Strive buys 334 BTC, shaves most debt from Semler Scientific deal
Strive has now become one of the top 10 largest corporate Bitcoin holders, with a treasury of 13,132 BTC, worth $1.17 billion.
Bitcoin treasury company Strive said it has retired 92% of the debt it inherited after acquiring Semler Scientific earlier this month, and bought another 334 Bitcoin, following the closure of a preferred stock offering.
Strive said on Wednesday that it saw $600 million in demand for its Variable Rate Series A Perpetual Preferred Stock, trading under “SATA,” and had upsized its target raise from $150 million to $225 million in response.
The stock offering is a form of long-duration equity financing designed to fund Bitcoin (BTC) accumulation without increasing leverage.
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