Strive Asset Management has surged to become the 9th-largest public corporate holder of Bitcoin, accumulating a total of 14,557 BTC. The Nasdaq-listed firm reached this milestone in just a few months, scaling from zero holdings in late 2025 to a billion-dollar digital asset balance sheet. This rapid ascent was fueled by a recent purchase of 789 BTC, pushing the firm past several veteran mining and software companies in the global treasury rankings.
The company’s strategy involves using equity and preferred stock issuances to fund its aggressive accumulation. In January, Strive utilized a 225 million dollar preferred equity raise to acquire over 333 BTC and settle debts related to its acquisition of medical-tech firm Semler Scientific. Chief Investment Officer Ben Werkman noted that the firm favors long-duration preferred equity, as it better matches the long-duration nature of Bitcoin exposure compared to traditional debt instruments.
Strive now positions itself as a “Bitcoin treasury asset management firm,” measuring shareholder value through a “BTC per share” benchmark. With approximately 143.4 million dollars in cash and equivalents alongside its digital holdings, analysts suggest the firm has the financial runway to cover nearly two decades of interest payments while continuing to expand its stash.
The rise of Strive highlights a growing “race to accumulate” among non-crypto-native corporations. While Strategy and various Bitcoin miners still lead the absolute rankings, the entry of financial firms like Strive into the top tier suggests a broader shift in how public companies view digital assets. Currently, public treasuries collectively hold more than 1.18 million BTC, representing over 9 billion dollars in value, as firms increasingly adopt Bitcoin as a primary reserve asset.
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