Strive Buys $280 Million in Bitcoin in Largest Purchase Since January

Strive adds 3,311 BTC at roughly $84,500 per coin

Nasdaq-listed asset manager Strive (ticker: ASST) bought 3,311 Bitcoin between October 5 and October 9, spending approximately $280 million at an average price of about $84,500 per coin including fees. The purchase is the company's largest single Bitcoin buy since January, and it lifts Strive's total holdings to 32,773 BTC, worth roughly $2.73 billion at recent prices.

The company disclosed the purchase in a filing on Monday. A week earlier, Strive held 29,462 BTC.

Key numbers from the purchase

• 3,311 BTC acquired between Oct. 5 and Oct. 9
• Average purchase price: ~$84,500 per coin, including fees
• Total value: ~$280 million
• Total holdings after the buy: 32,773 BTC (~$2.73 billion)
• Bitcoin at time of filing: $83,079, down 2.84% on the day

What the filing says

Strive stated in its filing that it acquired the 3,311 BTC during the October 5-9 window. The company's total Bitcoin position grew from 29,462 to 32,773 coins with this purchase. Strive is led by CEO Matthew Cole and recently completed a merger with Semler Scientific to strengthen its balance sheet.

Beyond Bitcoin, the company holds about 505,000 shares of Strategy's STRC preferred stock valued near $50 million, plus roughly $310 million in cash.

Context for the buying run

This purchase caps a stretch of aggressive accumulation by Strive. Earlier in October, the company added about $169 million in Bitcoin in what was then its largest buy in four months. Before that, Strive pushed its stack past 27,000 BTC with a $94.5 million purchase in late September.

The timing is notable because Strive bought as Bitcoin slid through a rough week, picking up coins at an average price well below the token's recent highs near $87,000. Bitcoin traded as low as $81,018 in the 24 hours around the filing.

Other treasury activity in the sector

Strive is part of a broader wave of public companies adopting Bitcoin treasury strategies, which involve raising capital to buy and hold crypto assets and tying a company's stock price to the asset's performance. This model was pioneered by Michael Saylor's Strategy (formerly MicroStrategy).

Strategy itself recently added $21.5 million in Bitcoin while buying back preferred stock. Solana treasury firm DeFi Development Corp. continued accumulating SOL tokens. Bitmine, which stacks Ethereum, kept buying as well, though chairman Tom Lee said that company is nearly finished and will halt purchases once it holds 5% of the token's total supply.

What is confirmed

Strive's filing confirms the purchase of 3,311 BTC between October 5 and October 9, at an average price of about $84,500 per coin. The company's total Bitcoin holdings are now 32,773 BTC. The prior purchases of $169 million in early October and $94.5 million in late September are also documented.

Why this matters

Strive is one of several public companies following a strategy first popularized by Strategy: raise capital, buy Bitcoin, and grow a company's holdings over time. The approach ties a stock's performance to Bitcoin's price, which means the company's fortunes rise and fall with the asset. Buying during a dip can pay off if Bitcoin rebounds, but the same exposure cuts the other way, and treasury firms have faced scrutiny over how much their stock premiums depend on continued accumulation.

Sources

• Decrypt