Strive's BTC Stash Crosses 32K as ASST Shops a $500M SATS Sale 🧠

Bitcoin treasury firm Strive (ASST) has disclosed the purchase of 3,311 BTC for roughly $280 million, lifting its corporate holdings to 32,773 BTC, according to a filing with the US Securities and Exchange Commission. The coins were acquired between October 5 and October 9 at an average price of approximately $84,500 per Bitcoin, including fees and expenses, and mark the company's largest single Bitcoin buy since January. The $BTC purchase raised Strive's reserves from 29,462 BTC, an 11.24% weekly increase, and pushed the Nasdaq-listed firm past the 30,000 BTC mark for the first time.

At last check on Tuesday, Bitcoin was trading hands at roughly $83,300 to $83,904, below Strive's reported average buy price. Strive shares were little changed at $27.52, down 0.39% on the day. Beyond its Bitcoin, Strive holds approximately 505,000 shares of Strategy's STRC preferred stock, valued near $50 million, and roughly $310 million in cash. Strategy, the largest publicly traded corporate Bitcoin holder, added 250 BTC last week to reach 848,250 BTC.

Alongside the acquisition, Strive Chairman and CEO Matt Cole said on X that investors had exercised approximately $208 million in warrants, with about 15.3 million warrants remaining ahead of their scheduled October 13 expiration at 5 p.m. Eastern Time. The company also disclosed in its SEC filing that it bought 3,311 BTC in the week ending Oct. 9 at an average price of approximately $84,500 per coin. Strive stated the purchase increased its Bitcoin holdings per share while its effective common share count rose 9.4%, leaving 11.2% growth in reserves outpacing dilution.

Strive also amended its governing documents to set a binding $100 minimum issuance price for its SATA preferred shares, limiting its ability to issue them below that threshold; SATA shares were trading at $99.40 at last look. The firm separately announced a new perpetual preferred stock, SATS, priced at $100 per share with a 15% fixed dividend, aiming to raise $500 million from 5 million shares. SATS will sit junior to SATA, which pays a variable rate currently set at 13%, and both classes will pay dividends on a daily basis; at closing, Strive intends to establish a dividend reserve equal to the first 18 months of SATS payments. Proceeds are earmarked to purchase additional bitcoin, acquire income-producing assets, or buy back stock.

Strategy Executive Chairman Michael Saylor commented on Strive's approach on X, writing: "Strive is turning demand for digital equity (ASST) and digital credit (SATA) into demand for Bitcoin. Its hypergrowth shows how the capital markets are accelerating Bitcoin adoption." Strive ranks as the fifth-largest publicly traded corporate Bitcoin holder, according to industry data cited in corporate filings.