Strive Bolsters Bitcoin Holdings Amid Push for Second-Largest Treasury
Strive has continued to bolster its Bitcoin holdings by acquiring an additional 1,375 BTC for approximately $109 million last week. This purchase brings Strive's total BTC holdings to 24,531 as it competes with other public Bitcoin treasuries. The company bought the BTC at an average price of $79,281 per coin between August 31st and September 4th.
Strive CEO Matt Cole stated that 70% of the capital raised during this week came from sales of its SATA perpetual preferred stock, which reached nearly $999 million in notional volume outstanding. The company's cash and equivalents jumped to $202.6 million from $183.5 million, while its position in Strategy's STRC preferred stock remained unchanged.
The latest acquisition keeps Strive on track to overtake Twenty One Capital as the second-largest Bitcoin treasury by the end of 2026. With approximately 16 weeks remaining in the year, Strive would need to acquire around 1,200 BTC per week to surpass Twenty One, assuming it does not add to its existing holdings.