Strive, a Nasdaq-listed company specializing in corporate treasury management, has boosted its Bitcoin holdings with a new purchase of 2,822 BTC worth approximately $235 million. The acquisition, disclosed by CEO Matt Cole, took place between October 12 and October 13 at an average price of $83,266 per bitcoin.
Record-breaking Bitcoin reserves
This latest buy raised Strive’s total corporate Bitcoin stockpile to 35,595 BTC. With this figure, Strive overtook MARA Holdings, whose holdings stood at 35,577 BTC, securing fourth place among publicly listed companies with the largest Bitcoin reserves. The top three positions remain with Strategy (848,250 BTC), Metaplanet (44,000 BTC), and Twenty One Capital (43,514 BTC).
Just days before, Strive had completed another significant purchase, adding 3,311 BTC at an average price of $84,500, amounting to roughly $280 million. This prior acquisition raised the company’s reserves from 29,462 to 32,773 BTC.
Strive now holds 35,595 BTC in its treasury, topping MARA Holdings by 18 BTC and reaffirming its ongoing commitment to expand corporate crypto reserves.
In total, Strive acquired 6,133 BTC over the two most recent transactions, a combined outlay of around $515 million. The acquisitions, though occurring at different times, were announced on consecutive days, reflecting an 8.6% increase in Strive’s reserves.
Expansion of crypto treasury
Earlier in the year, Strive expanded its cryptocurrency assets by acquiring Semler Scientific. This move added approximately 5,048 BTC to Strive’s reserves. With the latest Bitcoin purchases, Strive’s treasury management strategy appears focused on maintaining long-term exposure to leading digital assets.
Strive’s corporate Bitcoin reserves now stand just ahead of MARA Holdings, but well below the leaders in this space.
| Company | Bitcoin Holdings (BTC) |
|---|---|
| Strategy | 848,250 |
| Metaplanet | 44,000 |
| Twenty One Capital | 43,514 |
| Strive | 35,595 |
| MARA Holdings | 35,577 |
CEO Matt Cole previously mentioned the possibility for Strive to move up to the second position by year-end, but noted this was not his base-case expectation in September.
Financing and capital structure
Alongside the new Bitcoin acquisition, Strive announced the exercise of 13,674,703 Class A common share warrants, resulting in gross proceeds of approximately $369.2 million. The exercise took place on October 12 and 13, with no outstanding traditional warrants remaining from the company’s latest private investment round.
The company noted that warrants allow the purchase of shares at predetermined prices, generating immediate cash inflow but also increasing the total number of shares in circulation.
Mini dictionary: Warrants are financial instruments that give holders the right, but not the obligation, to purchase company stock at a fixed price by a certain date. Companies often use warrants to raise capital and incentivize investors.
Strive has not disclosed what portion of the new proceeds funded the most recent Bitcoin acquisition, but maintains multiple financing channels including preferred stock and other equity offerings for its treasury operations.
Despite the aggressive accumulation, Strive’s shares came under pressure prior to the announcement. ASST stock closed at $27.59 on October 13, reflecting a decrease of 0.43%. The downward trend continued into pre-market trading on October 14, although there were no remarkable market reactions following the SEC filing.
Market performance and outlook
For the longer term, ASST stock has posted a strong performance, gaining approximately 87% year-to-date and more than 120% over the past three months, according to MarketBeat data.
Future Bitcoin acquisitions by Strive will depend on the company’s ongoing capital allocation strategies. Management has reaffirmed its approach of pairing treasury expansion with new financing options.
With continued BTC purchases and new capital inflows, Strive aims to remain a key player in the corporate crypto treasury sector while adapting its strategy to market dynamics.
