Strive’s latest acquisition saw the company acquire 2,000 Bitcoin over a five-day period at an average price of roughly $84,422 per coin, amounting to an outlay of about $169 million. This represents the firm’s largest single-day purchase since a 2,500-coin buy in late May and early June. The new coins bring the firm’s total Bitcoin balance to 29,462 as of Oct. 2, a rise of 48% in dollar terms since early July.
Funding mechanism
The cash used for the purchase came primarily from the issuance of Strive’s SATA preferred stock, which carries a $100 stated value and pays an adjustable dividend that was set at roughly 13% annually. In the weeks ending Sept. 4 and Sept. 25, sales of SATA supplied 70% and 85% of the capital raised, respectively. The company reported $284.7 million in cash reserves and no debt, indicating that the preferred-stock proceeds were largely allocated to the Bitcoin buy.
Position among public Bitcoin treasuries
Strive operates as a Bitcoin treasury company, allowing investors to gain exposure to the cryptocurrency through a Nasdaq-listed equity. With its current stash of nearly 30,000 BTC, the firm now ranks fifth among publicly disclosed Bitcoin holders, trailing Strategy, Twenty One Capital, Metaplanet and MARA. Twenty One Capital remains the leader with 43,514 BTC, leaving Strive about 14,000 coins short of the top spot.
Why it matters
The transaction underscores the growing reliance of publicly traded entities on capital-raising tools such as dividend-bearing preferred shares to expand their crypto assets. By increasing its Bitcoin exposure, Strive not only boosts its balance-sheet value but also signals confidence in the digital-asset market despite recent price fluctuations. The move may encourage other corporate treasuries to consider similar financing structures as they seek to incorporate Bitcoin into their strategic holdings.
