Strive expands bitcoin treasury with $511 million purchase and new $1 billion stock program

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Strive expands bitcoin treasury

Highlights

Strive increases bitcoin holdings by 6,182 BTC to a total of 43,000 BTC between Oct. 17 and Oct. 23 per SEC 8-K filing.
Strive launches a $1 billion at-the-market SATS preferred stock program to fund additional bitcoin purchases and general corporate purposes.
Strive closes a 7 million SATS preferred share offering on Oct. 20, raising about $630 million with a 15% annual dividend and 18 months of payments reserved.

Bitcoin accumulation and funding plan

As reported by The Block, citing an 8-K filing with the Securities and Exchange Commission, Strive increases its bitcoin holdings between Oct. 17 and Oct. 23 by 6,182 BTC, taking its total treasury to 43,000 BTC. The company also says in a separate SEC filing on Monday that it establishes an at-the-market offering program for up to $1 billion of its SATS preferred stock, with proceeds available for general corporate purposes including additional bitcoin purchases, working capital and other investments.

Strive ends Oct. 23 with $504.4 million in cash and cash equivalents, up from $317.5 million a week earlier. Its Class A shares outstanding also rise by about 3.3 million over the same period to 118.1 million.

The company separately closes its offering of 7 million SATS preferred shares on Oct. 20, raising about $630 million before expenses. Those shares carry a 15% annual dividend, and Strive says it sets aside enough funds to cover the first 18 months of payments.

Race for public company bitcoin scale

With 43,000 BTC, Strive now sits in fourth place among public company bitcoin holders and narrows the gap with Metaplanet and Twenty One. Bitcoin Treasuries data shows Strategy remains far ahead with 848,517 BTC, while Metaplanet holds 44,000 BTC, Twenty One holds 43,514 BTC and MARA holds 35,577 BTC.

Chief executive Matt Cole has repeatedly said the company aims to finish the year as the second-largest public bitcoin holder. Based on the current standings in the data cited, Strive needs to add roughly 105 BTC a week to move past Metaplanet's present total.

Strive also continues to hold 505,000 shares of Strategy's STRC preferred stock, valued at $50.2 million as of Oct. 23, up from $49.3 million a week earlier. The number of SATA preferred shares outstanding is little changed at about 14 million.

Our earlier article on rising long-term Treasury yields and the U.S. deficit explained how borrowing costs above 5% are tightening financial conditions, lifting mortgage rates, and increasing federal interest expenses as annual shortfalls head toward $2 trillion. It also noted that heavy capital demand—particularly for AI infrastructure—along with political gridlock is reinforcing the pressure, pushing major issuers and investors to rethink funding choices in a higher-yield environment.

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