Strive, which has backing from Vivek Ramaswamy, has significantly increased its Bitcoin holdings, acquiring an additional 334 BTC. This brings the company’s total Bitcoin assets to an impressive 13,132 BTC, valued at approximately $1.2 billion. This strategic acquisition positions Strive as the 10th-largest holder of Bitcoin, surpassing CleanSpark, as reported by BitcoinTreasuries.NET.
How Did Strive Fund This Acquisition? The recent Bitcoin purchase was fueled by an upsized follow-on offering that successfully raised $225 million for the company. Strive witnessed overwhelming demand, with requests exceeding $600 million, which greatly exceeded the initial target of $150 million.
In terms of debt management, Strive assumed $120 million from its Semler Scientific acquisition and has already retired $110 million of this amount. This includes a $20 million reduction of a loan from Coinbase Credit. The company anticipates retiring the remaining $10 million by April 2026.
What Experts are Saying About Strive’s Performance? Strive has demonstrated exceptional performance in managing its Bitcoin-powered treasury, eliminating over 90% of its Semler-related debt just 11 days post-acquisition. Furthermore, the company reported a notable amplification ratio of 37.2%, with preferred equity contributing 97.7%. Additionally, it has recorded a Bitcoin yield of 21.17% for the quarter-to-date. Investing in Bitcoin has become increasingly viable for Strive, which, within just over four months, transformed from possessing no Bitcoin to becoming a top-10 public Bitcoin holder.
Such developments offer valuable insights for potential investors keen on entering the cryptocurrency space, especially as companies like Strive lead the charge with significant Bitcoin investments.