Strive increased its cash reserves by $17.1 million in the same week it spent $81.5 million acquiring 1,110 bitcoin, according to its latest SEC filing. Despite the sizable outflow for new cryptocurrency holdings, the Dallas-based asset manager ended the week with more cash on hand, indicating that its capital inflows from stock sales outpaced its spending on digital assets.
Strong capital inflows and bitcoin acquisition
Strive reported that as of August 21, its cash and cash equivalents reached $171.9 million, up from $154.8 million just a week earlier. This rise came even as it purchased 1,110 bitcoin at an average price of about $73,409 per coin during the same period.
The company funded these transactions through at-the-market sales of its common stock and preferred shares, including its ASST and SATA series. Outstanding Class A shares increased by more than 3.6 million, reaching 79,890,888, while SATA share count rose by 441,313.
Strive continued to hold 505,000 shares of Strategy’s STRC preferred stock, with the value of that position rising to $48.6 million. In recent weeks, Strive had acquired bitcoin in smaller batches: 147 coins between August 3 and 7 at around $64,800 each, and another 79 coins the following week at $63,231 each. Last week’s purchase was about five times greater than the previous two rounds combined, and at a notably higher price per coin.
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AAPLBitcoin itself climbed almost 25% last week, closing Friday at $77,387 before briefly trading near $80,000 on Monday. Meanwhile, shares of Strive’s ASST closed on Friday at $18.22, up about 13%, and traded over 7% higher on Monday following the filing.
Corporate bitcoin holdings and market positioning
With its most recent acquisition, Strive now holds 21,356 BTC, a 5.5% increase from its previous position of 20,246 BTC in mid-August. This makes Strive the seventh-largest public company in terms of bitcoin holdings. The largest positions are held by Michael Saylor’s Strategy with 840,447 BTC, Twenty One Capital with 43,514 BTC, Metaplanet at 43,000 BTC, MARA with 35,577 BTC, and Bitcoin Standard Treasury Company at 30,021 BTC.
| Company | BTC Holdings |
|---|---|
| Strategy | 840,447 |
| Twenty One Capital | 43,514 |
| Metaplanet | 43,000 |
| MARA | 35,577 |
| Bitcoin Standard Treasury Company | 30,021 |
| Strive | 21,356 |
Strategy reported selling about $2 billion of its shares between August 17 and 23 while holding onto its bitcoin. Strive rebranded in 2025 as the first publicly traded asset-management bitcoin treasury company, following its all-stock acquisition of Semler Scientific in January 2026.
On August 10, Strive reported a net loss of $257.6 million, primarily attributed to the declining fair value of its bitcoin holdings during the previous quarter.
CEO outlook and bitcoin market analysis
Matt Cole, CEO of Strive, stated over the weekend that he maintains “very strong” conviction that the bitcoin bear market has concluded, referencing the asset’s breakout against both the US dollar and gold.
Matt Cole links bitcoin’s turnaround to its performance against both gold and the US dollar, pointing out that it bottomed against gold in February and the dollar in July, suggesting a correlation in these market moves.
Cole noted that the bitcoin-to-gold ratio has historically signaled shifts in relative performance between the two assets. He also commented that Strive continued to add to its bitcoin holdings during market downturns, purchasing additional coins when prices were in the low $60,000s.
Strive describes itself as a Dallas-based asset manager with a focus on digital assets, aiming to consolidate its position as a leading corporate holder of bitcoin.
Mini dictionary: Strive, an asset management company based in Dallas, is recognized for its aggressive strategy in acquiring and holding bitcoin as part of its corporate treasury. The firm became the first publicly traded asset-management bitcoin treasury company after its 2025 rebranding and the acquisition of Semler Scientific in 2026.
