From BigGo Finance · BigGo Finance · · 1m 10s
Saylor Signals More Bitcoin Purchases as Strive Funding Model Hits Wall
Saylor says there's room to buy more Bitcoin while Strive's funding model stalls at $100 stock price.
In brief
Saylor says there's room to buy more Bitcoin while Strive's funding model stalls at $100 stock price. Strategy chairman Michael Saylor plans to buy more Bitcoin, but Strive's capital-raising efforts halt after its preferred stock falls below $100. Originally reported by BigGo Finance.
Saylor Signals Bitcoin Purchases
Michael Saylor, chairman of Strategy, posted on X: 'There's always room to buy more orange (Bitcoin).'
“There's always room to buy more orange (Bitcoin)”
SEC Filings Delayed Until October 13
Official purchase details expected in SEC filings on October 13 due to Columbus Day holiday.
Strategy Holds 848,000 Bitcoin
Strategy previously acquired 334 BTC, bringing total holdings to 848,000 BTC.
Strategy Redeemed 1.77 Million STRC Shares
Strategy spent $176.3 million to redeem 1.77 million shares of STRC preferred stock.
Strive's SATA Stock Falls Below $100
Strive's SATA preferred stock fell below $100, halting capital-raising efforts this week.
Strive Raised $55 Million for 638 Bitcoin
Strive raised approximately $55 million, enough for 638 Bitcoin at current prices.
Strive's Model Requires Stock Above $100
Strive's funding model depends on SATA stock remaining above $100 par value.
The main idea
Strategy chairman Michael Saylor plans to buy more Bitcoin, but Strive's capital-raising efforts halt after its preferred stock falls below $100.
