Strive Buys 3,311 Bitcoin for $280 Million, Narrowing Gap With MARA
Strive adds 3,311 bitcoin at roughly $84,500 per coin
Strive, Inc., the Vivek Ramaswamy-founded public company, bought 3,311 bitcoin between October 5 and October 9, lifting its total holdings to 32,773 BTC as of October 9. The company disclosed the purchase in an 8-K filing with the SEC on Tuesday. At an average cost of about $84,500 per bitcoin including fees, the acquisition totaled roughly $280 million. It is Strive's largest single increase in bitcoin since January, when the company obtained about 5,048 BTC through an all-stock merger with Semler Scientific.
Key numbers from the filing
- Average purchase price: approximately $84,500 per bitcoin, including fees and expenses
- Total holdings after the purchase: 32,773 BTC
- Cash and cash equivalents rose to $310.3 million from $284.7 million over the same week
- Class A shares outstanding increased by about 9.5 million; SATA preferred shares rose by 532,094; traditional warrants fell by roughly 8 million
How Strive compares to other public holders
According to Bitcoin Treasuries data, the five largest public company holders of bitcoin as of the filing are:
- Strategy: 848,250 BTC
- Metaplanet: 44,000 BTC
- Twenty One, backed by stablecoin issuer Tether: 43,514 BTC
- MARA: 35,577 BTC
- Strive: 32,773 BTC
Strategy Executive Chairman Michael Saylor publicly praised Strive's latest acquisition, noting it was more than 13 times larger than Strategy's own 250 BTC purchase during the prior week. Strive CEO Matt Cole has previously stated the company's goal of ending 2026 as the world's second-largest public bitcoin holder. To reach that position, Strive would need to close the gap of 11,227 BTC, valued at roughly $937.5 million, with Metaplanet. That would require adding around 990 BTC per week on average, assuming Metaplanet makes no further purchases.
How Strive is funding its bitcoin purchases
Since going public in September 2025, Strive has accumulated bitcoin through multiple channels. These include 5,886 BTC from initial fundraising proceeds and exchange activity, along with other capital market instruments such as at-the-market programs and follow-on offerings. A central piece of the funding strategy is Strive's Variable Rate Series A Perpetual Preferred Stock, known as SATA. The company describes SATA as a high-yield, bitcoin-backed instrument modeled on Strategy's STRC product, currently offering a 13% annualized dividend rate paid daily. Strive also holds 505,000 shares of Strategy's STRC preferred stock, extending its exposure to bitcoin-linked yield products.
What remains to be seen
Cole's target of becoming the second-largest public bitcoin holder by the end of 2026 depends on several factors. Most notably, the company would need to sustain purchases of roughly 990 BTC per week while Metaplanet makes no additional acquisitions. That scenario is a projection, not a confirmed outcome, and actual results will depend on market conditions and the purchasing behavior of competing companies.
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.