Person
Chairman and CEO of Strive, an asset management firm known for its bitcoin accumulation strategy and treasury investments.
Strive's 1,800 coins and Strategy's 4,603 put balance-sheet demand back on the tape, though the pioneer still holds 2,313 fewer bitcoin than it did in June and the newer bid is funded by a preferred paying 13 percent.
Perspective Coverage
3 publishersReality
Strive bought 2,000 bitcoin for $169 million last week, its biggest buy in four months, while its $90,170 average cost sat above a price near $86,000. Its $284.7 million in cash also has to pay a roughly 13% preferred dividend, so further buying depends on selling more SATA.
Reality
The asset manager paid for the coins with fresh common and preferred stock. Back out the two disclosed percentages and the fully diluted share count grew about 4% in a single week.
Perspective Coverage
4 publishersReality
Strive paid for last week's 469 bitcoin entirely with preferred stock. The coupon on its $1.04 billion of SATA is 13%, charged every business day, against a treasury of 25,000 coins. Warrants struck at $27 expire in mid-October.
Perspective Coverage
3 publishersReality
Strive outbought Strategy again on Monday, 1,355 coins against 950, and its stack ranks fifth among public holders. The weekly checks come out of a perpetual preferred that pays 13% and crossed $1 billion of notional this month.
Reality
A $1.92 billion ETF inflow print and a Fear and Greed reading of 78 say institutional sentiment flipped. Neither says whether the money was spot or borrowed.
Reality