TL;DR
- Strive will launch a $500M issuance to expand its Bitcoin position: Its portfolio shows a drop of nearly 18% and needs liquidity.
- The company will use an at-the-market program to sell its Series A Perpetual Preferred Stock and fund new BTC purchases and other activities.
- MSCI may reclassify companies with more than 50% of digital assets and trigger passive outflows.
Strive is preparing a $500M issuance to expand its Bitcoin position at a time when its portfolio is showing a decline of nearly 18%.
The company aims to secure immediate liquidity through an at-the-market program that allows gradual sales of its Series A Perpetual Preferred Stock and lets it adjust the pace according to market demand. The firm will use the capital for new BTC purchases, acquisitions of related assets, working capital reinforcement, share buybacks and debt service. It also leaves the door open to integrating businesses or technologies aligned with its strategy.
Strive Needs Liquidity to Finance a Wide Range of Plans
Throughout 2025, Strive built an aggressive Bitcoin-based treasury policy. Public filings show three purchases: 5,816 BTC in September, 72 BTC in October and 1,567 BTC in November. The total stands at 7,525 BTC, placing the company among the largest corporate Bitcoin holders. The average acquisition cost is $113,383 per unit, a level that reflects a long-term commitment rather than a tactical view of price. The current value of the position is around $699.81M, roughly $153M below its original cost.
BTC’s pullback since October has created broad pressure on companies that added cryptocurrencies to their balance sheets. Firms such as Metaplanet, GD Culture Group and Remixpoint are also reporting unrealized losses in their holdings. The market deepened its correction through November and broke below the $100,000 support, a level it has yet to recover. The past 24 hours brought a moderate rebound toward $92,000, though macro pressure and weak momentum remain in place.
MSCI Puts Crypto Treasuries at Risk
The regulatory backdrop opens another front. MSCI is considering reclassifying companies whose treasuries exceed 50% in digital assets and labeling them as funds. That category would limit their presence in indexes and could trigger automatic selling from passive investors. Strive sent a letter to the organization urging it to halt the change, arguing that the current methodology does not penalize oil companies concentrated in reserves, gold-exposed miners or financial institutions dominated by derivatives. The company maintains that introducing a rule aimed specifically at digital assets reflects a bias with no economic basis.
MSCI will announce its decision on January 15, 2026, and it will define the institutional framework for Bitcoin-based treasury models. Strive is anticipating that scenario through a financing program that strengthens its strategy and keeps the option of expanding its exposure active
