Strive Asset Management Adds 1,107 Bitcoin in Latest Purchase

Strive kept its Bitcoin shopping streak alive last week, though its cart was a bit lighter.

The Dallas-based asset manager bought 1,107 BTC for about $94.5 million between Sept. 21 and Sept. 25, paying an average of $85,396 per coin including fees, according to a Form 8-K filed Monday with the SEC.

Its holdings now total 27,462 BTC, worth about $2.3 billion at Friday's closing price of $83,943, the company said.

That's a step down from the prior week, when Strive's stash grew by 1,355 BTC, based on its previous filings.

Once again, preferred stock footed most of the bill. "Warrant exercises generated another $12.4M. Including those proceeds, 85% of total capital raised came from SATA," CEO Matt Cole wrote on X.

SATA is Strive's variable-rate perpetual preferred stock, which pays dividends and lets the company raise money with less dilution for common shareholders. Its share count rose by roughly 1 million during the week to 12.2 million, the filing shows. At its $100 stated amount, that puts SATA's notional value at about $1.22 billion. Class A common shares rose by about 649,000.

Strive's cash pile also grew by $19.2 million to $248.8 million.

Strive leans heavily on SATA to fund its buys. Its 469 BTC purchase earlier this month, which lifted holdings to an even 25,000 coins, was paid for entirely with the preferred stock. A $109 million purchase in early September split funding 70/30 between SATA and common stock.

Strive ranks fifth among public Bitcoin holders, behind Strategy, Twenty One Capital, Metaplanet and MARA, according to Bitcoin Treasuries data. To catch Twenty One's 43,514 BTC by year-end, it would need about 16,050 more coins, or roughly 1,235 a week.