Strive buys 2,000 bitcoin for about $169 million, narrowing gap with MARA

Strive adds 2,000 bitcoin in its biggest buy since June

Strive, a company that holds bitcoin in its treasury, bought 2,000 BTC for roughly $169 million. The purchase was made between Sept. 28 and Oct. 2 at an average price of about $84,422, the company said in a regulatory filing.

After the buy, Strive holds 29,462 BTC worth about $2.55 billion. That is the company's largest purchase since it bought 2,500 BTC on June 2.

The key numbers

• 2,000 BTC purchased for roughly $169 million, at an average of about $84,422 each
• 29,462 BTC in total, worth about $2.55 billion
• 6,115 BTC behind MARA, which holds 35,577 BTC
• 63.2% year-to-date bitcoin yield, a measure of how the holding performed against bitcoin itself
• An amplification ratio of 55.3%, which compares the value of the company's preferred shares and debt with the value of its bitcoin

What the SEC filing says

The figures come from a Form 8-K that Strive filed with the U.S. Securities and Exchange Commission on Monday. A Form 8-K is the standard form companies use to report major events to regulators.

The filing also included preliminary third-quarter results. Strive said it bought 8,137 BTC during the quarter at an average price of $78,885, and that it held nearly $285 million in cash and cash equivalents as of Sept. 30.

How Strive paid for the bitcoin

Strive funded most of the recent purchases by selling its SATA preferred shares, which accounted for 61.5% of the money raised. Warrant exercises added $56.7 million, CEO Matt Cole said. A preferred share is a type of stock that usually pays dividends and ranks ahead of common shares.

Strive also said it wants to raise its amplification ratio above 60% while bitcoin stays under $100,000. That target is a company aim, not a commitment or forecast.

Metaplanet takes the number-two spot

Strive's goal of becoming the world's second-largest publicly traded bitcoin treasury got harder this week. Japan's Metaplanet finished the third quarter with 44,000 BTC after selling 10,000 BTC and buying back 11,000 BTC, which the company said was done to show liquidity.

That net gain of 1,000 BTC moved Metaplanet ahead of Twenty One, which holds 43,514 BTC. Strive is now 14,538 BTC behind Metaplanet.

Strategy, the company led by Michael Saylor, remains far ahead. It added another 334 BTC for $28.7 million last week, taking its holdings to 848,000 BTC.

What is confirmed and what is not

Confirmed by the company's regulatory filing: the size, price, cost and timing of the 2,000 BTC purchase, the total holding of 29,462 BTC, the third-quarter purchase figures and the reported cash position.

Not confirmed by any source: whether Strive will reach 44,000 BTC by the end of the year. The Block calculated that, with roughly 12 full weeks left, Strive would need to buy about 1,212 BTC per week on average, and only if Metaplanet made no further purchases. That is a calculation, not a plan the company has announced.

Where the stock traded

Bitcoin was around $86,000 on Monday. Strive's ASST shares were up about 1.6% to $30.50 in the first hour of trading, while its SATA preferred shares stayed near their intended value of $100.

Sources

• The Block
• Strive Form 8-K filed with the SEC

Read also: Strive Adds $169 Million in Bitcoin, Its Biggest Buy in Four Months

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