Strive CEO: No Common Shares Issued in Two Weeks, mNAV Removed From Dashboard

Strive CEO Matt Cole said the company has not issued common shares in the past two weeks and removed its mNAV metric from its dashboard. According to Foresight News, Cole said Strive’s shares were trading at a discount and issuing common stock at current prices would dilute shareholders; the company removed the mNAV calculation during the past week because he believes it reflects only a single point in time and treats Strive’s operating business like a passive fund. Cole said Bitcoin is near its 200-week moving average of about $68,000, which he described as historically one of the better times to increase Bitcoin exposure. Strive uses only preferred shares to increase its Bitcoin exposure, has no debt and has not pledged its Bitcoin, he said. Following the launch of SATS and the recent market decline, the notional value of Strive’s preferred shares exceeded 70% of the value of its Bitcoin holdings, according to Cole. Year to date, ASST has risen about 51%, while Bitcoin has fallen about 19%.