Strive Inc. (Nasdaq: ASST) announced a $10 million purchase of Bitcoin that added 124 BTC to its treasury, raising the total to 43,124 BTC. The acquisition, disclosed on X on November 2, was funded primarily with existing cash and represented the first use of the company’s at‑the‑market (ATM) program for its SATS preferred stock.
Details of the purchase
The 124 Bitcoin were bought at an average price of $80,526 per coin. This transaction increased Strive’s holdings by roughly 0.29 % from the prior balance of 43,000 BTC.
Previous activity
On October 26, Strive disclosed a larger purchase of 6,182 BTC that cost about $511.4 million, bringing holdings to 43,000 BTC at an average price of $82,732 per Bitcoin. Earlier in October, a $280 million acquisition was financed largely through warrant exercises and preferred‑stock financing.
Management commentary
Chief Investment Officer Ben Werkman said the company is balancing aggressive buying with restraint, emphasizing a long‑term, “marathon” approach to delivering sustainable value for shareholders.
Financing structure
The SATS preferred‑stock offering, closed on October 20, raised $630 million from 7 million shares priced at $90 each. Proceeds from the ATM program supplied all weekly at‑the‑market proceeds for the recent purchase. The company’s amplification ratio, which compares debt and preferred‑stock obligations to the market value of its Bitcoin holdings, was reported at 62.7 %.
Industry context
Strive is currently the fourth‑largest publicly traded Bitcoin treasury holder, trailing Strategy, Metaplanet and Twenty One Capital. A further increase could move it closer to the second‑place spot, though it would remain far behind Strategy’s 849,327 BTC.
