Strive Acquires 2,000 Bitcoin in Largest Purchase in Four Months
Strive, a publicly traded company, significantly expanded its Bitcoin holdings last week, acquiring 2,000 BTC in its largest single purchase in four months. The company disclosed in a filing with the Securities and Exchange Commission (SEC) that it paid an average of approximately $84,422 per coin between September 28 and October 2, amounting to an investment of roughly $169 million.
This latest acquisition follows a substantial purchase of 2,500 Bitcoin between May 23 and June, which at the time increased Strive’s total holdings to 19,000 BTC. As of October 2, Strive’s total Bitcoin reserves now stand at 29,462 BTC. Valued at an average price of around $86,000 per coin, these holdings represent a market value of approximately $2.5 billion.
Strive operates as a Bitcoin treasury company, a business model that involves raising capital from investors and allocating it to Bitcoin rather than traditional cash reserves. The company’s significant growth in Bitcoin reserves was further bolstered by its agreement in September 2025 to acquire Semler Scientific, a healthcare technology firm that held approximately 5,000 Bitcoin.
Shareholders approved this acquisition in January, consolidating a combined Bitcoin stash of about 12,800 BTC. By late April, Strive’s holdings had grown to 14,557 Bitcoin, and by mid-August, this figure had reached 20,246 BTC.
The cryptocurrency market has seen considerable movement since these acquisitions, largely in a direction favorable to Bitcoin holders. The average price of Bitcoin last week was approximately 41% higher than the figure recorded in July. Consequently, Strive’s Bitcoin holdings have appreciated by 48% in dollar value since July 2.
While the recent SEC filing does not specify the exact source of funds for last week’s purchase, Strive has primarily raised capital in recent weeks through the sale of SATA, a type of preferred stock. SATA shares offer holders regular dividend payments ahead of ordinary shareholders. In the week ending September 4, SATA accounted for 70% of capital raised, and this figure rose to 85% in the week ending September 25.
Each SATA share has a stated value of $100, and Strive currently offers an annual dividend rate of approximately 13%. This rate is adjustable, and the company previously announced its intention to begin paying dividends daily starting June 16. In practical terms, investors provide cash to Strive, which in turn pays out roughly $13 annually for every $100 share. As Bitcoin does not generate interest, these dividend payments must be funded from Strive’s existing cash reserves or through further capital raises. The company’s filing indicates $284.7 million in cash and no outstanding debt.
The filing also notes that Strive’s average cost per Bitcoin at the end of September was $90,170, a figure that is above the approximate $86,000 trading price of Bitcoin on Monday. This means that, on paper, Strive’s current Bitcoin position is valued at less than its acquisition cost.
For individuals unfamiliar with cryptocurrency, Strive’s structure offers a straightforward way to gain exposure to Bitcoin. Its stock, traded on the Nasdaq, allows investors to speculate on Bitcoin’s price movements through conventional brokerage accounts. The SATA preferred stock, meanwhile, provides a dividend stream from a company holding a substantial Bitcoin portfolio.
According to Bitcoin Treasuries, Strive ranks fifth among public companies holding Bitcoin. It trails Strategy, Twenty One Capital, Metaplanet, and MARA. Twenty One Capital currently holds 43,514 Bitcoin, with Strive now holding 14,052 fewer coins than that entity.
