Strive Adds 72 Bitcoin to Treasury After Warrant Exercises; Shares Slip 13.5%

Strive (ASST) expanded its bitcoin holdings with the purchase of 72 BTC, funded through the exercise of traditional warrants tied to its previously announced $750 million private investment in public equity (PIPE) financing, according to a Tuesday filing with the U.S. Securities and Exchange Commission (8-K).

The company said it acquired approximately 72.3 BTC on Monday for about $8.26 million, paying an average price of $114,303 per coin.

Following the latest purchase, Strive now holds roughly 5,958 BTC, valued at $691.3 million in total, with an average acquisition price of $116,032 per bitcoin.

Based on the filing, the purchase was financed through the exercise of approximately 6.11 million warrants at $1.35 per share, generating $8.26 million in gross proceeds. These warrants form part of the 555.3 million issued under the company’s PIPE arrangement.

Shares of Strive were down 13.5% in premarket trading Tuesday, retreating after doubling over the previous two sessions.