Strive buys $335M in Bitcoin, becomes 4th-largest corporate BTC holder

Corporate Bitcoin treasury company Strive has purchased 1,223 BTC for approximately $335 million, lifting its total reserves to 36,818 BTC and positioning it as the fourth-largest publicly traded corporate holder of the asset, ahead of MARA Holdings.

According to a Monday filing with the US Securities and Exchange Commission, Strive acquired the Bitcoin between Oct. 12 and 16 at an average price of $82,803 per coin, including fees and expenses. The company's holdings are now valued at roughly $3 billion, based on data from BitcoinTreasuries.net. MARA had recently been observed trimming its reserves, with Arkham-tracked wallets linked to the miner depositing about $82 million worth of Bitcoin into Binance and Gate in recent days.

The acquisition was funded in part through approximately $369 million in proceeds from warrant exercises on Oct. 12 and 13, which resulted in the issuance of 13.7 million common shares. Strive's effective share count rose 12.4%, closely matching the 12.3% increase in Bitcoin holdings and keeping BTC per share largely unchanged. The latest buy follows a 3,311 BTC purchase the previous week, when holdings grew 11.2%, outpacing a 9.4% increase in effective common share count.

Strive also announced the launch of SATS last week, a new preferred stock issue carrying a fixed 15% annual dividend, payable each business day beginning Nov. 9, subject to board approval. The company priced a $630 million offering of the new preferred shares, with proceeds potentially funding additional Bitcoin purchases. Shares of Strive (ASST) were up roughly 7.7% at $25.95 in late-morning trading Monday, according to Yahoo Finance.