Strive buys $143M in Bitcoin, becomes fifth-largest holder

Strive has purchased 1,800 Bitcoin for about $143 million, raising its treasury to 23,156 BTC and moving past Bullish into fifth place among public corporate holders.
Summary

• Strive paid an average of $79,431 per Bitcoin between Aug. 24 and Aug. 28.
• The company's Bitcoin treasury increased from 21,356 BTC to 23,156 BTC.
• ASST and SATA issuance continued as Strive financed purchases through its at-the-market programs.
• ASST gained more than 5% on Monday after nearly doubling during August.

Strive Bitcoin holdings reach 23,156 BTC

The U.S. Securities and Exchange Commission Form 8-K filing, submitted on Aug. 31, showed that Strive acquired 1,800 BTC between Aug. 24 and Aug. 28 at an average price of $79,431 per coin, including fees and expenses.

At the reported average price, the transaction cost approximately $143 million. Strive ended the period with 23,156 BTC, up from 21,356 BTC one week earlier.

BitcoinTreasuries.net data placed the Dallas-based company ahead of crypto exchange Bullish, which holds 22,000 BTC. The new balance made Strive the fifth-largest publicly traded corporate Bitcoin holder, behind Strategy, Twenty One Capital, Metaplanet, and MARA Holdings.

At a Bitcoin price of roughly $76,400, Strive's holdings were worth about $1.77 billion. Market values can change with the price of BTC, while the filing did not disclose the company's combined acquisition cost for its full treasury.

Chief executive Matt Cole confirmed the purchase in an Aug. 31 post on X.

"Strive acquired an additional 1800 BTC for $143M at an average cost of $79431 per bitcoin, bringing total holdings to ₿23156," Cole wrote.

The acquisition followed another filing one week earlier in which Strive disclosed a purchase of 1,110 BTC for $81.5 million. As previously reported by crypto.news, the company paid an average of $73,409 per coin between Aug. 17 and Aug. 21, lifting its balance from 20,246 BTC to 21,356 BTC.

Across the two reporting periods, Strive acquired 2,910 BTC for approximately $224.5 million. Its average purchase price rose during the second week as Bitcoin moved through the upper-$70,000 range.

Share sales financed the Bitcoin purchase

Strive has used two Nasdaq-listed securities to raise money for its Bitcoin strategy: ASST common stock and SATA preferred stock. Both operate through at-the-market programs, which allow appointed sales agents to issue shares gradually instead of completing one large underwritten offering.

The latest filing showed that Strive's outstanding Class A common shares increased by 3.58 million during the week, rising from 79.89 million to 83.47 million. Its Class B share count remained unchanged at 9.79 million.

Effective common shares outstanding consequently reached 93.26 million, while the assumed fully diluted count increased by 3.57 million to 96.52 million. The latter figure includes options and unvested employee awards but excludes 26.6 million shares tied to traditional warrants.

SATA issuance also continued, with the number of preferred shares climbing by 803,099 to 9.07 million. The security carries a $100 liquidation preference, placing its implied aggregate liquidation value at about $907.4 million.

Although Strive did not divide the purchase funding between the ASST and SATA programs, the simultaneous increase in both share counts showed that the company continued using common and preferred equity to support its treasury activity. Its filing also identified dilution from new ASST and SATA issuance as a risk for investors.

In June, Strive disclosed plans to add $2.1 billion of capacity to each program, creating up to $4.2 billion in possible new fundraising. The fundraising expansion gave the company more room to issue securities when market demand and pricing allowed.

For U.S. investors, ASST and SATA offer different exposure to Strive's Bitcoin balance sheet. Common shareholders own the remaining equity after senior claims and can experience dilution as Strive sells more shares, while SATA holders have priority for declared dividends but do not own a direct claim on a fixed amount of Bitcoin.

SATA is a perpetual preferred security without a scheduled maturity date. Strive has maintained a 13% annualized dividend rate and began paying declared cash dividends every business day in June.

Strive's cash position rises despite $143M purchase

Alongside its Bitcoin acquisition, Strive increased cash and cash equivalents by $11.6 million, from $171.9 million on Aug. 21 to $183.5 million on Aug. 28.

The company also continued holding 505,000 shares of Strategy's STRC preferred stock. Although the number of shares did not change during the week, their reported fair value rose by $581,000 to $49.15 million.

Cash and STRC together had a reported value of approximately $232.65 million at the end of the period. Strive has used both assets as part of the reserves supporting its preferred-stock obligations.

Earlier in August, the company reported that it had retired all outstanding short- and long-term debt. Its second-quarter results showed a GAAP net loss of $257.6 million, including $234 million linked to declines in the fair value of Bitcoin and STRC during the quarter.

Preferred dividends also affect the amount available to common shareholders. Strive recorded $26.2 million in SATA dividends within its adjusted second-quarter loss attributable to common stockholders.

The company reported 6,236 BTC of purchases during the second quarter and 12,237 BTC during the first six months of 2026. An additional 303 BTC acquired through Aug. 7 brought the treasury to 20,167 BTC before several purchases later in the month.

Strive then bought 79 BTC for about $5 million between Aug. 10 and Aug. 14, followed by 1,110 BTC the next week and 1,800 BTC during the latest reporting period. The three transactions added 2,989 BTC in 15 days.

Back in May, a 1,109 BTC purchase had raised Strive's holdings to 16,500 BTC and pushed the company ahead of Coinbase and Riot Platforms in the public-company ranking at the time.

ASST stock extends its August rally

ASST shares rose more than 5% during Monday trading after closing at $21.74 on Aug. 28. Market data showed the stock opened at $22.54 and traded between $21.95 and $23.46 during the session.

At approximately $23.16, ASST was up 6.5% on the day and had gained about 95% during August. Trading volume exceeded 5.2 million shares during the session, compared with an average near 5.18 million.

The stock's rise followed a sharp increase in Strive's Bitcoin balance and continued issuance under its common-stock program. ASST shareholders, however, remained exposed to Bitcoin price changes, preferred dividend costs, and further share issuance listed in the company's SEC disclosures.

Bitcoin traded near $78,000 during the same period after moving between approximately $77,161 and $79,346 over 24 hours. The cryptocurrency remained below Strive's latest average purchase price of $79,431 but above the $73,409 average paid for the company's preceding 1,110-BTC acquisition.