Strive Acquires 4,045 BTC for $335 Million

Strive, a company listed on Nasdaq and holding Bitcoin as a treasury asset, purchased 4,045 BTC between October 12 and 16, 2026, at an average price of approximately $82,803 per coin, as reported in its regulatory filing on Monday. The package was valued at around $335 million, and the total reserves increased from 32,773 to 36,818 BTC – over $3 billion at current prices.

The funds came from warrants – contracts granting the right to buy new shares at a fixed price. On October 12 and 13, investors exercised 273,493,909 warrants, receiving 13,674,703 new Class A shares and bringing in about $369.2 million. The remaining warrants expired on October 13; no traditional warrants remain. Class A shares outstanding increased from 101.2 million to 114.8 million over the week – approximately 13.5%. This dilutes each shareholder's stake unless the new funds compensate for it. By the end of the week, Strive had $317.5 million in cash – $7.2 million more.

Strive was founded in 2022 as an asset management company opposing ESG; among its co-founders is former presidential candidate Vivek Ramaswamy. In May 2025, it made Bitcoin a treasury reserve in preparation for a merger with Asset Entities, and in September, it agreed to acquire Semler Scientific – a medical equipment manufacturer with ~5,000 BTC – for ~$1.3 billion in stock. After shareholder approval in January, the combined company held ~12,800 BTC, meaning reserves nearly tripled.

A week earlier, Strive purchased 3,311 BTC (~$280 million) at ~$84,500. The last 1,223 coins of this batch (October 14–16) cost an average of ~$81,734.

For comparison: Strategy bought 267 BTC for ~$22.1 million at ~$82,900, bringing reserves to 848,517 BTC, repurchased STRC for $193.1 million (Strive holds 505,000 such shares), and increased the preferred stock buyback program from $2 billion to $3 billion. On October 15, MSCI finalized the rule on "non-operating companies": those failing the check are excluded from indices as of the close on November 30, with the list on November 11; Michael Saylor called the rule discriminatory.

In the digital treasury segment, Bitmine by Tom Lee added 12,535 ETH (~$30 million) and holds 6,041,481 ETH – 4.9% of ~122.1 million tokens. Lee mentioned that purchases would stop at 5%, citing a general risk-off sentiment: concerns over AI funding, US-Iran tensions, election nervousness, and rising bond yields.

On October 15, Strive priced an increased offering of 7 million shares of new 15% perpetual preferred stock Series A (SATS) at $90 each – expected proceeds of about $630 million, settlement on October 20. The dividend is 15% of the $100 par value, or $15 annually, approximately 16.7% for buyers at $90; payments are cumulative, and $22.50 per share will be set aside for the first 18 months of dividends. Regular payment dates begin on November 9.