Key Highlights
- Strive purchased 1,107 BTC for $94.5 million during the period from Sept. 21 through Sept. 25.
- The company’s bitcoin treasury now totals 27,462 BTC, valued at approximately $2.3 billion.
- The firm maintains its position as the fifth largest publicly-traded bitcoin treasury holder.
- SATA perpetual preferred stock accounted for 85% of last week’s funding.
- ASST shares have climbed nearly 70% year-to-date, despite modest Monday weakness.
Shares of Strive (ASST) hovered around $29.35 during Monday trading, experiencing a minor decline. The pullback occurred as the bitcoin-focused treasury company announced its latest cryptocurrency acquisition.
The company secured 1,107 BTC throughout a five-day span from Sept. 21 to Sept. 25. Strive’s average acquisition cost came to $85,396 per bitcoin, representing a combined investment of $94.5 million.
Details of the transaction emerged through a Form 8-K document filed with the Securities and Exchange Commission. CEO Matt Cole subsequently validated the acquisition via a statement on X.
With this latest addition, Strive’s aggregate bitcoin position has expanded to 27,462 BTC. Based on prevailing market rates, this treasury holds an estimated value of $2.3 billion.
Bitcoin experienced downward pressure over the weekend, touching a seven-day low around $83,000 on Sunday evening. The digital asset was trading approximately 2% lower during Monday’s session.
Capital Raising Strategy Behind Recent Acquisitions
The company primarily leveraged its SATA perpetual preferred stock instrument to fund last week’s bitcoin purchase. SATA offerings represented 85% of capital generation, marking an increase from the previous week’s 58% contribution.
Additional funding of $12.4 million came through warrant exercises. This represented a decrease compared to the $21.2 million generated via warrants in the preceding week.
Despite the substantial bitcoin acquisition, the company’s liquid assets expanded during this period. Cash holdings increased from $229.6 million to $248.8 million, based on regulatory filings.
Beyond bitcoin, Strive maintains a position of 505,000 units in Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). This investment provides supplementary cryptocurrency market exposure within the company’s portfolio.
The STRC position complements the firm’s primary bitcoin treasury. These combined holdings form the foundation of Strive’s overall digital asset strategy.
The Quest for Runner-Up Status
Among publicly-traded entities, Strive currently occupies the fifth position in terms of bitcoin reserves. Strategy, Twenty One, Metaplanet, and MARA maintain larger holdings.
CEO Cole has indicated the possibility of Strive reaching second place before 2026 concludes. However, he emphasized this scenario isn’t the company’s primary projection.
Surpassing Twenty One’s 43,514 BTC position would require Strive to accumulate an additional 16,053 coins. With approximately 13 weeks remaining in the year, this translates to a weekly acquisition target of around 1,235 BTC.
Recent purchasing activity trails this benchmark. Last week’s 1,107 BTC acquisition follows the prior week’s 1,355 BTC purchase.
Competing digital asset treasury companies have also remained active. Strategy acquired 1,665 BTC during the same timeframe, while Bitmine expanded its ethereum position by 17,362 ETH, pushing its total holdings beyond 6 million coins.
Year-to-date performance shows Strive stock climbing nearly 70%. In contrast, Strategy shares have declined 6% over the same period, while Twenty One stock has fallen 26%.
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