TheBlock
Strive (ASST) added 469 bitcoins to its corporate treasury last week, crossing the 25,000 BTC threshold at a cost of $36.6 million, or just under $78,000 per coin. The purchase was disclosed in a Form 8-K filing released Monday and brings Strive's total holdings to roughly $1.95 billion at current prices. Shares of ASST climbed more than 4% in early trading, tapping a year-to-date high near $29.
Why it matters
One hundred percent of the capital raised during the week came from sales of SATA, Strive's perpetual preferred stock, which recently crossed $1 billion in notional value outstanding. CEO Matt Cole raised the company's "amplification ratio" to 53.5%, the company's own measure of preferred equity and debt outstanding versus its BTC NAV. In plain terms, every $100 of bitcoin Strive holds now carries about $53.50 of preferred-stock and debt obligations. That is a leveraged treasury structure, not a passive one. Strive is using a perpetual financial instrument to fund incremental bitcoin accumulation rather than tapping equity markets or balance-sheet cash.
Market impact
Strive is now the world's fifth-largest public bitcoin holder, sitting behind Strategy (845,050 BTC), Twenty One (43,514 BTC), Metaplanet, and MARA. Cole has publicly modeled a path to second place by year-end, though he has called that an upside scenario rather than a base case. To overtake Twenty One, Strive would need to acquire another 18,515 BTC over the remaining 15 weeks of 2026, an average of roughly 1,234 BTC per week; the latest 469-BTC buy falls well short of that cadence. Meanwhile, Strategy held its 845,050 BTC flat for a second consecutive week and instead deployed $139.3 million in cash reserves to repurchase STRC preferred shares. The largest holder is now visibly in capital-return mode while the fifth-largest is still scaling up.
Frequently asked questions
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How much Bitcoin does Strive now hold?
Strive crossed 25,000 BTC after a 469-coin purchase disclosed in a Monday Form 8-K filing. Total holdings are worth roughly $1.95 billion at current prices near $78,000 per bitcoin.
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How did Strive fund its latest Bitcoin purchase?
One hundred percent of the $36.6 million came from sales of SATA, Strive's perpetual preferred stock instrument. SATA recently crossed $1 billion in notional value outstanding.
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What is Strive's amplification ratio?
It is Strive's own metric measuring preferred equity and debt outstanding against its BTC NAV. At 53.5%, every $100 of bitcoin held carries roughly $53.50 in preferred-stock and debt obligations.
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Where does Strive rank among public BTC holders?
Strive is the fifth-largest public bitcoin holder, behind Strategy (845,050 BTC), Twenty One (43,514 BTC), Metaplanet, and MARA. CEO Matt Cole has modeled a path to second place by year-end.
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Why is Strategy's flat holding notable?
Strategy left its 845,050 BTC unchanged for a second consecutive week and deployed $139.3 million in cash to repurchase STRC preferred shares instead, a signal of capital-return posture rather than accumulation.
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