TheBlock
Strive (ASST) acquired another 1,375 BTC for approximately $109 million between Aug. 31 and Sept. 4 at an average price of $79,281 per coin, per a Tuesday Form 8-K filing. The buy lifts the firm's holdings to 24,531 BTC and pushes its SATA perpetual preferred stock to nearly $999 million in notional volume outstanding, just shy of the "billion-dollar wall" CEO Matt Cole flagged on X. About 70% of the capital raised during the week came from SATA sales, with the instrument adding 921,511 shares to reach nearly 10 million outstanding.
Why it matters
SATA is the funding engine that has separated Strive's accumulation pace from the cash-on-hand constraints that bind smaller BTC treasury peers. The instrument traded near its intended $100 par value through the week, a signal that the market is treating the preferred as a credible dollar proxy rather than a speculative equity bet. Cole has previously pointed to more than $700 million in outstanding warrants that could unlock an additional $1.4 billion for further bitcoin purchases once Strive shares clear the $27 exercise price. The shares touched $27.27 on Friday before slipping 3.5% to roughly $26.20 after Tuesday's open.
Market impact
At the current pace of roughly 1,200 BTC per week, Strive would overtake Twenty One Capital as the second-largest public bitcoin treasury before the end of 2026. The broader treasury race stalled at the top of the table: Strategy did not buy or sell bitcoin last week and continues to hold 845,050 BTC. Executive chairman Michael Saylor said the company instead repurchased $176 million of its STRC preferred and doubled its Digital Credit Securities Repurchase Program from $1 billion to $2 billion, holding $6.5 billion in USD assets as of Sept. 7. BTC itself recovered to $74,300 after falling to $73,700 earlier in the session, a six-day low that followed a brief push above $82,300 on Thursday.
Frequently asked questions
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How much bitcoin did Strive buy last week?
Strive acquired 1,375 BTC for approximately $109 million between Aug. 31 and Sept. 4, at an average price of $79,281 per coin, per a Tuesday Form 8-K filing.
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What is SATA and how did it fund the buy?
SATA is Strive's perpetual preferred stock. About 70% of the capital raised during the week came from SATA sales, lifting the instrument to nearly $999 million in notional volume outstanding, just below $1 billion.
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How does Strive compare to other public bitcoin treasuries?
Strive now holds 24,531 BTC. At a pace of roughly 1,200 BTC per week, the company would overtake Twenty One Capital as the second-largest public bitcoin treasury before the end of 2026.
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Did Strategy buy bitcoin last week?
No. Strategy did not buy or sell bitcoin last week and continues to hold 845,050 BTC. Executive chairman Michael Saylor said the company instead repurchased $176 million of its STRC preferred stock and doubled its Digital Credit Securities Repurchase Program from $1 billion to $2 billion.
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How much cash does Strive have on hand?
Strive's cash and equivalents rose from $183.5 million to $202.6 million during the week. The company also holds an unchanged 505,000-share position in Strategy's STRC preferred stock.
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