Strive Buys 3,311 Bitcoin in One Week, Holdings Top 32,000

Strive acquired 3,311 Bitcoin (BTC) during the week ended Oct. 9, raising its holdings to 32,773 BTC and making it the fifth-largest Bitcoin holder among U.S. public companies.

The Nasdaq-listed company spent about $280 million at an average price of roughly $84,500 per Bitcoin. Its holdings increased 11.2% from 29,462 BTC.

Strive co-founder and CEO Matt Cole said investors exercised about $208 million in warrants to provide funding for the purchases. Roughly 15.3 million warrants remained outstanding ahead of their 5 p.m. ET (21:00 UTC) expiration Tuesday.

Michael Saylor, co-founder of Strategy, described the transaction as a link between Strive’s securities and Bitcoin demand. “Strive is turning demand for digital equity (ASST) and digital credit (SATA) into demand for Bitcoin,” Saylor said.

Strive also amended its governing documents to set a $100 minimum issuance price for its SATA preferred shares, creating a stated floor for future issuance. Strategy remained the largest corporate Bitcoin holder, with more than 848,000 BTC, while Strive’s latest purchase accelerated the competition among public companies building Bitcoin treasuries.