Strive launches a public offering of US$450 million, further increasing its holdings of Bitcoin

Huobi HTX reported that Bitcoin treasury company Strive (NASDAQ ASST) announced the launch of a $450 million public issuance plan to increase its holdings of Bitcoin to increase the proportion of Bitcoin contained in a single stock. The additional issuance is part of the company's total capital initiative of $950 million, including a $500 million stock buyback program to enhance balance sheet flexibility. Strive currently holds 69 bitcoins worth approximately $7.9 million and can raise $750 million in the next 12 months through warrants. The company said it will issue preferred shares through a registered structure to purchase additional Bitcoin to increase shareholder Bitcoin exposure and increase shareholder value.