Strive (NASDAQ: STRV) purchased 2,500 Bitcoins between May 23 and June 1 for approximately $185.2 million, bringing the company’s treasury to 19,000 BTC The 2,500 BTC purchase was funded almost entirely through the company’s Variable Rate Series A Perpetual Preferred Stock (SATA), with an average cost of about $74,092 per coin.Is Strive still buying BTC? An SEC 8-K filing confirmed that Strive raised most of the money used for its most recent Bitcoin purchase through its SATA stock. The company issued 1,754,188 new shares that generated approximately $175.4 million. The remaining $9.8 million came from selling Class A common stock (ASST).The average price Strive paid per coin was $74,092, which is lower than its previous purchase when it bought 1,109 BTC at about $76,989 per coin. During the latest purchase window, Bitcoin traded below $71,000 at certain points, meaning the treasury firm bought during a price drop. Strive’s holdings have risen from 16,500 BTC to 19,000 BTC, representing a 15.2% increase in total holdings over a single reporting period. The CEO, Matt Cole, disclosed the deal on X, adding that the company has a quarter-to-date BTC yield of 23.0%, a year-to-date yield of 36.7%, and an amplification ratio of 57.0%.The 8-K filing also shows cash and equivalents rising from $93.3 million to $137.3 million, even after Strive spent $185 million on Bitcoin. Strive raised about $229 million total from both equity instruments, and the company stated that the higher cash balance helps it maintain an 18-month dividend reserve for SATA holders. Strategy’s rare Bitcoin saleStrategy (NASDAQ: MSTR), the largest corporate Bitcoin holder at 843,706 BTC, disclosed that around the same time as Strive’s purchase, it had sold 32 Bitcoins for $2.5 million to fund dividend payments on its own preferred stock, STRC. This is the second time Strategy has ever sold any of its Bitcoin holdings.Michael Saylor, Strategy’s executive chairman, responded to Cole’s announcement regarding the Bitcoin purchase with a brief endorsement on X, posting “@Strive for Bitcoin.”Cole previously announced that Strive expects to increase the size of its at-the-market programs by $2.1 billion each for Class A shares and SATA, which would bring total ATM capacity to approximately $5.15 billion. However, the expansion requires amended SEC filings and a certificate of amendment for SATA.Strive plans to change SATA‘s current dividend payouts from a monthly to a daily basis beginning June 16, in order to smooth out the concentrated buying pressure that currently builds ahead of each monthly ex-dividend date, and potentially reduce the periodic pauses in Bitcoin accumulation that observers have noticed.Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free.