Strive buys $235 million in bitcoin as warrant exercises yield $369 million

The warrant exercises bring aggregate participation to 94%, while a proposed preferred stock offering could fund additional bitcoin purchases.

By Brian Danga • Edited by Jason Shubnell
Business•October 14, 2026, 10:32AM EDT
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Strive buys $235 million in bitcoin as warrant exercises yield $369 million

Quick Take

  • Strive said it bought 2,822 BTC for $235 million, lifting its holdings to 35,595 BTC.

Bitcoin treasury company Strive bought another $235 million in BTC as investors exercised its remaining traditional warrants, bringing aggregate exercises to 94%, CEO Matt Cole said Wednesday.

The company purchased 2,822 BTC at an average price of approximately $83,266, including fees and expenses, between Oct. 12 and Oct. 13, according to a Form 8-K filing.

The acquisition lifts Strive's total holdings to 35,595 BTC, solidifying its position as the fourth-largest bitcoin treasury company and narrowing the gap with MARA, which holds 35,577 BTC according to Bitcoin Treasuries data. Strategy, Metaplanet, and Tether-backed Twenty One make up the rest of the top 3, with 848,250 BTC, 44,000 BTC, and 43,514 BTC, respectively.

Cole previously said the company could finish 2026 as the world's second-largest public bitcoin holder, although he described that outcome as uncertain.

Alongside the recent purchase, Strive Strive, Inc. (ASST) generated $369.2 million in expected gross proceeds after investors exercised warrants covering 13,674,703 shares of its Class A common stock, the filing said.

Separately, the company proposed an initial public offering of 5 million shares of its 15% Series A Perpetual SATS preferred stock, with a stated amount of $100 per share.

Strive said proceeds from the offering could fund bitcoin and bitcoin-related purchases, income-generating assets, working capital, and other corporate purposes. The offering remains subject to market and other conditions.