Strive purchased 469 Bitcoin last week, spending $36.6 million at an average of $77,954 per coin. The transactions, executed between Sept. 8 and Sept. 11, bring the Nasdaq-listed asset manager's total holdings to exactly 25,000 BTC—a $1.95 billion treasury at current prices.
The entire purchase was funded by Strive's Variable Rate Series A Perpetual Preferred Stock, known as SATA. CEO Matt Cole confirmed: "100 percent of the capital raised came from SATA, which now has over $1B notional outstanding." SATA shares outstanding increased by 402,541 during the period, with the preferred stock's $100-stated notional value reaching roughly $1.04 billion.
Notably, Strive's cash reserves actually climbed from $202.6 million to $204.2 million despite the Bitcoin buy. Class A common stock increased by only 34,206 shares, and the company maintained its 505,000-share stake in Strategy's preferred product, STRC.
Cole highlighted Strive's "amplification ratio," which rose to 53.5 percent—a measure of notional preferred equity and debt against the company's Bitcoin net asset value. In practical terms, Strive now carries $53.50 in preferred obligations for every $100 of Bitcoin on its balance sheet, reflecting the firm's leverage strategy for accumulation.
The pace slowed compared to the prior week. Between Aug. 31 and Sept. 4, Strive acquired 1,375 BTC for approximately $109 million at an average of $79,281 per coin—nearly three times the latest haul. That purchase was split 70/30 between SATA and common stock, contrasting with the all-preferred funding this week.
Strive currently ranks fifth among public companies by Bitcoin holdings. It trails Strategy, Twenty One Capital, Metaplanet, and MARA Holdings. Twenty One Capital, a Tether-backed firm, holds 43,514 BTC—18,515 coins ahead of Strive. To match Twenty One Capital's holdings before year's end, Strive would need to average 1,234 BTC in weekly purchases over the 15 remaining weeks of 2026.
