On Wednesday, bitcoin treasury company Strive (ticker: ASST) announced a series of significant balance sheet moves, including a major investment in a competitor's securities and an expansion of its bitcoin reserves.
The company purchased an additional 179 bitcoin, increasing its total holdings to 13,311 BTC. At current prices, this stash is worth approximately $930 million. This acquisition coincides with bitcoin reclaiming the $70,000 price level, with ASST shares rising 2.2% in early Wednesday trading.
In a notable strategic move, Strive announced the purchase of $50 million worth of perpetual preferred stock from fellow bitcoin treasury firm MicroStrategy (MSTR). The security, ticker STRC, currently yields 11.5%. This investment represents a direct financial link between two companies operating in the same niche.
Strive also made adjustments to its own securities, lifting the dividend on its perpetual preferred security SATA by 25 basis points to 12.75%. Despite the increase, SATA was trading up 1.4% at $96.22, still below its par value.
The announcements come as Strive, part of a wave of companies formed in 2025 to emulate MicroStrategy's success, has faced significant challenges. The company has lost more than 90% of its value since its peak in the summer of 2025 and recently undertook a 1-for-20 reverse stock split to maintain its share price above $1.
