Strive acquired 2,000 bitcoin for $168.8 million during a week-long buying period from September 28 through October 2, expanding its treasury to 29,462 BTC. The purchase occurred at an average price of $84,422 per coin, according to an announcement made by CEO Matt Cole on October 5 alongside the company's Form 8-K filing.
The capital for the expansion came from two sources: 61.5% was raised through SATA, Strive's variable-rate Series A perpetual preferred stock, while warrant exercises generated an additional $56.7 million.
Strive's bitcoin accumulation accelerated significantly during the third quarter. The company entered September with 27,462 BTC and exited the quarter on September 30 with 28,000 BTC at an average acquisition cost of $90,170. Over the full quarter, Strive acquired 8,137 BTC at an average price of $78,885.
Comparison with Strategy
Despite aggressive purchasing, Strive remains substantially smaller than Strategy, the largest publicly held bitcoin treasury. During October 1-4, Strategy added 334 BTC for $28.7 million, bringing its holdings to 848,000 BTC. While Strive purchased nearly six times as many coins during its buying window, Strategy's treasury remains approximately 29 times larger.
According to CEO Cole, Strive could potentially reach second place among public bitcoin holders by year-end, though he characterized this as not his base case. As of the article's reporting, bitcointreasuries.net ranked Strive as the fifth-largest bitcoin holder among public companies.
Performance Metrics
Strive reported 27,801 satoshis per assumed diluted share at quarter-end and a 99.4% Bitcoin Yield over the preceding 12 months. The company noted that Bitcoin Yield is not a GAAP performance, valuation, or liquidity measure.
Strive's Amplification Ratio stood at 55.3%, with management stating an objective to push the figure above 60% while bitcoin remains below $100,000.
