STRIVE BUYS 3K BITCOIN FOR $280M, NOW FIFTH-LARGEST CORPORATE HOLDER

Summary from the TLDR Crypto newsletter

Strive acquired 3,311 BTC between October 5 and 9 for $280M at an average of ~$84,500, bringing its total treasury to 32,773 BTC and ranking it fifth among publicly traded corporate Bitcoin holders. The purchase was financed through its Variable Rate Series A Perpetual Preferred Stock (SATA), alongside a $208M warrant exercise, with cash reserves growing to $310.3M through the period. Bitcoin holdings expanded 11.2% against a 9.4% rise in effective common share count, benefiting existing shareholders on a per-BTC basis. CEO Matt Cole has targeted second-largest public corporate holder by year-end, though Strive currently trails Metaplanet by 11,227 BTC.