October 06, 2026 – The firm bought 2,000 BTC for about $169 million, its largest weekly haul since June. Preferred stock sales and warrant cash funded the push.
In Summary
Strive bought 2,000 BTC between Sept. 28 and Oct. 2 at about $84,422 each, including fees.
Holdings reached 29,462 BTC, about 6,115 short of the 35,577 MARA reported for June 30.
Warrant exercises at $27 a share brought in roughly $56.7 million during the week.
Strive’s average cost of $90,170 per coin still sits above Bitcoin’s current price.
The latest Strive bitcoin purchase was its largest in four months. Last week, the bitcoin treasury company bought 2,000 BTC, lifting its holdings to 29,462 coins.
According to a Form 8-K filed Monday, Strive paid about $84,422 per coin, including fees and expenses. That works out to roughly $168.8 million.
Biggest Strive bitcoin purchase since June
The buy tops every weekly purchase since early June. At that time, Strive reported buying 2,500 BTC between May 23 and June 1 at about $74,092 each.
Buying then slowed sharply. In July, weekly purchases stayed below 80 coins. Since mid-August, however, Strive has topped 1,000 coins in six of seven weeks. The prior week alone added 1,107 BTC at about $85,396, so Strive bought 3,107 coins in two weeks.
Over the third quarter, Strive added 8,137 BTC at an average cost of $78,885. As a result, holdings have nearly quadrupled from 7,627 coins at the end of 2025.
Most of that buying came as prices recovered. Bitcoin closed near $58,500 on June 30 and has since climbed about 46%. Even now, the filing says the company believes Bitcoin is “attractively priced at current levels.”
How Strive paid for the coins
Funding for the Strive bitcoin purchase came from two main sources. First, its outstanding SATA preferred shares rose by 1,304,902 during the week. At a $100 stated amount per share, that adds about $130.5 million of preferred.
Second, holders exercised traditional warrants covering 2,100,100 shares. Strive’s quarterly report sets the exercise price at $27 on a split-adjusted basis. Those exercises therefore raised about $56.7 million.
Common shares grew as well. Class A shares rose by 3,255,119 during the week to about 91.7 million, partly because of those warrant exercises.
Meanwhile, cash rose by $35.9 million to $284.7 million. The company also says it intends to stay debt-free, which leaves SATA as its only senior security.
Closing in on MARA
Last week’s buy narrows the gap with MARA Holdings. MARA held 35,577 BTC on June 30, according to its latest 10-Q. That leaves Strive about 6,115 coins behind.
However, the two companies are heading in opposite directions. MARA sold about 23,093 BTC in the first half of 2026 to fund operations and growth. Strive, by contrast, has bought every week since early July. MARA also pledged 18,750 coins as collateral for new credit facilities in early August, its 10-Q shows.
Because MARA’s latest filed total dates to June 30, the real gap may differ. Meanwhile, Strategy remains the largest corporate holder with 848,000 BTC.
Still underwater on cost
There is a catch. Strive’s average cost stood at $90,170 per bitcoin on Sept. 30, the filing shows. Bitcoin traded near $85,500 on Monday, based on Kraken prices, about 5% below that level.
The gap reflects coins bought at higher prices in 2025. Strive’s average cost was $113,153 at the end of 2025. Since then, cheaper purchases have pulled it down each quarter. Each Strive bitcoin purchase below $90,170 lowers that average further. At Monday’s price, its 29,462 coins are worth roughly $2.52 billion.
The SATA dividend math
SATA sits at the center of the model. The filing puts Strive’s annualized payment obligation at $168.2 million. That implies a rate of about 13% on SATA’s $1.29 billion stated amount.
Strive’s $284.7 million cash pile covers about 1.7 years of those payments. In addition, the company holds 505,000 shares of Strategy’s STRC preferred stock, worth $50.2 million.
The pace of each Strive bitcoin purchase therefore depends on SATA demand. SATA traded at $100, its stated amount, on Monday, Nasdaq data show, which supports new issuance near face value.
The 60% amplification goal
Strive also tracks an amplification ratio, which stood at 55.3% at quarter end. That figure equals SATA’s $1.29 billion stated amount divided by the $2.34 billion value of its bitcoin.
Management wants the ratio above 60% while bitcoin trades below $100,000. Getting there would take more SATA issuance, a lower bitcoin price, or both. To support SATA, Strive has also set up a repurchase facility of up to $500 million.
Its BTC yield, which tracks bitcoin per share, reached 63.2% year to date and 99.4% over 12 months. The filing also shows 27,801 satoshis of bitcoin per assumed diluted share at quarter end. Investors have noticed. ASST shares closed Friday at $30.03, up about 175% from their June 30 close of $10.91.
