Strategy and Strive Boost Bitcoin Holdings as Corporate Accumulation Continues

Strategy and Strive have joined the growing list of corporations bolstering their Bitcoin holdings, with their latest acquisitions pushing the trend into October. Strategy purchased 334 BTC for $28.7 million, bringing its total to 848,000 BTC accumulated at an average cost of $75,440.70 per coin. Meanwhile, Strive acquired 2,000 BTC for approximately $169 million, increasing its treasury to 29,462 BTC.

Strategy's latest filing highlights a substantial gain of $20.91 billion in Q3, driven by Bitcoin’s rebound. This gain reflects fair-value accounting rather than cash generated from selling Bitcoin. The recovery also led to a $4.12 billion reversal of a deferred tax asset, generating an estimated income tax benefit of the same amount. At the time of writing, Bitcoin trades at $86,124, with Strategy's holdings valued at approximately $73.0 billion.

Beyond Bitcoin purchases, Strategy has been actively managing its capital structure. Between Sept. 28 and Oct. 4, the company repurchased $176.3 million of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). The latest BTC purchase was financed through a combination of selling MSTR shares and using USD cash. Strive, on the other hand, is still in a faster accumulation phase, with its latest purchase representing roughly 6.8% of its total holdings.

The scale of Strategy's existing holdings means that even small price movements in Bitcoin can significantly impact its financial results. With Bitcoin around $86,000, a 1% change in the value of 848,000 BTC represents approximately $729 million, dwarfing the $28.7 million spent on its latest acquisition. This dynamic underscores how Strategy's financial profile has evolved, with Bitcoin's price increasingly dominating short-term value movements.