Key Takeaways
- Strategy (MSTR) rose over 7%, while Strive (ASST) jumped more than 13% Wednesday amid bitcoin’s rebound.
- Strategy acquired another 267 BTC for $22.1 million last week, bringing its holdings to 848,517 BTC.
- Strive recently purchased 4,045 BTC, reaching 36,818 BTC, and raised $630 million through a new preferred stock offering.
Bitcoin Bounceback Boosts Big Buyers
Strategy (Nasdaq: MSTR), the largest corporate holder of bitcoin with over $71 billion in holdings, climbed more than 7% to finish at $153.48 on Wednesday, while Strive (Nasdaq: ASST) jumped more than 13% to finish at $30.75, per data from Yahoo Finance.
The gains followed another strong session Tuesday, when Strategy rose nearly 5%, and Strive advanced nearly 6%. Strive also gained 6% Monday, giving the firm three straight days of green so far this week.
The rally came as bitcoin climbed more than 2% to trade around $84,500, providing a boost to companies whose equity valuations are closely tied to the cryptocurrency’s performance. The price of bitcoin rose as high as $84,807 on Wednesday afternoon (E.T.), marking the coin’s highest price since October 7 as it eyed a potential return above the $85,000 mark.
Both companies have recently expanded their bitcoin holdings while pursuing different approaches to raising capital and managing their balance sheets.
Strategy disclosed Monday that it purchased another 267 BTC for approximately $22.1 million between Oct. 12 and Oct. 18, bringing its total holdings to 848,517 BTC. The company paid an average of $82,900 per coin in its latest acquisition, financing the purchase primarily through sales of 140,872 common shares.
Strategy also revealed that it repurchased approximately $193.1 million of its STRC preferred shares and expanded its digital credit securities repurchase authorization from $2 billion to $3 billion. The company reported approximately $5.28 billion in dollar-denominated assets, including reserves intended to support preferred dividends and debt interest payments.
Strive Goes Into Overdrive
Meanwhile, Strive has been pursuing an aggressive bitcoin accumulation strategy of its own, alongside the launch of a new preferred stock designed to generate additional capital.
The Dallas-based company acquired 4,045 BTC between Oct. 12 and Oct. 16, bringing its total holdings to 36,818 BTC, valued at roughly $3.1 billion at recent market prices.
On Tuesday, Strive launched its new Series A Perpetual Preferred Stock, trading under the ticker SATS, after raising $630 million through an upsized offering of 7 million shares priced at $90 each.
The securities carry a 15% annual dividend on their $100 stated value, translating to an effective yield of approximately 16.7% at the offering price. Strive plans to distribute cash dividends every business day beginning Nov. 9, subject to board approval and available funds. The proceeds may support further bitcoin acquisitions, working capital, income-producing investments, and share repurchases.
The rallies highlight renewed investor interest in publicly traded bitcoin treasury companies, which offer stock market exposure to the cryptocurrency while introducing additional risks associated with corporate financing, dividend obligations, and potential shareholder dilution.
For both Strategy and Strive, rising bitcoin prices can boost the market value of their holdings and improve the appeal of their fundraising strategies. But the same mechanisms can amplify losses when the cryptocurrency declines, leaving shareholders exposed to volatility beyond bitcoin’s price movements alone.
Strategy felt that pain acutely this summer when its shares fell to a price of about $82 as its treasury holdings sat underwater and investors’ concerns over constant accumulation grew even louder. But the firm has since clawed back all of its losses so far this year, showing a roughly 1% gain in price since the start of 2026.
