Strive adds 1,223 bitcoin for about $100 million, lifting holdings to 36,818 BTC

Strive buys another 1,223 bitcoin, taking its treasury to 36,818 BTC

Strive, a public company that keeps bitcoin on its balance sheet, bought 1,223 bitcoin between Oct. 14 and Oct. 16. The purchase lifted its total holdings to 36,818 BTC, according to an 8-K filing with the U.S. Securities and Exchange Commission (SEC) on Monday. An 8-K is a report public companies file about major events.

The Block reported the purchase was worth about $100 million, based on an average price of roughly $81,734 per bitcoin.

The new coins add to the 2,822 BTC Strive bought for $235 million on the previous Monday and Tuesday. That makes 4,045 BTC acquired in total last week. The company remains the fourth-largest publicly traded corporate holder of bitcoin.

Key numbers from the filing and the report

• 1,223 BTC bought between Oct. 14 and Oct. 16, at an average of about $81,734 per coin.
• 36,818 BTC in total holdings after the purchase.
• 2,822 BTC bought for $235 million earlier in the same week, for 4,045 BTC across the week.
• $317.5 million in cash and cash equivalents as of Oct. 16, up from $310.3 million a week earlier.
• About 13.7 million new Class A shares issued, bringing the total outstanding to 114.8 million.

Where Strive ranks among public bitcoin holders

Bitcoin Treasuries data cited by The Block puts Strategy first with 848,517 BTC, followed by Metaplanet with 44,000 BTC and Twenty One with 43,514 BTC. Strive sits fourth at 36,818 BTC, ahead of MARA with 35,577 BTC.

The Block reported that Strive's recent buying has often run ahead of Strategy's pace. It also reported that Strive is moving toward CEO Matt Cole's stated goal of ending the year as the second-largest public bitcoin holder. According to the report, the company would need to buy an average of roughly 700 BTC per week to pass Metaplanet's current holdings.

Warrants closed out and Strategy preferred shares still on the books

The filing showed that all of Strive's traditional warrants have now been exercised or have expired. Exercises earlier in the week brought in about $369.2 million, and the remaining warrants expired on Oct. 13.

Strive still holds 505,000 shares of Strategy's STRC preferred stock, valued at $49.3 million as of Oct. 16. Its own SATA preferred shares outstanding stayed at about 14 million.

A $630 million preferred share sale is set to settle Oct. 20

Separately, Strive priced an offering of 7 million SATS preferred shares on Oct. 15. The company expects to raise about $630 million before expenses. The offering is scheduled to settle on Oct. 20, subject to customary closing conditions.

What is confirmed

Strive's own SEC filing confirms the 1,223 BTC purchase, the timing between Oct. 14 and Oct. 16, the 36,818 BTC total, the cash and share figures, the warrant exercises and expirations, the Strategy preferred stock holding, and the planned SATS offering and its expected settlement date. The rankings against other public holders come from Bitcoin Treasuries data cited in the report, not from Strive.

What is still unclear

Whether Strive reaches second place among public bitcoin holders depends on purchases it has not yet made, so the 700 BTC per week figure is an estimate of what would be needed, not a forecast of what will happen. The report also gives the deal's size as about $100 million while the filing-based detail it cites is an average price per coin, rather than a stated total amount paid.

Why the purchase matters

Strive is one of a small group of public companies that hold bitcoin as a treasury asset, which ties part of their finances to the price of the cryptocurrency. The size of Strive's holdings places it among the largest of those companies and close behind the third-largest, Twenty One.

Sources

• The Block