Strive Buys Another 1,107 Bitcoin, Pushing Its Stack to $2.3 Billion

Strive continues to buy bitcoin almost every week. The Nasdaq-listed company acquired an additional 1,107 BTC for 94.5 million dollars between September 21 and 25. Average price: 85,396 dollars per bitcoin. Its reserve now reaches 27,462 BTC, or about 2.3 billion dollars at current prices.

Strive adds another 1,107 Bitcoin to its reserve

The purchase comes just a few weeks after another acquisition of 1,375 BTC for about 109 million dollars. At the time, Strive had just raised its reserve to 24,531 bitcoins. It now holds 27,462. The latest batch cost 94.5 million dollars, with an average price of 85,396 dollars per BTC. Strive held 26,355 bitcoins before the operation. The additional 1,107 units appear in a new document submitted to the SEC.

The price paid is higher than the average cost of the entire reserve. This now averages around 80,862 dollars per bitcoin. With BTC near 83,300 dollars at the time of the announcement, the portfolio remained slightly above its average purchase price.

Not a huge margin. However, Strive does not seem to be slowing down its purchases. The company has accumulated several thousand bitcoins since August and continues to use financial markets to feed its treasury.

27,462 BTC and already 2.3 billion dollars

Strive already held a significant place among companies that have adopted a Bitcoin strategy. At the end of August, the company had crossed 21,000 BTC after purchasing 1,110 bitcoins. Just over a month later, the count reads 27,462 BTC.

More than 6,000 bitcoins have therefore joined the balance sheet in the meantime. At a price of about 83,300 dollars observed on Monday, this reserve represents nearly 2.3 billion dollars. Strive remains fifth among listed companies holding the largest Bitcoin treasuries, behind Strategy, Twenty One Capital, Metaplanet, and MARA Holdings.

The company also keeps cash on hand. Its cash and cash equivalents increased from 229.6 to 248.8 million dollars despite the new BTC purchases. Strive also holds 505,000 STRC shares, the variable rate preferred stock launched by Strategy.

The balance sheet is therefore beginning to take a particular shape: lots of bitcoin, cash, and additional exposure to Strategy. The ASST stock partly benefits from this acceleration. It shows a gain of over 32% in one month. In the short term, the movement is less favorable, with about a 5% drop over five sessions.

SATA provides most of the fuel

One fairly concrete question remains: where does the money come from? Strive largely relies on SATA, its perpetual preferred stock listed on Nasdaq. Matt Cole, CEO of the company, indicates that 85% of the capital raised now comes from this vehicle.

Warrants exercises have also provided an additional 12.4 million dollars. The mechanism resembles that developed over several years by Strategy: raising capital on the markets then converting a significant portion of those funds into bitcoin. Strategy continues at exactly the same pace. This week, the company bought an additional 1,665 BTC and exceeded 4% of Bitcoin’s maximum supply.

Strive plays in yet another category. Strategy holds more than 847,000 BTC. Strive owns 27,462. But its growth is fast. At the end of August, it had just passed 21,000 BTC. One month later, the reserve is already approaching 30,000 units. The latest purchase adds 94.5 million dollars to the tab. And for now, Strive keeps stacking.