Strive Expands Bitcoin Treasury With $8.3M Purchase Funded by Warrant Exercises
Strive (ASST) has expanded its bitcoin holdings, purchasing 72 BTC worth approximately $8.26 million using proceeds from recently exercised warrants tied to its previously announced $750 million private investment in public equity (PIPE) deal, according to a Tuesday filing with the SEC.
The purchase, completed Monday, was executed at an average price of $114,303 per coin, lifting Strive’s total holdings to about 5,958 BTC. The company said its cumulative bitcoin investment now totals $691.3 million, with an average acquisition cost of $116,032 per bitcoin.
The additional funds came from the exercise of roughly 6.11 million traditional warrants at $1.35 per share, generating $8.26 million in gross proceeds. These warrants form part of the 555.3 million issued under Strive’s broader PIPE financing structure.
Despite the expanded bitcoin position, Strive shares fell 13.5% in early Tuesday trading after doubling across the previous two sessions.
