Strive Posts $509M Profit as Bitcoin Financing Costs Rise

Strive’s third-quarter earnings were driven by Bitcoin’s fair-value accounting rather than a comparable increase in operating cash flow. Preferred financing allows faster accumulation, but the cost of capital creates a hurdle for common shareholders. Bitcoin Yield measures changes in cryptocurrency exposure per share, not the economic return earned after financing costs. Strive Inc. reported $509 million in third-quarter net income, supported by a sharp increase in the value of its Bitcoin holdings, as the company expanded a financing strategy that increasingly relies on high-dividend preferred stock.