Key Highlights
- Strive acquired 469 Bitcoin worth $36.6 million, pushing its total reserves to 25,000 BTC
- Funding came exclusively from SATA preferred stock sales, which now exceed $1 billion in notional value
- The company ranks as the fifth-largest publicly listed corporate Bitcoin holder globally
- Stock price jumped more than 7% on Monday, achieving a 100%+ gain over the past 30 days
- CEO Matt Cole acknowledges that reaching second place among corporate holders by year-end is feasible but challenging
Bitcoin treasury firm and asset management company Strive expanded its cryptocurrency reserves by acquiring 469 Bitcoin last week, deploying $36.6 million at an average purchase price slightly below $78,000 per token. This transaction elevates the company’s aggregate Bitcoin position to precisely 25,000 BTC, representing approximately $1.95 billion in current market value.
The Bitcoin acquisition took place during the period spanning September 8 through September 11, as disclosed in an 8-K regulatory filing submitted to the US Securities and Exchange Commission on Monday.
Preferred Stock Sales Finance Complete Bitcoin Purchase
Chief Executive Officer Matt Cole disclosed that the entire capital deployment originated from SATA perpetual preferred stock transactions. The SATA instrument has now surpassed the $1 billion threshold in outstanding notional value, with the share count expanding by approximately 402,541 units during this acquisition window to reach roughly 10.4 million shares in circulation.
The company also expanded its “amplification ratio” metric to 53.5%. This proprietary measurement represents the proportion of outstanding perpetual preferred equity and debt relative to Bitcoin net asset value. Essentially, the ratio indicates that for each $100 in Bitcoin assets under management, approximately $53.50 exists in combined preferred stock commitments and debt obligations.
According to September 11 records, the firm maintained $204.2 million in liquid cash and equivalent instruments, alongside 505,000 shares of Strategy’s STRC preferred stock with an approximate market value of $49.8 million.
This week’s acquisition represents a deceleration compared to the previous period, when Strive deployed approximately $109 million to secure 1,375 Bitcoin.
Share Price Rallies Alongside Bitcoin Treasury Growth
Strive’s publicly traded equity on the Nasdaq exchange climbed more than 7% during Monday’s trading session, touching approximately $29 and establishing a new year-to-date peak. Over the trailing 30-day period, the stock has experienced gains exceeding 100%.
This substantial appreciation propelled Strive’s market capitalization beyond that of Metaplanet, the Japanese Bitcoin treasury corporation that maintains a larger Bitcoin reserve. On Monday, Strive commanded a market valuation of approximately $2.5 billion, surpassing Metaplanet’s $1.9 billion valuation.
The stock’s advancement also carried shares above the $27 strike price associated with warrants scheduled to expire in mid-October. Should warrant holders choose to exercise these instruments, Strive could potentially receive in excess of $700 million in fresh capital.
Among publicly traded entities, Strive currently occupies the fifth position globally for Bitcoin holdings, trailing Strategy, Twenty One, Metaplanet, and MARA.
Achieving second-place status before year-end would require Strive to surpass Twenty One, which presently controls 43,514 BTC. With approximately 15 weeks remaining in 2026, Strive would need to maintain a weekly acquisition pace of roughly 1,234 Bitcoin to eliminate this differential.
Strategy, maintaining its position as the dominant corporate Bitcoin accumulator, left its holdings static at 845,050 BTC for the second consecutive week. The organization allocated $139.3 million toward repurchasing its STRC preferred shares utilizing its US dollar cash reserves.
Bitcoin traded in the vicinity of $78,000 following Friday’s turbulent session, during which the cryptocurrency momentarily approached $80,000 before retreating to approximately $77,000.
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