Strive Adds 469 Bitcoin to Reach 25,000 BTC Treasury
Bitcoin treasury firm Strive has expanded its holdings to 25,000 BTC after purchasing another 469 Bitcoin for approximately $36.6 million. The latest acquisition was funded entirely through sales of the company’s SATA perpetual preferred stock, highlighting its continued push to grow its cryptocurrency reserves.
According to a Monday filing with the United States Securities and Exchange Commission, Strive bought the Bitcoin between Sept. 8 and Sept. 11 at an average price of $77,954 per BTC, including fees and expenses. Bitcoin was trading at around $78,823 at the time.
Strive CEO Matt Cole said the purchase was financed through SATA proceeds. The preferred stock has now surpassed $1 billion in notional value outstanding.
The company’s filing showed that SATA shares outstanding rose by 402,541 during the purchase period, reaching approximately 10.4 million shares. Strive’s approach allows it to raise capital through preferred stock while continuing to add Bitcoin to its treasury.
As of Sept. 11, the company held $204.2 million in cash and cash equivalents, along with 505,000 shares of Strategy’s STRC preferred stock valued at approximately $49.8 million.
Strive strengthens its position among Bitcoin treasury firms
The latest purchase reinforces Strive’s position as the fifth-largest publicly traded corporate Bitcoin holder. The company moved into the top five in late August after acquiring 1,800 BTC, overtaking crypto exchange Bullish.
Strive was co-founded in 2022 by Vivek Ramaswamy, who is now a Republican candidate for governor of Ohio. The company became a publicly traded Bitcoin treasury firm in September 2025 after merging with Asset Entities.
Its stock has also gained momentum alongside its growing Bitcoin holdings. Strive shares, listed on Nasdaq, rose more than 7% on Monday to around $29, according to Yahoo Finance data. The increase extended a rally that has more than doubled the stock’s price over the past month.
The surge has pushed Strive’s market capitalization above that of Japan-based Bitcoin treasury company Metaplanet. As of Monday, Strive was valued at approximately $2.5 billion, compared with Metaplanet’s $1.9 billion, despite Metaplanet holding considerably more Bitcoin.
Warrants could provide additional funding
Strive’s rising share price has also moved its stock above the $27 exercise price for warrants set to expire in mid-October. If warrant holders exercise their rights, they would purchase Strive shares at $27 each, potentially generating more than $700 million in additional capital for the company.
That funding could give Strive further room to expand its Bitcoin treasury, although the actual amount raised would depend on warrant exercises.
Cole said earlier this month that Strive becoming the second-largest publicly traded corporate Bitcoin holder by the end of the year was “not out of the realm of possibility.” However, he added that it was not his base case.
With 25,000 BTC now in its treasury, Strive continues to build its position among corporate Bitcoin holders while using preferred stock and potential warrant proceeds to support its expansion.