TheBlock
Strive bought 2,822 BTC for approximately $235 million, including fees and expenses, at an average price of about $83,266 between Oct. 12 and Oct. 13. The purchase brings its total holdings to 35,595 BTC, CEO Matt Cole said Wednesday. Investors have exercised 94% of the company’s traditional warrants, generating $369.2 million in expected gross proceeds, according to a Form 8-K filing.
Why it matters
Strive now reports more Bitcoin than MARA, which holds 35,577 BTC according to Bitcoin Treasuries data. That puts Strive ahead by 18 BTC in the reported totals and reinforces its position among the largest public corporate Bitcoin holders. Strategy, Metaplanet and Tether-backed Twenty One hold 848,250 BTC, 44,000 BTC and 43,514 BTC, respectively.
Cole has previously said Strive could become the world’s second-largest public Bitcoin holder by the end of 2026, while describing that outcome as uncertain. The latest purchase adds to the company’s holdings, but does not establish whether it will reach that target.
Market impact
Alongside the warrant proceeds, Strive proposed an initial public offering of 5 million shares of its 15% Series A Perpetual SATS preferred stock, with a stated amount of $100 per share. The offering remains subject to market and other conditions. Strive said proceeds could support Bitcoin and Bitcoin-related purchases, income-generating assets, working capital and other corporate purposes.
The filing links the latest accumulation to multiple potential sources of corporate capital: warrant exercises and a proposed preferred-stock offering. The proposed offering’s completion and the eventual use of proceeds remain unresolved.
Frequently asked questions
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How much Bitcoin did Strive buy, and at what average price?
Strive bought 2,822 BTC for approximately $235 million, including fees and expenses, at an average price of about $83,266.
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How much Bitcoin does Strive hold after the purchase?
Strive’s reported holdings rose to 35,595 BTC after the acquisition.
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How do Strive’s reported Bitcoin holdings compare with MARA’s?
Strive reported 35,595 BTC, compared with MARA’s 35,577 BTC, putting Strive ahead by 18 BTC in those reported totals.
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How much did Strive expect to raise from warrant exercises?
Exercises covering 13,674,703 shares generated $369.2 million in expected gross proceeds, and aggregate warrant exercises reached 94%.
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What could Strive use proceeds from its proposed preferred-stock offering for?
Strive said proceeds could fund Bitcoin and Bitcoin-related purchases, income-generating assets, working capital and other corporate purposes. The offering remains subject to market and other conditions.
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