Strive expands bitcoin holdings with $280 million purchase

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Strive expands bitcoin holdings

Highlights

Strive purchased 3,311 bitcoin for about $280 million between October 5 and 9, raising its holdings to 32,773 BTC at an average cost of $84,500 per coin.
Funded via capital markets activity, PIPE proceeds, and at-the-market programs, Strive's cash and equivalents increased week-over-week to $310.3 million while continuing STRC preferred stock purchases.
Strive's aggressive accumulation strategy aims to challenge Marathon Digital Holdings by the end of 2026 and underscores the growing use of structured finance in corporate bitcoin treasury strategies.

Acquisition scale and funding channels

As reported by The Block, citing an 8-K filing with the U.S. Securities and Exchange Commission, Strive bought 3,311 bitcoin between October 5 and October 9 for about $280 million, at an average cost of roughly $84,500 per coin including fees and expenses.

The purchase marks the company's largest increase in bitcoin holdings since January, when an all-stock merger with Semler Scientific added about 5,048 BTC to its reserves. After the latest acquisitions, Strive's total holdings reach 32,773 BTC.

Chief executive Matt Cole says the company is accumulating BTC through capital markets activity, PIPE proceeds and at-the-market programs. Strive also reports a week-on-week rise in cash and equivalents to $310.3 million while continuing to buy Strategy's STRC preferred stock.

Market positioning in corporate crypto

That accumulation strategy moves Strive closer to Marathon Digital Holdings, known by the ticker MARA, and supports its stated goal of becoming the second-largest public bitcoin holder by the end of 2026.

Metaplanet still holds 11,227 BTC more than Strive, leaving a sizeable gap in the race among listed companies to build large bitcoin treasuries. The company's latest move also highlights how structured finance tools and equity-linked transactions are becoming a larger part of corporate cryptocurrency acquisition strategies.

Strive's expansion reflects a broader pattern of public companies treating bitcoin holdings as a balance-sheet strategy as well as a market-positioning tool. That approach is increasingly tying treasury management, capital raising and crypto exposure more closely together across the sector.

Our earlier coverage on Galaxy Digital’s improving outlook highlighted how a stronger backdrop for digital assets and clearer U.S. regulation were lifting sentiment toward crypto-linked companies. It also noted Galaxy’s shift toward an infrastructure-focused model, with tokenization-related market infrastructure and AI data center operations seen as key drivers of potential earnings growth.

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