The offering is registered under the Securities Act of 1933 and marks Strive's latest move to expand its bitcoin holdings while addressing outstanding debt. Strive plans to use the proceeds from the offering, along with cash on hand and potentially funds from terminating certain derivative contracts tied to convertible debt, to repurchase or redeem all or a portion of the 4.25% Convertible Senior Notes due 2030 issued by its subsidiary Semler Scientific, Inc.
( Strategy ( NASDAQ:MSTR ), the former business-intelligence software maker turned BitcoinCRYPTO:BTC) holding company, now owns 649,870 bitcoin worth roughly $56 billion at today's price around $86,700. That's around 3% of all Bitcoin ever mined and far exceeds the company's $500 million annual software revenue. Since 2020, executive chairman Michael Saylor has treated Bitcoin as the company's primary treasury asset, raising billions in convertible debt and equity to keep buying on every dip.