Strive (NASDAQ: ASST) has continued its aggressive push to climb the ranks among public companies holding Bitcoin, announcing its third-largest purchase to date. The company acquired approximately 2,000 BTC in a single move, paying $169 million and significantly advancing its position on the corporate Bitcoin leaderboard.
Strategy and Strive increase Bitcoin holdings
Michael Saylor’s Strategy (NASDAQ: MSTR) also reported a new Bitcoin purchase, adding 334 BTC for nearly $29 million. This acquisition raised Strategy’s total Bitcoin holdings to 848,000 BTC, reinforcing its lead as the largest corporate holder of the cryptocurrency.
The 8-K filing submitted by Strategy to the US Securities and Exchange Commission detailed an average acquisition price of $85,838.80 per Bitcoin. Strategy financed the $28.7 million expenditure with $15.7 million obtained from selling 92,894 MSTR shares, while the remainder came from its US dollar reserves.
In the same period, Strive’s newly disclosed purchase represents around six times the volume added by Strategy. The purchase, revealed on October 5, continues Strive’s recent pattern of large Bitcoin transactions.
Strive, under CEO Matt Cole, has accelerated its weekly Bitcoin purchases, while Strategy’s growth rate has tempered as it maintains a record-sized stash.
Just weeks earlier, Strive made additional large acquisitions including 1,355 BTC for $107.7 million at an average price of $79,475, surpassing Strategy’s acquisition of 950 coins on the same day. The company also reported earlier transactions of 1,800 BTC and 469 BTC in late August, bringing its total Bitcoin reserve to 29,462 BTC as of October 5.
Buyback activity and funding strategies
Strategy’s recent period also featured significant preferred stock buybacks. The company paid $73.7 million to repurchase 740,634 shares of STRC preferred stock and spent $102.6 million on similar buybacks the prior week, according to industry sources.
Strategy reported an estimated quarterly gain of $20.91 billion from its digital asset holdings for the quarter ending September 30. The company has been leveraging a combination of equity sales and cash reserves to fund Bitcoin purchases, while a major share of its resources is allocated to preferred-share repurchases and dividend distributions.
By contrast, Strive has relied heavily on its SATA Variable Rate Series A Perpetual Preferred Stock to fund Bitcoin acquisitions. SATA pays a daily dividend and recently surpassed $1 billion in notional value, as reported by financial publications.
Strive also benefited from warrant exercises tied to its common stock, raising approximately $21.2 million in gross proceeds. During Strive’s September buying week, SATA represented 57.7% of the capital raised for Bitcoin acquisitions.
Mini dictionary: SATA is Strive’s Variable Rate Series A Perpetual Preferred Stock, a type of corporate security paying daily dividends and designed to help fund large-scale investments by providing an ongoing yield to holders while raising capital for the issuing company.
Leaderboards and year-end targets
Strive currently ranks fifth among public corporate Bitcoin holders, behind Strategy, Tether-backed Twenty One, Metaplanet, and MARA. Strategy leads the field with 848,000 BTC, while Strive’s holdings reached 29,462 BTC.
Strive has set a goal to move into the second position among public Bitcoin treasury holders by the end of the year. Most of its Bitcoin accumulation is financed via its SATA program and recent warrant exercises.
| Company | BTC Holdings | Rank |
|---|---|---|
| Strategy (MSTR) | 848,000 | 1 |
| Metaplanet | 44,000 | 2 |
| Twenty One | 43,514 | 3 |
| MARA | 35,577 | 4 |
| Strive (ASST) | 29,462 | 5 |
Second place remains Strive’s stated target for year-end, powered largely by SATA and robust capital-raising efforts supporting its recent buying momentum.
