Strive Rises Nearly 6% after Becoming ‘Daily Dividend Company’
Strive is now operating debt-free Strive said it ended the quarter with after buying back the remainder of its long-term notes. “Today, Strive stands debt-free, with zero margin requirements, and zero encumbered Bitcoin; a balance sheet purpose-built to thrive through Bitcoin volatility.” Strive shares flip to positive year-to-date Strive (ASST) shares rose 5.8% to $17.70 Thursday following the companys earnings statement and gained another 0.73% in after-hours trading. The company is now up 2.43% year to date but still down more than 81% over the past year. Strive ended Q1 with 13,628 Bitcoin, including 5,048 Bitcoin acquired through its purchase of Semler Scientific during the quarter. It has since added another 1,381 Bitcoin, bringing its total to 15,009 Bitcoin worth $1.22 billion at current prices. On Wednesday, another Bitcoin company, Nakamoto, rose 2.7% after reporting that its revenue increased 500% quarter-on-quarter in Q1 to $2.7 million, with $1.1 million of that coming from a new strategy of using its Bitcoin holdings as collateral to earn yield. Meanwhile, Q1 results from some of the larger players in the crypto industry were a mixed bag. Stablecoin issuer Circle rallied 15% after reporting its revenue rose 20% quarter-on-quarter to $694 million, beating estimates, while crypto exchange Coinbases shares slid after it reported