Summary
- Strive purchased 1,107 BTC from September 21 to September 25 at an average price of $85,396, increasing its total holdings to 27,462 BTC valued at approximately $2.3 billion.
- CEO Matt Cole noted that 85% of the capital was sourced from SATA preferred stock, which included $12.4 million from warrant exercises.
- As the fifth-largest public Bitcoin holder, Strive requires around 1,235 BTC weekly to catch up with Twenty One by the end of the year.
Strive has continued its Bitcoin acquisition trend, albeit with a smaller purchase last week.
The Dallas-based asset management firm acquired 1,107 BTC for roughly $94.5 million between September 21 and September 25, with the average cost per coin being $85,396, as detailed in a Form 8-K filed with the SEC.
This latest transaction brings Strive's total Bitcoin holdings to 27,462 BTC, equating to about $2.3 billion based on Friday's closing price of $83,943.
This marks a decrease from the previous week when Strive's holdings increased by 1,355 BTC according to earlier filings.
The majority of this purchase was financed through preferred stock. "Warrant exercises contributed an additional $12.4 million. Overall, 85% of the total capital raised came from SATA," CEO Matt Cole shared on X.
Strive acquired 1,107 $BTC for $94.5M at an average cost of $85,396 per bitcoin, raising total holdings to ₿27,462.
Warrant exercises generated another $12.4M. Including those proceeds, 85% of total capital raised came from SATA.$ASST $SATA pic.twitter.com/duihTtFKrm
— Matt Cole (@ColeMacro) September 28, 2026
SATA is Strive's variable-rate perpetual preferred stock, which provides dividends and allows the firm to raise funds while minimizing dilution for common shareholders. The number of SATA shares increased by approximately 1 million during the week, totaling 12.2 million. At a stated amount of $100, this gives SATA a notional value of around $1.22 billion. Additionally, Class A common shares rose by about 649,000.
The company's cash reserves also saw an increase of $19.2 million, reaching $248.8 million.
Strive heavily relies on SATA for its acquisitions. Its earlier purchase of 469 BTC, which brought its total to 25,000 coins, was entirely funded through preferred stock. A $109 million acquisition in early September was financed 70/30 between SATA and common stock.
BitcoinBTC · USD$84,045−2.33%24H7D1M1YYTDSep 21Sep 23Sep 25Sep 27Sep 28$87.2k$85.7k$84.2k$82.7k24h HighHigh$84,94524h LowLow$82,581VolVol$1.8BMarket projectionsOdds by MyriadThis weekBelow $84,000Below $84k51% chanceThis monthBelow $84,000Below $84k51% chance→Buy Bitcoin with USDTPowered by Jupiter$50$100$500BuyPrice data by CoinGeckoCoinGeckoMore Bitcoin news and projections →Currently, Strive holds the fifth-largest Bitcoin portfolio among public entities, following Strategy, Twenty One Capital, Metaplanet, and MARA, according to Bitcoin Treasuries data. To catch Twenty One's 43,514 BTC by the end of the year, Strive would need an additional 16,050 coins, averaging about 1,235 per week.
Other treasury firms also reported acquisitions on Monday. Strategy added 1,665 BTC for $142.7 million, boosting its total to a record 847,666 BTC. Additionally, Tom Lee's Bitmine acquired 17,362 ETH valued at approximately $47 million, increasing its share to 4.9% of Ethereum's supply.