Strive Buys 3,311 BTC for $280M, Lifting Holdings to 32,773 BTC

Strive, the Nasdaq-listed bitcoin treasury company trading as ASST, bought 3,311 BTC between Oct. 5 and Oct. 9, 2026, at an average of about $84,500 per coin including fees, or roughly $280 million in total. The company disclosed the purchase in a Form 8-K on Tuesday, Oct. 13, and CEO Matt Cole posted the numbers on X at 8:02 AM ET. Holdings rose from 29,462 to 32,773 BTC.

Details

This is Strive's biggest weekly buy since it went public. A week earlier, from Sept. 28 to Oct. 2, the company bought 2,000 BTC at $84,422. The only larger one-time addition was January's all-stock merger with Semler Scientific, according to The Block.

Warrants did most of the funding this time. Cole said holders exercised $208 million worth, with about 15.3 million warrants left to expire at 5 PM ET on Oct. 13. The filing shows the mechanics: shares underlying traditional warrants fell by 7,993,806 to 15,255,900, while Class A shares outstanding rose by 9,461,103 to 101,169,907. A week earlier, warrant exercises brought in just $56.7 million, per Bitcoin Treasuries.

SATA, the perpetual preferred stock that usually does the heavy lifting for Strive, contributed less: shares outstanding grew by 532,094 to 14,030,176, or about $53 million at the $100 par. The board kept the SATA dividend at 13% annualized for November, and the $100 minimum issuance price is now written into the stock's governing documents, which Cole called "a binding restriction in governing docs, formalizing the protection." Even after the purchase, cash and equivalents rose from $284.7 million to $310.3 million, and Strive carries no debt. It also holds 505,000 shares of Strategy's STRC preferred, worth $50.3 million.

Michael Saylor, Strategy's executive chairman, replied to Cole with two words: "₿ig strides." Strategy itself added only 250 BTC last week, as we reported.

What it means for the market

Per Bitcoin Treasuries, Strive crossed 30,000 BTC for the first time and now ranks fifth among public companies, overtaking Adam Back's Bitcoin Standard Treasury Company at 30,021 BTC. It trails fourth-placed MARA, at 35,577 BTC, by 2,804 coins; above them sit Twenty One (43,514 BTC), Metaplanet (44,000 BTC) and Strategy (848,250 BTC). Cole has said he wants Strive to end 2026 as the world's second-largest public holder of bitcoin.

The funding mix matters more than the league table. While Strategy is spending nine times more on STRC buybacks than on bitcoin, Strive is accelerating through warrant exercises and SATA sales, raising equity and preferred capital rather than borrowing. Once the remaining warrants expire on Oct. 13, that source is gone, and the pace will again depend on demand for SATA. The latest average price of $84,500 was slightly above the market: BTC traded near $83,700 as of 10:20 AM ET on Oct. 13 (live price on the daily summary). For how institutional flows line up with price, see our explainer on spot bitcoin ETFs.