TL;DR
- Strive acquired 6,182 BTC for $511 million, bringing its total holdings to 43,000 BTC. The company ranks fourth among corporate Bitcoin treasury holders.
- The firm is closing in on Twenty One, which holds 43,514 BTC, and Metaplanet, with 44,000 BTC. Its goal is to finish 2026 as the second-largest corporate Bitcoin holder.
- Strive established a program to sell up to $1 billion in SATS preferred stock. The proceeds may be used to purchase additional Bitcoin.
Strive purchased 6,182 BTC for approximately $511 million between October 17 and 23, bringing its total holdings to 43,000 BTC, according to a filing with the U.S. Securities and Exchange Commission (SEC).
The company currently ranks fourth among publicly traded companies with the largest Bitcoin reserves. Its holdings are approaching those of Twenty One, which owns 43,514 BTC, and Metaplanet, with 44,000 BTC. Strategy remains well ahead of its competitors, holding 848,517 BTC.
Strive CEO Matt Cole had previously set a goal of finishing 2026 in second place in that ranking. To surpass Metaplanet’s current holdings, the company would need to acquire just over 1,000 BTC, assuming Metaplanet does not increase its reserves.
Strive Prepares Up to $1 Billion Stock Offering Program
The company also established a program to sell up to $1 billion in SATS preferred stock, allowing it to issue shares gradually on the market.
According to documents filed with the SEC, the proceeds may be used to purchase additional Bitcoin, fund working capital, and make other investments. The program does not mean the company has already issued all the shares authorized under the offering.
Strive ended October 23 with $504.4 million in cash and cash equivalents, compared with $317.5 million a week earlier. During that period, the number of Class A common shares outstanding increased by approximately 3.3 million, reaching 118.1 million.
Preferred Stock to Finance Bitcoin Purchases
On October 20, Strive completed an offering of 7 million SATS preferred shares, raising approximately $630 million before expenses.
These shares pay a 15% annual dividend. The company said it had set aside sufficient funds to cover the first 18 months of dividend payments to shareholders.
Strive also holds a substantial investment in preferred shares issued by Strategy. As of October 23, it owned 505,000 STRC shares, valued at $50.2 million, compared with $49.3 million the previous week.
Meanwhile, the number of SATA preferred shares outstanding remained largely unchanged, at approximately 14 million shares.
