Strive’s 43,124 $BTC Bet Gets a SATS-Side Boost as It Closes In on the Leaders

Strive acquired 124 $BTC for $10 million, bringing its total holdings to 43,124 $BTC worth roughly $3.3 billion, CEO Matt Cole said. The Dallas-based Bitcoin treasury company co-founded by Vivek Ramaswamy ranks fourth among publicly traded companies, according to Bitcoin Treasuries data, with holdings representing about 0.2% of the 21 million Bitcoin that will ever exist.

Strive trails Twenty One Capital, which holds 43,514 BTC, by 390 coins and Metaplanet, which holds 44,000 BTC, by 876 BTC. At Bitcoin’s price of about $77,000, those gaps are worth roughly $30 million and $67 million, respectively. The company’s Bitcoin holdings were valued at $3.5 billion on Oct. 23, according to its prospectus, against an average acquisition cost of $87,785 per coin, or $3.8 billion in total.

Cole wrote on X: “Strive acquired 124 $BTC for $10M at an average cost of $80,526 per bitcoin, bringing total holdings to ₿43,124.” The purchase covered Oct. 24 through Oct. 30 and was disclosed in an SEC filing on Nov. 2, 2026. Most of the funding came from existing cash, which fell from $504.4 million to $490.4 million during the week.

For the first time, all weekly ATM proceeds came from SATS, Strive’s new preferred stock security. Strive sold 7 million SATS at $90 each in an October offering that raised about $630 million. The shares carry a 15% annual dividend on a $100 stated value, payable every business day from Nov. 9, with dividends expected to be funded mainly through additional capital raises. Strive also opened an at-the-market program on Oct. 26 to sell up to $1 billion more SATS.

Strive has reserved 18 months of dividends and reported no debt as of Oct. 23. It also continues to hold 505,000 shares of Strategy’s preferred stock, known as STRC, worth about $50 million. Strive’s amplification ratio stood at 62.7%, equating to about $62.70 in preferred stock and debt for every $100 of Bitcoin. Michael Saylor’s Strategy popularized the corporate Bitcoin treasury model in 2020, paving the way for companies including Strive to follow.