Strive buys 1,107 bitcoin for $94.5m to lift holdings past 27,400 BTC
Strive paid an average of $85,396 per coin in late September, keeping it fifth among public bitcoin holders as it chases second place by year-end.
Key points
- Strive acquired 1,107 BTC for about $94.5 million between Sept. 21 and Sept. 25, at an average price of $85,396.
- Total holdings now stand at 27,462 BTC, per a Monday Form 8-K filing with the SEC.
- Warrant exercises raised $12.4 million, down from $21.2 million the previous week, while SATA preferred stock supplied 85% of capital.
- Strive remains the fifth-largest public bitcoin holder, behind Strategy, Twenty One, Metaplanet and MARA.
- It needs about 1,235 BTC a week for 13 weeks to overtake Twenty One's 43,514 BTC.
Strive bought another 1,107 bitcoin for roughly $94.5 million last week, lifting its total holdings above 27,400 BTC as it climbs the ranks of public bitcoin treasuries. The company paid an average of $85,396 per bitcoin between Sept. 21 and Sept. 25, according to a Monday Form 8-K filing with the Securities and Exchange Commission. Strive now holds 27,462 BTC.
The purchase was slightly smaller than the prior week's addition of 1,355 BTC. Strive kept raising capital through its SATA perpetual preferred stock and through the exercise of outstanding warrants. Warrant exercises brought in $12.4 million in gross proceeds, down from $21.2 million a week earlier. SATA sales accounted for 85% of the capital raised last week, up from 57.7% the week before.
Bitcoin's price slipped on Sunday night and was trading at a one-week low of $83,000 at the time of the report. That is below the average price Strive paid for its latest batch of coins.
Latest purchase and average price
Strive remains the world's fifth-largest public bitcoin holder, behind Strategy, Twenty One, Metaplanet and MARA. Chief executive Matt Cole has said the company could potentially reach second place by the end of 2026, though he has said that is not his base case.
To overtake Twenty One's current 43,514 BTC, Strive would need another 16,053 BTC, assuming the Tether-backed company makes no further purchases. With 13 full weeks left in the year, that works out at an average of roughly 1,235 BTC per week.
Strive's common stock, ticker ASST, was down 0.3% on Monday at $29.35. The shares are up nearly 70% year-to-date, while Michael Saylor's Strategy is down 6% and Twenty One has lost 26% over the same period.
Funding mix shifts to SATA
The filing puts Strive's accumulation pace in context against larger peers. Its weekly buying has slowed from the previous week, and the mix of funding has shifted further towards the SATA preferred stock as warrant proceeds declined.