Strive closes $630M SATS IPO, leaves Bitcoin allocation unspecified

Strive, a Bitcoin treasury company, closed a $630 million initial public offering for SATS but did not specify how much of the net proceeds it will allocate to Bitcoin. If the company used the full net proceeds for Bitcoin, it could acquire an estimated 7,372 BTC. Such a purchase would potentially surpass Metaplanet’s Bitcoin holdings. The size of any actual Bitcoin acquisition and the final allocation of the offering’s net proceeds remain unspecified.