Strive, Inc. is positioned to become the second-largest corporate holder of Bitcoin, needing just 1,001 BTC to overtake Metaplanet. As of late October 2026, Strive held 43,000 BTC compared to Metaplanet's 44,000 BTC.
The rankings of largest public Bitcoin treasuries currently stand as follows: MicroStrategy holds approximately 848,000 BTC, followed by Metaplanet with 44,000 BTC. Twenty One Capital ranks third with 43,514 BTC, while Strive sits fourth at 43,000 BTC. MARA Holdings holds approximately 35,577 BTC.
Strive's rapid accumulation marks a dramatic shift. The company held approximately 7,500 BTC at the end of 2025, growing to 43,000 BTC within less than a year. In October 2026 alone, Strive purchased 6,182 BTC for around $511 million, substantially closing the gap with Metaplanet.
Funding Strategy
Rather than relying on traditional debt, Strive has funded its Bitcoin purchases through perpetual preferred stock offerings, known as SATA and SATS, along with warrant exercises. The company has offered perpetual preferred shares carrying a 15% dividend rate, which has attracted capital quickly.
Metaplanet, by contrast, has grown at a more measured pace. The Japanese firm posted a net increase of 1,000 BTC in the third quarter of 2026, reflecting liquidity-related transactions during the period.
Corporate Treasury Competition
Corporate Bitcoin treasuries have evolved from a niche strategy into a competitive field. MicroStrategy pioneered the model of holding Bitcoin as a primary reserve asset while raising capital through securities offerings to purchase additional holdings. Metaplanet adopted this approach in Japan and built one of the largest non-US Bitcoin stacks. Twenty One Capital and Strive have since emerged as aggressive newer entrants, while MARA Holdings transitioned from Bitcoin mining into treasury accumulation.
For Bitcoin markets, competition among treasury firms represents a significant source of corporate demand. Strive's absorption of more than 35,000 BTC since the end of 2025 demonstrates the scale of institutional participation in Bitcoin acquisition.
