Strive kept buying Bitcoin last week, but the pace slowed compared to prior weeks. The latest Strive Bitcoin purchase added 1,107 BTC to the Dallas-based asset manager’s balance sheet, a smaller haul than the 1,355 BTC it picked up the week before. Still, the move pushed Strive’s total holdings past 27,000 coins and cemented its place among the largest corporate Bitcoin buyers tracking the market right now.
Key takeaways
- According to an SEC Form 8-K filing, between Sept. 21 and Sept. 25 Strive acquired 1,107 BTC at a cost of roughly $94.5 million, working out to an average price of $85,396 per bitcoin.
- Total holdings now stand at 27,462 BTC, worth roughly $2.3 billion at Friday’s closing price of $83,943.
- Warrant exercises generated $12.4 million, and 85% of total capital raised came from Strive’s SATA preferred stock.
- SATA’s share count rose to about 12.2 million shares, giving it a notional value near $1.22 billion.
- Strive’s cash reserves grew by $19.2 million to $248.8 million.
Strive’s Recent Bitcoin Purchase and Holdings Expansion
Between September 21 and September 25, Strive acquired 1,107 BTC for approximately $94.5 million, paying an average of $85,396 per coin including fees. The company disclosed the transaction in a Form 8-K filed with the SEC on Monday, giving investors a clear paper trail of how the acquisition was priced and executed.
That purchase brings Strive’s cumulative Bitcoin stash to 27,462 BTC, valued at roughly $2.3 billion based on Friday’s closing price of $83,943. It’s a substantial treasury for a company that has been steadily layering in coins week after week, though the latest addition was notably smaller than the 1,355 BTC bought the previous week, based on Strive’s own prior filings.
Why the slower pace matters
A dip in weekly purchase volume doesn’t necessarily signal a change in strategy, but it does show that Strive’s buying rhythm isn’t locked into a fixed weekly target. The company has fluctuated between larger and smaller weekly buys depending on available capital, which ties directly into how it funds each purchase.
Capital Raising and Funding via SATA Preferred Stock
Strive’s funding formula leans almost entirely on one instrument: its preferred stock. CEO Matt Cole confirmed on X that warrant exercises generated an additional $12.4 million, and when combined with other proceeds, 85% of the total capital Strive raised recently came from SATA preferred stock.
SATA is Strive’s variable-rate perpetual preferred stock. It pays dividends to holders and lets the company raise fresh capital without diluting common shareholders the way a straight equity issuance would. That structure has become the backbone of Strive’s bitcoin treasury management approach.
The numbers back up how central SATA has become to the strategy. Its share count climbed by roughly 1 million during the week, reaching 12.2 million shares outstanding. At its $100 stated amount, that puts SATA’s notional value at approximately $1.22 billion. Class A common shares also increased, rising by about 649,000 during the same period.
This isn’t a new tactic for Strive. Its 469 BTC purchase earlier in September, which lifted holdings to an even 25,000 coins, was funded entirely through SATA. In early September, a distinct $109 million purchase was financed through a 70/30 split between SATA and common stock, illustrating that the company had tested various funding combinations before eventually leaning heavily on the preferred shares.
Liquidity Position and Common Stock Movements
Beyond the Bitcoin buys, Strive’s balance sheet picked up some breathing room. The company’s cash pile grew by $19.2 million, bringing total reserves to $248.8 million. That cushion gives Strive some flexibility even as it continues committing large sums to Bitcoin acquisitions week after week.
Why this matters for investors: a growing cash position alongside continued Bitcoin buying suggests Strive isn’t stretching itself thin to fund each purchase. Instead, it appears to be running a layered capital strategy where preferred stock issuance covers most of the Bitcoin spending while cash reserves and common shares provide additional flexibility.
Strive’s Position Among Public Bitcoin Holders
Strive now ranks fifth among public Bitcoin holders, trailing Strategy, Twenty One Capital, Metaplanet, and MARA, according to data from Bitcoin Treasuries. The company is closing in on the pack, but the gap to fourth place is not small.
To overtake Twenty One Capital’s 43,514 BTC by the end of the year, Strive would need to add approximately 16,050 more coins, which works out to roughly 1,235 BTC a week for the rest of 2026. Given that last week’s purchase came in at 1,107 BTC, that target is within reach but would require Strive to sustain or slightly increase its recent pace.
The broader field of corporate Bitcoin buyers didn’t slow down either. Strategy, the largest holder by a wide margin, added 1,665 BTC for $142.7 million in a separate filing, pushing its total to a record 847,666 BTC. Meanwhile, Tom Lee’s Bitmine expanded its Ethereum position, picking up 17,362 ETH worth about $47 million and bringing its stake to 4.9% of Ethereum’s total supply.
Why this matters for the market: the simultaneous disclosures from Strive, Strategy, and Bitmine underline how corporate treasury accumulation continues at scale across both Bitcoin and Ethereum, even as individual firms adopt different funding structures to get there. Strive’s model, built around SATA preferred stock rather than debt or heavy equity dilution, offers a distinct blueprint compared to how larger rivals like Strategy have historically financed their own crypto stockpiles.
FAQ
How many Bitcoins did Strive acquire recently and at what cost?
Between Sept. 21 and Sept. 25, Strive acquired 1,107 BTC at a total cost of approximately $94.5 million, with fees included, the average price per bitcoin came to $85,396.
What is the total size and value of Strive’s Bitcoin holdings?
Strive’s Bitcoin holdings total 27,462 BTC, worth approximately $2.3 billion at the latest price.
How does Strive fund its Bitcoin purchases?
Strive uses capital raised primarily through its SATA variable-rate perpetual preferred stock, which accounted for 85% of total capital raised recently.
What is SATA preferred stock and how does it impact Strive’s funding?
SATA is Strive’s variable-rate perpetual preferred stock that pays dividends and allows the company to raise money with less dilution for common shareholders.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.