Strive Increases Bitcoin Holdings by 5.5%, but Per Share Exposure Rises Only 1.3%
Strive, Inc. (NASDAQ:ASST) acquired 1,110 additional Bitcoin between August 17 and August 21 at an average price of $73,409 per coin for a total cost of approximately $81.5 million. This increased its holdings from 20,246 to 21,356 coins—a 5.5% rise. However, the increase in Bitcoin exposure on a per assumed diluted share basis was only 1.3%, as Strive's fully diluted share count expanded by nearly 4%. The company also issued new common and preferred shares during this period. Strive ended August with $171.9 million in cash—a rise of over $17 million despite the Bitcoin purchase—suggesting room for further acquisitions or expenses. While Strive bought Bitcoin below its subsequent market price, much of the growth in holdings was offset by new securities issuance and capital expansion. The analysis highlights that while total Bitcoin increased, value creation for common shareholders remains limited due to dilution from preferred shares and warrants. The article suggests a more comprehensive metric—net asset value per share after accounting for all liabilities—is needed to assess whether the treasury strategy is truly beneficial.
Topics: Bitcoin share dilution Strive, Inc. treasury strategy