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Strive bought 4,045 Bitcoin for about $335 million between Oct. 12 and Oct. 16 at an average price of $82,803 per coin including fees, lifting its total holdings to 36,818 BTC, according to Cointelegraph. The Nasdaq-listed company (ticker ASST) disclosed the purchase in a Monday filing with the US Securities and Exchange Commission.
The buy was funded largely by warrant exercises. Cryptobriefing reported that warrants covering 13.7 million shares were exercised at a 94% participation rate, generating about $369.2 million in expected gross proceeds. Cointelegraph put the figure at approximately $369 million, with 13.7 million common shares issued.
Also read: Strategy Buys 334 Bitcoin, Spends $176.3M on STRC Buybacks
Key facts
- Strive acquired 4,045 BTC at an average of $82,803 per coin, including fees and expenses.
- Total holdings now stand at 36,818 BTC, valued at roughly $3 billion.
- Warrants covering 13.7 million shares generated about $369.2 million in gross proceeds, at a 94% participation rate, per Cryptobriefing.
- Strive priced a $630 million offering of 7 million shares of its 15% Series A Perpetual SATS preferred stock, set to settle Oct. 20.
- Shares rose about 7.7% to $25.95 in late-morning trading Monday, per Yahoo Finance data cited by Cointelegraph.
A debt-free balance sheet and dilution math
Strive’s effective share count rose 12.4% after the warrant exercises, roughly matching the 12.3% increase in Bitcoin holdings, so BTC per share was largely unchanged. The prior week’s 3,311 BTC purchase grew holdings 11.2% against a 9.4% rise in the effective share count. Cryptobriefing reported the company has kept its balance sheet debt-free.
Preferred stock still carries a recurring obligation: the SATS issue pays a fixed 15% annual dividend, payable each business day from Nov. 9, subject to board approval. That dividend ranks ahead of common shareholders. Proceeds from the offering are earmarked for general corporate purposes, with expanded Bitcoin purchases on the list.
Also read: Strategy Buys 1,665 Bitcoin for $142.7M, Holdings Hit 847,666 BTC
Fourth place, with MARA selling
Strive is now the fourth-largest publicly traded corporate Bitcoin holder, ahead of MARA Holdings. Cryptobriefing reported that only Strategy, Metaplanet and Twenty One Capital hold more. Cointelegraph noted that MARA has been selling: wallets linked to the miner deposited about $82 million of crypto into Binance and Gate in recent days, as tracked by Arkham. Cryptobriefing reported Strive began 2026 with about 7,525 BTC, a climb of more than 380% since. CEO Matt Cole has described a possible path to second place among public holders by year-end, without treating it as assured.
Why it matters
The trade shows how treasury companies are converting equity-linked instruments into Bitcoin rather than relying on operating cash. For ASST holders, every warrant exercise and share sale dilutes existing owners; the bet is that BTC per share grows faster than the share count. Strive’s pace also stands out against MARA, a former peer now reducing exposure. This is not financial advice, and the crypto market is volatile and uncertain.
What to watch
The $630 million SATS offering is scheduled to settle Oct. 20, and the first daily dividend payment is set for Nov. 9, subject to board approval. Watch how quickly proceeds appear as new Bitcoin on the balance sheet, and whether Cole’s year-end ranking goal holds.
Reported by cointelegraph.com.
Sources: Cointelegraph, Cryptobriefing