Strive Buys 124 Bitcoin, Moves Closer to Overtaking Metaplanet

Bitcoin (CRYPTO: $BTC) treasury company Strive (Nasdaq: $ASST) added 124 BTC to its holdings last week, bringing its total stash to 43,124 BTC as it moves closer to becoming the second-largest publicly traded corporate Bitcoin holder.

The company purchased the coins between October 24 and October 30 at an average price of $80,526 per BTC, including fees and expenses, according to a Monday filing with the US Securities and Exchange Commission.

The latest acquisition brings Strive closer to its year-end target of overtaking Japanese investment firm Metaplanet, which held approximately 44,000 BTC at the time of publication. Strive would need another 876 BTC to pass that mark, assuming Metaplanet makes no further purchases.

Strategy (NASDAQ: $MSTR) remains by far the largest corporate Bitcoin holder, with 849,327 BTC. Twenty One (NYSE: $XXI) holds 43,514 BTC, placing it ahead of Strive, while mining company MARA (NASDAQ: $MARA) holds 35,577 BTC, according to Bitcoin Treasuries data.

Strive's latest purchase marks a slower pace of accumulation following a busy October, when the company acquired around $1.25 billion worth of Bitcoin.

Strive CEO Matt Cole said the company funded most of its latest Bitcoin purchases using existing cash, while also tapping its $1 billion SATS preferred stock at-the-market offering for the first time.

The company launched the offering on October 26, allowing it to sell up to $1 billion in SATS preferred shares to finance additional Bitcoin purchases and other corporate expenses.

Strive reported $490.4 million in cash and cash equivalents as of October 30, down from $504.4 million a week earlier.

The company also maintained its position in Strategy’s STRC (NASDAQ: $STRC) preferred stock, holding 505,000 shares valued at approximately $50.1 million at the end of the reporting period.

Strive shares are currently trading at $22.05, down 0.65%.