Strive Reaches 20,000 BTC as Share Count Rises

Strive purchased 79 BTC between July 20 and July 24, bringing its treasury from 19,921 BTC to 20,000 BTC, according to a July 27 SEC filing. The filing also shows Effective Common Shares Outstanding rose by 430,000 over the same period.

The filing lists an average purchase price of about $65,723 per coin, including fees and expenses, which implies an outlay of roughly $5.192 million for the 79 BTC. Reported cash and cash equivalents fell by about $3.4 million during the week covered by the filing.

Effective Common Shares Outstanding moved from 83,669,973 to 84,099,973. The filing breaks that change into a rise of 437,477 Class A shares and a decline of 7,477 Class B shares, producing the net increase of 430,000 effective common shares.

Using the company’s effective common-share denominator, BTC held per effective common share fell from about 23,809 satoshis on July 17 to about 23,781 satoshis on July 24, a decline of roughly 0.12%. (A satoshi is the smallest unit of Bitcoin.) Using the company’s published Assumed Fully Diluted Shares Outstanding totals, BTC per assumed fully diluted share declined by about 0.10% over the same dates.

The filing says Assumed Fully Diluted Shares Outstanding includes effective common shares, options and unvested restricted stock units, and excludes 26,596,510 shares underlying traditional warrants. The July 17 total for the assumed fully diluted figure is 16,163 shares lower than the sum of the listed components for that date; the filing does not explain the arithmetic gap.

The SEC filing does not identify what specifically caused the 430,000-share increase or link any proceeds from additional share issuance to the 79-BTC purchase. The reported $3.4 million decline in cash and cash equivalents does not equal the roughly $5.192 million implied cost of the Bitcoin purchase, and the filing does not disclose other funding sources or transfers that would reconcile that difference.

Crossing the 20,000-BTC level increased Strive’s total Bitcoin holdings in absolute terms. The SEC filing lists transaction dates, average purchase price and share-count movement but does not disclose the source of funds for the acquisition or explain the net increase in effective common shares.