TLDR
- Strive (ASST) stock fell about 2% to $20.19 in early Friday trading.
- The company reported $509 million in Q3 net income, driven by $533.7 million in unrealized Bitcoin gains.
- Strive bought 15,124 BTC in October and now holds 43,124 BTC.
- It sits fourth among public corporate holders and needs about 877 BTC to pass Metaplanet.
- Strive ended October with $490.4 million in cash after a $609 million preferred stock raise.
Strive (ASST) stock slipped about 2% to $20.19 in early trading Friday. The drop came right after a big third-quarter profit report.
The company posted $509 million in net income for the quarter. Paper gains on its Bitcoin did the heavy lifting.
Unrealized Bitcoin gains reached $533.7 million. Diluted earnings came in at $5.24 per share.
STRIVE RELEASES 3Q26 EARNINGS
– $ASST total return outperformed BTC by 103.7% YTD
– Bitcoin Yield of 63.2% YTD
– Bitcoin $ Gain of $9.00 per ADSO YTD
– Net Income attributable to common equity of $474.8MYTD figures through 9/30/26$ASST $SATA $SATS
— Strive (@Strive) November 6, 2026
The stock has now lost more than 31% over the past month. Bitcoin fell about 12% over the same stretch and traded near $75,600.
Revenue was small, at roughly $2.7 million. It came mostly from investment advisory fees and the medical device business acquired through the January takeover of Semler Scientific.
The Race for Second Place
Strive bought 15,124 Bitcoin in October. That lifted its holdings to 43,124 BTC as of Oct. 30, worth roughly $3.25 billion.
It also added 8,136 BTC in the third quarter, ending September with 28,000 BTC. Total purchases for the first 10 months of 2026 come to 35,497 BTC.
That makes Strive the fourth-largest public corporate Bitcoin holder, per BitcoinTreasuries.NET. Only Strategy, Metaplanet and Twenty One hold more.
Twenty One Capital is just 390 BTC ahead. Metaplanet, in second place, holds 44,000 BTC, so Strive needs about 877 more to pass it if neither company buys again.
CEO Matt Cole said in early September that finishing the year as the No. 2 holder was possible. He also said it was not his base-case scenario.
Cash, Preferred Stock and What Comes Next
Strive ended October with $490.4 million in cash. It also holds about $50.1 million in Strategy’s STRC preferred stock.
In October, it raised about $609 million in net proceeds from its SATS perpetual preferred offering, which pays a 15% annual dividend. The company has not said how much will go to Bitcoin, and it later launched a $1 billion program to sell more SATS.
Strive reported an 18.5% “bitcoin yield” for the quarter. That metric tracks growth in Bitcoin holdings against its outstanding stock count.
Cole wrote on X that “Bitcoin is the hurdle rate at Strive.” He credited Bitcoin-per-share growth for ASST beating Bitcoin by more than 100% this year.
The company is also weighing banking, brokerage, decentralized finance, reinsurance and tokenization. Chief risk officer Jeff Walton told Cointelegraph the firm sees chances in structured finance and in yield “not correlated to Bitcoin or crypto.”
ASST was down about 2% at roughly $20.20 in the first hours of trading Friday.
