Strive, an asset management firm based in Dallas and traded on NASDAQ as ASST, has advanced to the fifth position among publicly listed corporate Bitcoin holders. After acquiring 1,800 BTC last week, Strive’s total Bitcoin holdings increased to 23,156 BTC, valued at approximately $1.8 billion as of August 31. This accumulation allowed the firm to overtake Bullish, an exchange operator recently listed on the New York Stock Exchange under BLSH.
Move up the corporate Bitcoin rankings
Prior to this recent purchase, Strive held 21,356 BTC as of August 24. Meanwhile, Bullish, which had reduced its exposure by selling 1,700 BTC at the end of June, held 22,000 BTC during the same period.
Both companies remain behind MARA Holdings, which holds 35,577 BTC, and far below Strategy, Michael Saylor’s firm, which currently owns 845,050 BTC following a new token acquisition in June. These positions reflect the rapid changes among the largest institutional Bitcoin holders as public companies increasingly participate in the market.
| Company | BTC Holdings | Value (approx.) |
|---|---|---|
| Strategy | 845,050 | $65.8 billion |
| MARA Holdings | 35,577 | $2.8 billion |
| Strive | 23,156 | $1.8 billion |
| Bullish | 22,000 | $1.7 billion |
Funding expansion through equity and preferred shares
Strive has primarily financed its Bitcoin purchases by issuing both common stock (ASST) and preferred stock (SATA). The firm’s SATA security, which pays a 13% annualized dividend distributed every business day, has played a central role in this strategy. CEO Matt Cole described SATA as a unique instrument in US markets, noting that it supports most of the company’s buying activity when it trades near its $100 par value.
ETH
SOL
BSC
ROBINHOOD
USDT
AAPLThe most recent weekly purchase of 1,800 BTC followed a previous acquisition costing $81.5 million for 1,110 BTC between August 17 and 21. Over the same period, Strive’s cash reserves climbed to $171.9 million, aided by $17.1 million in proceeds from at-the-market sales of both common and preferred shares.
Strive entered the list of major corporate Bitcoin holders after merging with Asset Entities in September 2025. Its expansion continued with an all-stock purchase of Semler Scientific, a medical device firm, in January 2026.
Mini dictionary: Bullish is a digital asset exchange operator that became publicly listed following its $1.1 billion initial public offering in August 2025. Led by Tom Farley, former president of the New York Stock Exchange, Bullish has positioned itself as a treasury-focused firm within the digital assets sector.
Profit swings and strategy outlook
Strive continued aggressive Bitcoin purchases even after reporting a net loss of $257.6 million for the quarter ending June 30, as disclosed on August 10. The company attributed 94% of that loss to declines in Bitcoin’s price and its stake in Strategy’s preferred shares.
The Semler Scientific medical device division, acquired earlier this year, showed strong performance with a near doubling of revenue year-over-year, reaching $2.94 million.
Despite volatility, CEO Matt Cole assured investors that Strive maintains a debt-free balance sheet, with no margin requirements and its entire Bitcoin position unencumbered.
Even after a challenging quarter and substantial price volatility, Strive’s leadership emphasized that the company remains debt-free with no margin calls and all Bitcoin assets fully owned, citing preparedness for industry swings.
