STRIVE NOW HOLDS 36,818 BITCOIN — COUNT RAW COINS AND EACH SHARE LOST 12 SATS — COUNT WHAT’S LEFT AFTER THE PREFERRED AND EACH SHARE GAINED ABOUT 7%

Strive’s 8-K, filed at 7:59 AM ET on Monday, October 19, adds 1,223 bitcoin bought October 14 to 16 at about $81,734 each. With the 2,822 it reported October 14, that’s 4,045 for the week at about $82,803, and 36,818 in all, up 12.34% from October 9. The money came from the warrants we covered October 14: 13,674,703 new Class A shares at $27.00, about $369.2 million. The filing doesn’t say what paid for the coins, but they cost about $334.9 million, and the warrant money covers that.

Count raw coins and the week looks flat. Class A plus Class B shares rose 12.39%, a hair faster than the bitcoin, so each share’s bitcoin slipped from 29,689 sats to 29,677. That’s the wrong place to stop. CEBE Tracker counts no debt at Strive, just $1.40 billion of SATA preferred ahead of common. The warrant cash came in at $27.00 a share, when each share’s bitcoin after that preferred was worth about $15. Count it CEBE’s way, at $82,286 bitcoin, and each share’s claim went from about 18,213 sats to 19,527, up about 7%. Those are our figures. CEBE’s own feed still shows October 13.

One gap is cash. October 9 cash of $310.3 million, plus about $369.2 million from warrants, minus about $334.9 million of bitcoin, should leave about $344.6 million. The filing shows $317.5 million. It doesn’t say where the other $27 million or so went.

Next is the SATS sale, set to settle Tuesday, October 20: 7,000,000 shares of 15% preferred, $700 million owed at $100 a share, sold at $90 for about $630 million before fees. That’s $105 million a year in dividends, and at least $70 million more owed than raised, before a single bitcoin is bought with it. At the time of this writing, bitcoin was $82,434.