Strive Buys 1,107 Bitcoin and Grows to 27,462 BTC
Strive partly financed the purchase with SATA and warrant exercises, keeping the treasury firm among the largest publicly traded bitcoin holders.
Key Takeaways
- Strive bought 1,107 bitcoin between September 21 and 25 for $94.5 million, increasing its holdings to 27,462 BTC.
- The average purchase price was $85,396 per bitcoin; at $83,300 per BTC, the total bitcoin stash was worth about $2.3 billion.
- Strive remains the fifth-largest publicly traded bitcoin treasury, while funding further purchases is becoming less straightforward because of market volatility.
Strive bought another 1,107 bitcoin between September 21 and 25 for $94.5 million. That brings the publicly traded treasury firm’s total holdings to 27,462 BTC, while questions remain about how long that weekly buying pace can last.
New Purchase and Balance Sheet
The purchase worked out to an average price of $85,396 per bitcoin. According to the Form 8-K that Strive filed with the U.S. Securities and Exchange Commission, the bitcoin reserve rose from 26,355 to 27,462 BTC.
At a bitcoin price of about $83,300 on Monday, September 28, that position was worth about $2.3 billion. The average cost basis across the full holding is around $80,862 per bitcoin, which still gives Strive some room compared with the current price.
CEO Matt Cole also said warrant exercises brought in another $12.4 million. According to him, 85% of the capital raised came from SATA, Strive’s preferred share on Nasdaq. The SEC filing also shows that the cash and USD-equivalent position rose from $229.6 million to $248.8 million.
Strive in the Bitcoin Treasury Market
With 27,462 BTC, Strive remains the fifth-largest publicly traded bitcoin treasury. The company trails MARA Holdings, Metaplanet, Twenty One Capital, and Strategy. In the same week, Strategy bought another 1,665 BTC, widening its lead even further.
The broader market for bitcoin treasury companies has been volatile this year. According to recent market data, many of these stocks have now fallen to or below the value of the crypto they hold. That makes funding new purchases less straightforward for some firms, especially if they keep relying on new share sales or preferred stock.
Why This Matters
For European crypto followers, this purchase shows how big the role of publicly traded companies has become in the bitcoin market. Recent estimates suggest that 179 listed companies in 30 countries together hold more than 1.29 million BTC, equal to about 6.2% of the total supply. That makes treasury companies a steady force in Bitcoin demand, even outside the traditional crypto market.
Strive’s common stock, traded under the ticker ASST on Nasdaq, was about 2% lower on Monday, September 28, than at the open. Over the past five trading days, the stock lost about 5%, while it was up more than 32% on a monthly basis. The source does not draw a direct link between that move and the recent bitcoin buys, so a causal connection cannot be confirmed.
