Strive Becomes 5th-Largest Corporate Bitcoin Holder After $208M Warrant Exercise

Strive, a publicly traded Bitcoin treasury company, has climbed to the fifth-largest corporate Bitcoin holder after purchasing 3,311 BTC in the week ending October 9, bringing its total holdings to 32,773 BTC. The company disclosed the acquisition in a Tuesday filing with the US Securities and Exchange Commission, revealing it paid an average price of approximately $84,500 per coin. Bitcoin reserves grew 11.2% during the reporting period, outpacing a 9.4% increase in Strive's effective common share count and delivering greater per-share BTC exposure to existing shareholders.

The purchases were funded by $208 million in warrant exercises, according to Strive Chairman and CEO Matt Cole, who noted on X that approximately 15.3 million warrants remained outstanding ahead of their Tuesday expiration. To preserve shareholder value, Strive amended its governing documents to establish a binding $100 minimum issuance price for its SATA preferred shares, which were trading at $99.40. The company's common shares (ASST) held steady at $27.52, while Bitcoin traded near $83,300 at last look on Tuesday.

Strive's aggressive accumulation has drawn public support from Michael Saylor, whose firm Strategy pioneered the corporate Bitcoin treasury model. Saylor wrote on X that Strive is "turning demand for digital equity (ASST) and digital credit (SATA) into demand for Bitcoin," highlighting how its capital-raising structure mirrors Strategy's MSTR common stock and STRC preferred share framework. Strategy, by comparison, added a more modest 250 BTC last week, bringing its industry-leading total to 848,250 BTC. With Strive's rapid pace of treasury expansion through equity financing, the company continues to position itself as a major institutional conduit for Bitcoin adoption.