TLDR
- Strive purchased 469 Bitcoin for $36.6 million, bringing total holdings to 25,000 BTC
- The purchase was funded entirely through sales of SATA preferred stock, which surpassed $1 billion in notional value
- Strive is now the fifth-largest publicly traded corporate Bitcoin holder
- Strive shares rose over 7% on Monday, more than doubling in the past month
- CEO Matt Cole says becoming the second-largest corporate Bitcoin holder by year-end is possible but not his base case
Strive, a Bitcoin treasury company and asset manager, added 469 Bitcoin to its holdings last week, spending $36.6 million at an average price of just under $78,000 per coin. The purchase brings the company’s total Bitcoin holdings to exactly 25,000 BTC, worth roughly $1.95 billion at current prices.
Strive acquired an additional 469 $BTC for $36.6M at an average cost of $77,954 per bitcoin, bringing total holdings to ₿25,000.
100% of the capital raised came from SATA, which now has over $1B notional outstanding.
We increased amplification ratio to 53.5%.$ASST $SATA pic.twitter.com/Nu3EYIBS4R— Matt Cole (@ColeMacro) September 14, 2026
The acquisition was made between September 8 and September 11, according to a Form 8-K filing with the US Securities and Exchange Commission submitted on Monday.
Purchase Funded Entirely Through Preferred Stock
CEO Matt Cole confirmed that 100% of the capital used for the purchase came from sales of SATA, the company’s perpetual preferred stock. SATA has now crossed $1 billion in notional value outstanding, with shares outstanding increasing by around 402,541 over the purchase period to approximately 10.4 million shares.
Strive also increased its “amplification ratio” to 53.5%. The company defines this as the ratio of notional preferred equity outstanding and debt to Bitcoin net asset value. In simple terms, for every $100 of Bitcoin Strive holds, about $53.50 in preferred stock obligations and debt is outstanding.
As of September 11, the company held $204.2 million in cash and cash equivalents, along with 505,000 shares of Strategy’s STRC preferred stock valued at about $49.8 million.
The latest buy is a slowdown from the prior week, when Strive purchased 1,375 Bitcoin for around $109 million.
Strive’s Stock Price Climbs With Bitcoin Holdings
Strive’s Nasdaq-traded shares rose more than 7% on Monday, reaching around $29 and hitting a year-to-date high. The stock has more than doubled over the past month.
The rally pushed Strive’s market cap above Metaplanet, a Japanese Bitcoin treasury company that holds more Bitcoin. Strive’s market cap stood at around $2.5 billion on Monday, compared to $1.9 billion for Metaplanet.
Strive’s shares also moved above the $27 exercise price for warrants expiring in mid-October. If warrant holders exercise them, the company could receive more than $700 million in new capital.
Strive is currently the world’s fifth-largest publicly traded Bitcoin holder, behind Strategy, Twenty One, Metaplanet, and MARA.
To reach second place by year-end, Strive would need to overtake Twenty One, which currently holds 43,514 BTC. With 15 weeks left in 2026, Strive would need to buy around 1,234 Bitcoin per week to close that gap.
Strategy, the largest corporate Bitcoin holder, kept its holdings unchanged at 845,050 BTC for a second straight week. The company spent $139.3 million repurchasing its STRC preferred shares using its US dollar cash reserve.
Bitcoin was trading near $78,000 following a volatile Friday session where it briefly surged toward $80,000 before pulling back to around $77,000.
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