Strive Boosts Bitcoin Holdings with $169 Million Purchase

Strive (ASST) has significantly boosted its Bitcoin holdings with a $169 million acquisition of 2,000 BTC between September 28 and October 2. This marks the company's largest single purchase since June, bringing its total reserves to 29,462 BTC. The average cost per Bitcoin was approximately $84,422, and the transaction was primarily funded through SATA preferred share sales and warrant conversions.

The acquisition propelled Strive's stock price up by roughly 2%, with shares trading around $30.50. At current market rates, the company's Bitcoin reserves are valued at an estimated $2.55 billion. Chief Executive Matt Cole confirmed the company's commitment to expanding its position, noting that the majority of the funding came from equity offerings and warrant conversions.

In the broader Bitcoin treasury landscape, Strive remains in fifth place, trailing MARA by 6,115 BTC. Meanwhile, Metaplanet climbed to second place after adding a net 1,000 BTC during Q3, surpassing Twenty One. Strategy, led by Michael Saylor, continues to dominate with 848,000 BTC in reserves.

Strive also disclosed preliminary Q3 results, revealing an accumulation of 8,137 BTC at an average cost of $78,885 per coin. The company reported $285 million in liquid assets and cash equivalents as of September 30, with a year-to-date Bitcoin yield of 63.2%. ASST shares have surged nearly 140% throughout the third quarter, excluding recent gains.