Bitcoin treasury firm Strive said it purchased 333.9 BTC and retired 92% of the debt assumed from its Semler Scientific acquisition, following the close of a preferred stock offering. The company raised $225 million through its Variable Rate Series A Perpetual Preferred Stock after demand exceeded initial expectations, allowing it to reduce leverage while expanding its digital asset holdings.
Proceeds from the offering were used to retire $110 million in liabilities, including the repayment of a $20 million credit loan and the exchange of $90 million in convertible notes for preferred equity. Strive said its bitcoin holdings are now fully unencumbered, with the remaining $10 million of debt expected to be repaid in the coming months.
The latest purchase lifts Strive’s treasury to 13,132 Bitcoin, placing it among the largest corporate holders globally. The move highlights continued institutional experimentation with bitcoin treasury strategies, even as equity market performance reflects ongoing volatility and investor scrutiny.
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