Nasdaq-listed bitcoin holding company Strive has increased its treasury to 25,000 BTC, bringing its total bitcoin holdings to nearly $2 billion following its latest acquisition.
Strive’s latest bitcoin buy and ranking
On Monday, Strive announced it had purchased 469 bitcoin at an average price of approximately $77,954 per BTC, expanding its reserves further. With this move, Strive remains the fifth largest publicly traded bitcoin holding company, trailing behind Strategy, Twenty One, Metaplanet, and MARA in total bitcoin assets.
According to data compiled by Bitcoin Treasuries, institutions such as Strategy and MARA have utilized different funding strategies and approaches to maintain their larger positions. Strive’s recent acquisition solidifies its stance among industry leaders.
| Company | BTC Holdings | Rank | Funding Approach |
|---|---|---|---|
| Strategy | Over 200,000 | 1 | Leverage + Equity |
| Twenty One | Estimated 44,000 | 2 | Leverage |
| Metaplanet | Over 10,000 | 3 | Equity, Debt |
| MARA | Almost 16,000 | 4 | Mining + Leverage |
| Strive | 25,000 | 5 | Equity (Debt-free) |
Funding strategy and market response
Strive CEO Matt Cole stated that the company raised all of the capital used for this latest bitcoin purchase through the sale of SATA, its perpetual preferred stock. He confirmed in a post on X that no outside borrowing or debt instruments were used in the transaction.
Shares of Strive (ASST), which trades on the Nasdaq, climbed over 6% after news of the additional bitcoin buy. Market participants appeared to react positively to both the asset increase and to Strive’s continued commitment to maintaining a debt-free balance sheet.
Matt Cole emphasized Strive’s unique approach as, “debt-free with zero margin requirements and zero encumbered bitcoin.”
Background and leadership
Strive, headquartered in Dallas, Texas, entered the market in 2025 as an official bitcoin treasury. The company was launched by Vivek Ramaswamy, a former Ohio gubernatorial candidate and entrepreneur in the technology sector.
In January 2026, Strive completed the acquisition of Semler Scientific through an all-stock deal, marking the first time a publicly traded bitcoin treasury acquired a peer via such a transaction.
Mini dictionary: Strive is a Nasdaq-listed bitcoin treasury company specializing in the acquisition and holding of bitcoin for its investors. Semler Scientific is a former independent public company that was fully acquired by Strive in an all-stock merger, making it the first peer-to-peer acquisition of its kind among bitcoin treasuries.
Unique approach among public bitcoin treasuries
Unlike several major bitcoin treasuries that have used leverage or debt to expand their bitcoin positions, Strive relies exclusively on equity sales to fund its purchases. The company does not hold traditional bonds or maintain credit lines, and it avoids leveraged trading positions, reducing risk of forced liquidations during market downturns.
Analysts note that Strive’s debt-free approach distinguishes it from competitors who have sought more aggressive, leveraged expansions. This positioning could appeal to investors seeking exposure to bitcoin through an unleveraged equity mechanism.
Strive’s model allows investors to access amplified bitcoin returns with no leverage or credit risk linked to the treasury operations.
