Institutional Bitcoin Investments Continue Unabated! Another Company Announces It Has Purchased Bitcoin! Here Are the Details

While institutional Bitcoin investments continue unabated, Strive has drawn attention with its latest purchase. According to a statement by the company’s CEO, Matt Cole, Strive bought 789 Bitcoins at an average price of approximately $77,890. The total value of this transaction was recorded as $61.43 million.

With this latest purchase, Strive’s total Bitcoin holdings have reached 14,557 BTC. Worth approximately $1.3 billion at current prices, this portfolio has propelled the company to ninth place among institutional Bitcoin holders. This acquisition puts Strive ahead of mining company Hut 8 and just behind Coinbase.

The company’s strategy follows a similar model to the Strategy model led by Michael Saylor. Strive issues a variable-rate perpetual preferred stock called “SATA” to finance Bitcoin purchases. This financing vehicle aims to provide price stability in the $99-100 range while offering investors a variable monthly dividend.

Last year, the company raised approximately $160 million from the initial issuance of SATA and $225 million from subsequent sales. Furthermore, Strive, which increased its dividend yield to 12.75%, plans to develop a SATA and STRC-focused ETF product in collaboration with Tuttle Capital Management.

Analysts note that Strive’s aggressive buying strategy indicates continued institutional demand for Bitcoin.

*This is not investment advice.

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