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Strive bought 1,355 BTC for about $107.7 million last week, lifting its holdings to 26,355 BTC, according to an SEC Form 8-K. The company paid an average of $79,475 per bitcoin, and its holdings are now worth more than $2.25 billion with BTC trading around $85,600.
Why it matters
Strive remains the fifth-largest public bitcoin holder behind Strategy, Twenty One, Metaplanet and MARA. It needs another 17,160 BTC to pass Twenty One's 43,514 BTC, assuming Twenty One does not add to its holdings. With 14 full weeks left in 2026, Strive would need to acquire roughly 1,226 BTC per week to reach second place.
At its latest pace, Strive could overtake MARA, which holds 35,577 BTC, in the latter half of November. Metaplanet is next, with 43,000 BTC, leaving a tightly packed race among public companies building bitcoin treasury strategies.
Market impact
The purchase also marked the start of warrant exercises tied to Strive's ASST common stock. Holders exercised nearly 786,000 warrants, generating about $21.2 million in gross proceeds. Including that activity, SATA preferred stock provided nearly 58% of the money raised during the week and continued trading near its $100 par value.
TD Cowen raised its ASST price target from $32 to $44, citing faster bitcoin accumulation and higher BTC held per fully diluted share. The firm now expects Strive to end 2026 with 32,105 BTC, up from 27,156, while raising its projected BTC Yield from 54.1% to 70.1%.
ASST shares fell about 1.5% to around $29.65 early Monday after reaching $31.50 in premarket trading. The update arrived as bitcoin climbed above $85,000 and short liquidations exceeded $648 million. Strategy also bought 950 BTC, taking its holdings to 846,000 BTC.
Frequently asked questions
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How much bitcoin does Strive hold after its latest purchase?
Strive holds 26,355 BTC after buying 1,355 BTC for about $107.7 million. The company paid an average of $79,475 per bitcoin.
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What does Strive need to reach the No. 2 public bitcoin treasury spot?
Strive needs another 17,160 BTC to pass Twenty One, which holds 43,514 BTC, assuming Twenty One does not add to its position.
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How quickly could Strive overtake MARA?
Strive could overtake MARA in the latter half of November if it maintains the pace of its latest bitcoin purchases. MARA currently holds 35,577 BTC.
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Why did TD Cowen raise its Strive price target?
TD Cowen raised its ASST price target from $32 to $44, citing faster-than-expected bitcoin accumulation and growth in bitcoin held per fully diluted share.
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How did Strategy's bitcoin holdings change in the same period?
Strategy bought 950 BTC, bringing its total holdings to 846,000 BTC. It also spent about $174 million repurchasing STRC preferred shares.
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