A $4.7 million buy is pocket change for a public company. Yet Strive made one this week, and its stock jumped 9%.
The buy itself wasn't the point. What it signaled was.
Investors read it as proof that Strive's bitcoin machine is still running fast.
Strive picked up 73 bitcoin between June 8 and June 14. It paid about $63,646 a coin, or roughly $4.7 million in all.
The company shared the news in a Form 8-K, the filing firms use to report big events. That nudged its stash to 19,105 bitcoin.
For a company that held under 8,000 coins late last year, the pace is the real story. The stock climbed about 9% to near $16.57 on the news.
The filing also showed its cash held up. So the buying isn't burning through its reserves.
We follow the bitcoin treasury trend and what it means for investors in Market Briefs - five minutes a morning, plus a free investing masterclass when you join.
Strive is a bitcoin treasury company. That means it raises money mainly to buy and hold bitcoin.
It is borrowing a playbook that MicroStrategy made famous. The idea is to turn a public company into a tool for stacking coins.
Most of that money comes from a preferred stock that pays a 13% yearly dividend. Preferred stock is a type of share that pays a fixed amount.
Starting June 16, Strive plans to pay that dividend daily instead of monthly. The switch is meant to keep cash flowing in for more buys.
Daily payouts can make the stock more appealing to steady-income buyers. That, in turn, helps Strive raise even more.
The firm, co-founded by Vivek Ramaswamy, treats bitcoin like a yardstick. It measures every other use of cash against the coin.
Strive keeps selling new shares to fund fresh buys. Its share count rose again last week, to about 69.9 million.
Strive only entered this game in January. It merged with Semler Scientific and took on about 5,000 of Semler's coins.
It started the year with roughly 12,800 bitcoin, then kept buying. Five months later, it's past 19,000.
Its cash crept up over the same stretch, from $139.2 million to $141.4 million. So the treasury grew without draining the bank account.
Holdings have surged since late last year. Few public firms have stacked coins that fast.
The market is clearly watching the treasury, not the trade. A buy this small moving the stock 9% says investors are betting on the strategy.
The 73 coins are almost beside the point. Each buy adds to a bet that bitcoin keeps climbing.
If the coin falls, that bet cuts the other way. Still, Strive is building one of the fastest-growing bitcoin piles on Wall Street, one filing at a time.
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