Corporate asset manager Strive has acquired 469 Bitcoin for approximately $36.6 million, reaching a total treasury holding of 25,000 BTC. According to a filing with the US Securities and Exchange Commission, the purchases occurred between September 8 and September 11 at an average price of $77,954 per coin, inclusive of fees and expenses.
Strive Chief Executive Officer Matt Cole confirmed that the acquisition was financed entirely through proceeds from the issuance of SATA, the company’s variable-rate perpetual preferred stock. The financing pushed SATA’s total outstanding notional value past $1 billion, with preferred shares outstanding expanding by 402,541 to reach roughly 10.4 million shares. As of September 11, Strive maintained $204.2 million in cash and cash equivalents, alongside 505,000 shares of Strategy’s STRC preferred stock valued at approximately $49.8 million.
The company solidified its rank as the fifth-largest publicly traded corporate Bitcoin holder in late August, following an 1,800-BTC acquisition that surpassed cryptocurrency exchange Bullish. Co-founded in 2022 by Vivek Ramaswamy, Strive transitioned into a publicly listed Bitcoin treasury entity in September 2025 following a corporate merger with Asset Entities.
Strive’s Nasdaq-listed shares (ASST) rose over 7% to trade around $29, extending a multi-week rally that has seen its valuation more than double. The stock gain lifted Strive’s market capitalization to $2.5 billion, surpassing Japanese corporate holder Metaplanet ($1.9 billion) despite Metaplanet maintaining a larger total Bitcoin balance.
The share price surge pushed Strive above the $27 exercise price for corporate warrants expiring in mid-October. Full exercise of these warrants by holders would yield over $700 million in fresh capital, expanding the firm’s balance sheet capacity for subsequent Bitcoin accumulation.
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