Strive buys $511 million worth of Bitcoin in 1 week

Strive, with a $511 million purchase, brought its total Bitcoin holdings to the level of 43,000 BTC. The company purchased 6,182 units of Bitcoin at an average price of $82,732 in transactions covering the period of October 17 to October 23.

How much in shares will Strive sell for its Bitcoin reserve?

In addition to the purchases, the company launched a $1 billion share sale program to create new funding for its balance sheet. This mechanism, allowing the sale of perpetual preferred shares under the ticker SATS at market price, represents the maximum share issuance that can be carried out, not cash that has already been raised. According to the company's SEC filings, not all of the potential funds to be raised are allocated to crypto purchases; the amount may also be used for working capital, income-generating investments and share buybacks.

What is the status of the latest prices and volume in the crypto market?

While no prominent macro catalyst stood out accompanying the market-wide buying trend, according to October 26 data, Bitcoin traded at the $80,266.71 level, up 0.28%. Trading within a band of $79,343.66 to $80,437.70 during the day, the asset's 24-hour trading volume was approximately $19.2 billion. Meanwhile, one of the major cryptocurrencies, Ethereum, changed hands at $2,328.96 with a 0.08% increase in the same time frame, while its 24-hour trading volume materialized at approximately $8.4 billion.

This content is for information purposes only and does not constitute investment advice.