Strive buys 124 more bitcoin for $10 million, closing in on Metaplanet's holdings
Strive adds 124 bitcoin in latest weekly buy
Bitcoin treasury company Strive, Inc. bought 124 bitcoin for about $10 million between Oct. 24 and Oct. 30, according to a filing with the Securities and Exchange Commission. A bitcoin treasury company is a firm that holds large amounts of bitcoin on its balance sheet as a corporate asset.
The purchase brings Strive's total holdings to 43,124 BTC. It moves the company closer to its stated goal of becoming the second-largest public company holder of bitcoin, behind only Strategy.
Key numbers at a glance
- Strive bought 124 BTC for roughly $10 million between Oct. 24 and Oct. 30.
- Total holdings now stand at 43,124 BTC.
- Strategy remains the largest public holder with 849,327 BTC, followed by Metaplanet with 44,000 BTC, Twenty One with 43,514 BTC, and MARA with 35,577 BTC, per Bitcoin Treasuries data.
- Strive currently ranks fourth among public bitcoin holders.
Purchases slow, but the gap narrows
The latest buy is smaller than Strive's recent activity. The company picked up around $1.25 billion worth of bitcoin in October alone, according to the filing.
Even so, the pace has brought it closer to CEO Matt Cole's stated aim of becoming the second-largest public bitcoin holder by year-end. At current holdings, Strive would need to buy fewer than 100 BTC per week for the rest of 2026 to overtake Metaplanet, assuming the Japanese company makes no further purchases. That assumes Metaplanet stands still, which is not confirmed.
First use of the $1 billion SATS share program
Strive ended Oct. 30 with $490.4 million in cash and cash equivalents, down $14 million from a week earlier, according to the SEC filing.
In a separate post on X, Cole said the company funded most of the latest purchases with existing cash and used its SATS preferred stock at-the-market offering program for the first time. An at-the-market program lets a company sell shares gradually over time rather than all at once.
Strive launched the program on Oct. 26, allowing it to sell up to $1 billion of SATS preferred shares to fund additional bitcoin purchases and other corporate expenses.
What is confirmed
- Strive bought 124 BTC for about $10 million between Oct. 24 and Oct. 30, per an SEC filing.
- Total holdings are 43,124 BTC.
- The company held $490.4 million in cash and equivalents as of Oct. 30, down $14 million from the prior week.
- The SATS preferred stock at-the-market program was launched Oct. 26 and used for the first time in this buy, according to Cole's post on X.
- Strive also holds 505,000 shares of Strategy's STRC preferred stock, valued at about $50.1 million as of Oct. 30, and its SATA preferred shares outstanding remained unchanged at just over 14 million.
What is still unclear
- The estimate that Strive needs fewer than 100 BTC per week to pass Metaplanet assumes Metaplanet makes no further purchases. Metaplanet has not said it will stop buying.
- Whether Strive reaches second place by year-end depends on future purchases by both companies and has not been confirmed.
Why the ranking matters
Strive's climb toward second place among public bitcoin holders is a stated corporate goal under CEO Matt Cole. Its position in the rankings, and its ability to fund further purchases through the $1 billion SATS program, are the main levers it has said it will use to get there. The company's filing also shows how quickly its cash balance is being drawn down as it buys, which is relevant context for anyone tracking how treasury companies fund their purchases.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.