Strive Becomes Fifth-Largest Corporate Bitcoin Holder After $143M Purchase

Strive, a publicly traded Bitcoin treasury company, has become the fifth-largest corporate holder of the cryptocurrency after purchasing 1,800 Bitcoin for approximately $143 million last week. The acquisition, disclosed in a filing with the U.S. Securities and Exchange Commission on August 31, brought the company's total holdings to 23,156 BTC, surpassing the crypto exchange Bullish.

The purchase was made between August 24 and August 28 at an average price of $79,431 per Bitcoin, including fees and expenses. CEO Matt Cole confirmed the transaction in a post on X. The move marked a significant acceleration in Strive's accumulation strategy, with the company adding 2,989 BTC to its treasury over a 15-day period across three separate purchases. The latest acquisition alone grew the company's Bitcoin holdings by roughly 8.4% in just five business days.

The filing also detailed the financial mechanics behind the purchase. Strive financed the acquisition through its at-the-market programs for both its common stock (ASST) and preferred stock (SATA). The number of outstanding Class A common shares increased by 3.58 million during the week, while the count of SATA preferred shares rose...