Strive Expands Bitcoin Holdings with 2,000 BTC Purchase and Stock Buyback Plan

Strive, a Bitcoin treasury company based in Dallas, has expanded its holdings by acquiring 2,000 BTC in the past week, marking its largest weekly purchase to date. The company disclosed in a Form 8-K filing that it paid an average of $84,422 per bitcoin, including fees, for purchases made between September 28 and October 2. This brings Strive’s total holdings to 29,462 BTC, up from 27,462 BTC the previous week.

CEO Matt Cole announced the acquisition on X, noting that 61.5% of the capital raised by Strive came from its SATA preferred stock. The filing also revealed that warrant exercises brought in $56.7 million. Strive’s prior weekly purchases ranged from 469 BTC to 1,375 BTC, making the recent 2,000 BTC buy a significant increase.

In addition to the Bitcoin purchase, Strive has implemented a repurchase facility for up to $500 million of its SATA preferred stock. The company views Bitcoin as "attractively priced at current levels" and aims to maintain an amplification ratio above 60% as long as Bitcoin stays under $100,000. The ratio stood at 55.3% as of September 30, calculated by dividing SATA’s $1.29 billion stated amount by the $2.34 billion value of its Bitcoin holdings.

During the third quarter, Strive added 8,137 BTC at an average price of $78,885. As of September 30, the company held 28,000 BTC bought at an average of $90,170. Its total treasury, including $284.7 million in cash and $50.2 million of Strategy’s STRC, amounted to about $2.68 billion, with no debt. Strive reported a quarter-to-date BTC Yield of 18.5%, though these figures are preliminary and unaudited.