Strive, a top-five Bitcoin treasury company and asset manager, purchased 469 Bitcoin for about $36.6 million last week, bringing its holdings to 25,000 BTC.
According to a Monday filing with the US Securities and Exchange Commission, Strive acquired the Bitcoin between Sept. 8 and Sept. 11 at an average price of $77,954 per BTC, including fees and expenses.
The biggest crypto by market cap was last trading at $78,823, according to Coingecko data.
Strive CEO Matt Cole said the purchase was funded entirely through proceeds from sales of SATA, the company’s perpetual preferred stock, which has now surpassed $1 billion in notional value outstanding. The filing shows SATA shares outstanding increased by 402,541 over the same period to about 10.4 million shares.
As of Sept. 11, Strive also held $204.2 million in cash and cash equivalents and 505,000 shares of Strategy’s STRC preferred stock, valued at about $49.8 million.
Strive became the fifth-largest publicly traded corporate Bitcoin holder in late August, when a 1,800-BTC purchase pushed it past crypto exchange Bullish. The company was co-founded in 2022 by now-Ohio Republican gubernatorial candidate Vivek Ramaswamy and became a publicly traded Bitcoin treasury company in September 2025 following its merger with Asset Entities.
Related: Bitcoin rally sends crypto stocks soaring as miners, treasury companies jump
Strive valuation climbs alongside Bitcoin accumulation
Strive’s Nasdaq-traded shares gained more than 7% on Monday to around $29, extending a rally that has seen the stock price more than double over the past month, according to Yahoo Finance data.
The rally had already pushed Strive’s market capitalization above that of Metaplanet last week, despite the Japanese Bitcoin treasury company holding substantially more Bitcoin. As of Monday, Strive had a market capitalization of about $2.5 billion, compared with $1.9 billion for Metaplanet.
Top 10 Bitcoin treasury companies. Source: BitcoinTreasuries.NET
Strive’s rally has also pushed its shares above the $27 exercise price for warrants due to expire in mid-October. If warrant holders exercise them, they would buy Strive shares at $27 apiece, potentially providing the company with more than $700 million in new capital, according to BitcoinTreasuries.net.
Cole said earlier this month that it was “not out of the realm of possibility” for Strive to become the second-largest publicly traded corporate Bitcoin holder by year-end, though he said that was not his base case.
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