Key Takeaways
- Strive acquired 2,000 BTC for approximately $169 million from September 28 through October 2.
- This marks the company’s biggest acquisition since June, increasing total reserves to 29,462 BTC.
- Metaplanet surpassed Twenty One for second place in bitcoin treasury rankings after adding a net 1,000 BTC.
- Strive trails MARA by 6,115 BTC in the race for fourth-largest public bitcoin treasury position.
- ASST shares jumped approximately 2% after the disclosure.
Strive expanded its bitcoin reserves by 2,000 coins last week, spending approximately $169 million on the acquisition. Shares of ASST gained around 2% following the announcement, with the stock trading close to $30.50.
The transaction represents the firm’s most significant single acquisition since June. Between September 28 and October 2, Strive purchased the coins at an average cost of $84,422 per bitcoin.
With this addition, Strive’s aggregate bitcoin position now stands at 29,462 BTC. At prevailing market rates, this stockpile is valued at approximately $2.55 billion.
Chief Executive Matt Cole disclosed that the majority of funding came from selling SATA preferred shares. These sales generated 61.5% of the required capital.
An additional $56.7 million was raised through warrant exercises. Combined, these financing mechanisms illustrate how Strive continues building its bitcoin position.
Corporate Bitcoin Treasury Rankings Shift
Strive currently trails MARA by 6,115 BTC, with MARA maintaining 35,577 BTC. This differential keeps Strive from claiming the fourth-largest public bitcoin treasury position at present.
Meanwhile, the competition for second place has evolved. Japanese firm Metaplanet executed a strategic move during Q3, selling 10,000 BTC before repurchasing 11,000 BTC in what the company described as a liquidity exercise.
This net addition of 1,000 BTC elevated Metaplanet’s holdings to 44,000 BTC, overtaking Twenty One’s 43,514 BTC. Strive now sits 14,538 BTC behind Metaplanet’s updated total.
To close this gap before year-end, Strive would need to accumulate approximately 1,212 BTC weekly across the remaining 12 weeks. This calculation assumes Metaplanet refrains from additional purchases, though recent activity suggests otherwise.
Strategy maintains dominant market leadership by a substantial margin. Michael Saylor’s enterprise acquired 334 BTC for $28.7 million last week, bringing its aggregate position to 848,000 BTC.
Q3 Financial Performance Details
Strive disclosed preliminary third-quarter metrics in its SEC submission. Throughout the quarter, the company accumulated 8,137 BTC at an average acquisition cost of $78,885.
As of September 30, Strive held approximately $285 million in cash and equivalents. The company’s year-to-date BTC yield metric reached 63.2%.
The firm’s amplification ratioāwhich compares preferred equity and debt against bitcoin valueāregistered at 55.3%. Cole indicated his objective is pushing this metric above 60% while bitcoin remains below $100,000.
Strive’s bitcoin reserves have expanded by more than 290% year-to-date. The company recently surpassed cryptocurrency exchange Bullish to claim the fifth-largest corporate bitcoin treasury globally.
ASST shares surged nearly 140% throughout the third quarter. Last week alone, the stock advanced about 1.7%, independent of Monday’s gains.
Strive’s SATA preferred shares hovered near their $100 par value on Monday. These preferred securities distribute a daily dividend at an annualized rate of $13 per share, representing an effective yield around 13%.
Bitcoin traded near $86,000 on Monday, after reaching a 24-hour peak of $86,948. Trading volume for bitcoin surged 78% compared to the previous 24-hour period.
Cole addressed the accumulation strategy, confirming the company intends to continue expanding its holdings. Competitors including Strategy’s Michael Saylor publicly recognized Strive’s recent acquisition.
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