STRIVE HOLDS 3.1 PERCENT AS MUCH BITCOIN AS STRATEGY — AND BOUGHT 42.6 PERCENT MORE OF IT THE WEEK OF SEPTEMBER 14

Strive and Strategy filed their 8-Ks within a minute of each other on September 21, and the numbers read backwards. Strive bought 1,355 bitcoin from September 14 through 18, at about $79,475 each. Strategy bought 950. A company holding 26,355 coins bought 42.6 percent more than one holding 846,000.

Where Strive’s money came from, the filing does not say. It shows cash up $25.4 million to $229.6 million, Class A shares up 2,073,760, SATA preferred up 786,194 shares to 11,184,160, and warrants outstanding down 785,555. Strive’s Matt Cole wrote on X that warrant exercises brought in $21.2 million in gross proceeds.

The SATA line is the promise. At $13 a share a year, 786,194 new shares add about $10.2 million a year in dividends: one dollar of yearly obligation for every $10.54 of bitcoin bought. The week before, it was one for every seven. Strategy spent the same week retiring its preferred. Strive is still issuing it, and getting more coin per dollar promised than it did a week earlier.

Growth has a coupon. Watch the coupon. At the time of this writing, bitcoin was $85,216.