Strive, the bitcoin treasury company founded by Vivek Ramaswamy, saw its shares jump about 10% on Monday after announcing the purchase of 759 bitcoin for roughly $50 million. The acquisition, made between June 15 and June 21 at an average cost of $65,850 per coin, pushed the firm’s total BTC holdings to 19,864 — making it the seventh-largest publicly traded corporate holder, ahead of SpaceX and Coinbase.
The per-coin price was about 11% lower than Strive’s previous large purchase in May, when it paid an average of $74,092 each for over 2,500 BTC. Strive CEO Matt Cole confirmed the buy on X, and an SEC 8-K filing detailed the transaction. The company’s common stock (NASDAQ: ASST) hit an intraday high of $16.31 before settling near $15.40, while Bitcoin’s price edged up to just under $65,000.
Funding for the accumulation comes through SATA, a perpetual preferred stock paying daily dividends at a 13% rate. The mechanism avoids dilution for common shareholders. SATA’s price had dipped below its $100 par value to $93 last week amid what Cole called a “leverage liquidation event, not a deterioration in underlying credit quality.” It later recovered to $97.70. Data from BitcoinTreasuries.net showed that in one recent week, SATA generated enough capital for an estimated 603 BTC, with a single day raising approximately $19.45 million.
The purchase underscores a trend of publicly traded firms using structured finance to accumulate Bitcoin. Strive has added over 3,700 BTC since January, partly through its acquisition of Semler Scientific. CIO Ben Werkman noted that continued low Bitcoin prices could trigger consolidation among treasury companies. Meanwhile, Strategy (formerly MicroStrategy) remains the dominant corporate holder with 847,363 BTC, and it recently added 520 BTC while raising its dollar reserve to $1.4 billion.
