Strive Asset Management, run by Matthew Cole, has become Bitcoin's most aggressive weekly buyer, a position long held by Michael Saylor's MicroStrategy. Between October 5 and 9, Strive acquired 3,311 BTC for approximately $280 million at an average price of around $84,500, its largest single purchase since January.
In the same period, MicroStrategy purchased only 250 BTC for about $21.5 million, marking a 13-to-1 difference in buying volume. MicroStrategy's purchases have declined for two consecutive weeks, and the company spent $192 million repurchasing its own preferred shares during this stretch—nearly nine times more than it spent on Bitcoin.
Despite this shift in weekly activity, MicroStrategy remains the largest Bitcoin holder by far. The company holds 848,250 BTC valued at approximately $51 billion, more than 25 times Strive's position. However, the distinction between largest holder and most aggressive current buyer has now split for the first time.
Strive's total Bitcoin holdings now stand at 32,773 BTC, worth approximately $2.73 billion. The company announced a new capital raise of $500 million through the sale of 5 million preferred shares at $100 each, with proceeds earmarked for additional Bitcoin purchases. The preferred shares carry a fixed 15% annual dividend.
MicroStrategy's mNAV recently fell below 1.0 for the first time, indicating the market values the company at less than the Bitcoin on its balance sheet.
