TheBlock
Bitcoin treasury company Strive (ASST) added 1,223 BTC for $100 million between Oct. 14 and Oct. 16, lifting total holdings to 36,818 BTC, according to an 8-K filing with the SEC. Combined with the 2,822 BTC it bought for $235 million earlier in the week, Strive acquired 4,045 BTC in a single week and holds its place as the fourth-largest publicly traded corporate bitcoin holder.
Why it matters
The pace is the story. Strive has repeatedly outpaced segment leader Strategy (848,517 BTC) in recent weeks, and CEO Matt Cole has set an explicit target of ending the year as the second-largest public bitcoin holder, behind only Strategy. Surpassing Metaplanet's current 44,000 BTC would require an average purchase of around 700 BTC per week, a bar the firm just cleared.
The financing behind the buying is also scaling. Strive ended Oct. 16 with $317.5 million in cash, up from $310.3 million a week earlier, after warrant exercises brought in roughly $369.2 million. It priced a new offering of 7 million SATS preferred shares on Oct. 15, expected to raise approximately $630 million before expenses, settling Oct. 20. The company also still holds 505,000 shares of Strategy's STRC preferred stock, valued at $49.3 million.
Market impact
Strive's accumulation adds persistent structural demand for BTC at a time when the top five corporate holders (Strategy, Metaplanet, Twenty One, MARA, and Strive) together control well over 1 million BTC. Watch whether the SATS preferred raise settles on schedule and whether weekly purchases stay above the ~700 BTC threshold needed to overtake Metaplanet, which would mark the fastest treasury reshuffle in the sector's short history.
Frequently asked questions
-
How much bitcoin does Strive now hold?
Strive holds 36,818 BTC after buying 1,223 BTC for $100 million between Oct. 14 and Oct. 16, per its 8-K filing with the SEC. That makes it the fourth-largest publicly traded corporate bitcoin holder.
-
What does Strive need to overtake Metaplanet?
Metaplanet currently holds 44,000 BTC. Strive would need to acquire an average of roughly 700 BTC per week to surpass that stash and become the second-largest public bitcoin holder by year end, per CEO Matt Cole's stated goal.
-
How is Strive funding its bitcoin purchases?
Through a mix of instruments: warrant exercises brought in about $369.2 million, the company held $317.5 million in cash as of Oct. 16, and it priced a 7 million-share SATS preferred offering on Oct. 15 expected to raise approximately $630 million before expenses.
-
Who are the largest public corporate bitcoin holders?
Strategy leads with 848,517 BTC, followed by Metaplanet at 44,000 BTC, Twenty One at 43,514 BTC, Strive at 36,818 BTC, and MARA at 35,577 BTC, per Bitcoin Treasuries data.
-
Does Strive hold any of Strategy's stock?
Yes. Strive continues to hold 505,000 shares of Strategy's STRC preferred stock, valued at $49.3 million as of Oct. 16, alongside its roughly 14 million outstanding SATA preferred shares.
WuBlockchain
CoinTelegraph
WatcherGuru
CoinDesk
Lookonchain