Strive buys $335M in Bitcoin after $369M warrant windfall
Photo: Crypto Briefing
The Ramaswamy-backed treasury company added 4,045 BTC and is lining up a $630 million preferred stock sale to keep buying Strive, the Nasdaq-listed Bitcoin treasury company, just turned a warrant payday into a Bitcoin shopping spree. The firm acquired 4,045 BTC for approximately $335 million between October 12 and 16. It isn’t stopping there. Strive has also priced a $630 million preferred stock offering, which means the next round of purchases already has funding lined up. Warrants covering 13.7 million shares were exercised, generating approximately $369.2 million in expected gross proceeds. The participation rate came in at 94%.
Source: Crypto Briefing
