Strive Climbs to Fifth-Largest Corporate Bitcoin Holder

The acquisition, confirmed by CEO Matt Cole in a filing with the U.S. Securities and Exchange Commission, saw the company pay an average of $79,431 per coin. This latest transaction follows a consistent pattern of rapid growth: just one week prior, Strive added 1,110 BTC to its balance sheet. Across these two reporting periods, the company deployed approximately $224.5 million to expand its holdings.

Strive funds these acquisitions by leveraging its at-the-market programs for both ASST common stock and SATA preferred stock. This strategy involves the gradual issuance of shares to raise capital, a process that has increased the company's outstanding Class A common shares to 83.47 million. While the stock has seen significant momentum—gaining nearly 95% throughout August—the company’s filings warn investors that ongoing share issuance remains a primary risk factor. Despite the heavy spending, Strive’s cash position actually improved to $183.5 million, bolstered by a debt-free balance sheet and a focus on maintaining reserves to support its preferred-stock dividend obligations.