Strive expands bitcoin holdings as warrant exercises raise $369 million
Strive is increasing its bitcoin treasury after a new purchase pushes its holdings above 35,000 BTC. The latest acquisition follows strong warrant participation and comes as the company also proposes a preferred stock offering that could support further crypto-related purchases.
Highlights
- Strive purchased 2,822 BTC for $235 million between Oct. 12 and Oct. 13 at an average price of around $83,266 per bitcoin.
- Strive's total bitcoin holdings now stand at 35,595 BTC, narrowly surpassing MARA's 35,577 BTC, making it one of the largest bitcoin treasury companies.
- Investors exercised warrants for 13,674,703 Class A shares, raising $369.2 million in gross proceeds and indicating 94% aggregate participation to boost funding capacity.
Bitcoin purchase and capital inflow details
As reported by The Block, Strive says it bought 2,822 BTC for $235 million between Oct. 12 and Oct. 13 at an average price of about $83,266, including fees and expenses, citing a Form 8-K filing.The company says the purchase lifts its total bitcoin holdings to 35,595 BTC. That places Strive among the largest bitcoin treasury companies and puts it narrowly ahead of MARA's 35,577 BTC, based on Bitcoin Treasuries data, while Strategy, Metaplanet and Tether-backed Twenty One remain above it in the rankings.
Strive also says investors exercised warrants covering 13,674,703 shares of its Class A common stock, generating expected gross proceeds of $369.2 million. Aggregate participation in the warrant exercises reaches 94%, adding to the company's funding capacity for further balance sheet expansion.
Funding options and treasury strategy
Separately, Strive proposes an initial public offering of 5 million shares of its 15% Series A Perpetual SATS preferred stock, each with a stated amount of $100. The company says proceeds could be used for bitcoin and bitcoin-related purchases, income-generating assets, working capital and other corporate purposes, although the deal remains subject to market and other conditions.Chief Executive Matt Cole previously says Strive could finish 2026 as the world's second-largest public bitcoin holder, while describing that outcome as uncertain. The latest purchase and new financing plans underline how bitcoin treasury companies are continuing to use equity-linked instruments and preferred securities to expand crypto exposure and compete for scale in the sector.
Our earlier article on General Atlantic’s planned IPO detailed how the private capital group is targeting a public listing as soon as spring 2027 to fund a broader expansion strategy. We noted the firm’s efforts to diversify into new markets and client segments, after previously delaying listing plans amid market volatility and higher rates, and how a flotation could value it at up to $10 billion.
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