Strive has completed a significant Bitcoin acquisition, purchasing 1,800 BTC for approximately $143 million between August 24-28 at an average price of $79,431 per coin. CEO Matt Cole confirmed the acquisition on Monday, as reported by TradingView News. This transaction increased the company's total Bitcoin holdings from 21,356 BTC to 23,156 BTC. The Dallas-based company now ranks as the fifth-largest publicly traded corporate Bitcoin holder, surpassing crypto exchange Bullish's 22,000 BTC holdings. At current Bitcoin prices of roughly $78,000, Strive's total holdings are valued at approximately $1.77 billion. The latest purchase represents a significant acceleration in Strive's accumulation strategy, with Adam Livingston noting that the acquisition increased the company's Bitcoin holdings by roughly 8.4% in just five business days. The company boosted BTC yield by 5.8% over the last two weeks.
Strive's latest Bitcoin purchases triggered a strong positive market response, with ASST stock jumping more than 5% on Monday, extending its monthly rally to over 100%. The stock price climbed to $22.61 during pre-market trading hours, signaling positive sentiment among investors as Bitcoin price holds strongly above $78,000. This contrasts with Michael Saylor's MicroStrategy (MSTR), which closed 2% lower at $21.74 on Friday as Bitcoin price slipped after Fed Chair Kevin Warsh's hawkish comments. However, MSTR trading volumes rose sharply, indicating renewed interest despite the price decline. The positive market reaction reflects investor confidence in Strive's Bitcoin accumulation strategy despite broader market volatility and renewed US-Iran war jitters. Meanwhile, SATA preferred stock dropped below its $100 par value last week and continues trading below par value at $99.95, indicating uncertainty in the crypto market.
Strive financed the Bitcoin purchases through its ASST common stock and SATA preferred stock programs, both operating through at-the-market programs. The latest filing showed outstanding Class A common shares increased by 3.58 million during the week, rising from 79.89 million to 83.47 million. SATA preferred shares also increased by 803,099 to 9.07 million, with the security carrying a $100 liquidation preference and an implied aggregate liquidation value of about $907.4 million. Despite the large purchase, Strive's cash reserves also rose slightly, increasing by $11.6 million during the week, rising from $171.9 million to $183.5 million. The company disclosed plans in June to add $2.1 billion capacity to each program, creating up to $4.2 billion in possible new fundraising capacity. However, SATA preferred stock is trading below par value at $99.95, indicating market uncertainty about the crypto market.
This latest purchase follows Strive's acquisition of 1,110 BTC for $81.5 million in the previous week, where the company paid an average of $73,409 per coin between August 17-21. Across both reporting periods, Strive acquired 2,910 BTC for approximately $224.5 million. The company's total Bitcoin purchases during the second quarter reached 6,236 BTC, with 12,237 BTC acquired during the first six months of 2026. The BTC were purchased using proceeds from SATA and ASST shares sold at-the-market offerings, with the company maintaining its commitment to BTC accumulation despite a massive drop in Bitcoin price and MSTR shares. CEO Matt Cole took to X to reach out to its shareholders and the broader crypto community about the latest Bitcoin purchase.
Strive's latest purchases have coincided with a broad recovery in Bitcoin and the wider digital asset market that began on August 19, when the US Treasury Department announced plans to double the size of certain long-term bond buybacks. The move helped push Treasury yields lower and fueled a rebound in risk assets, with Bitcoin rallying more than 23% to a recent high above $81,000. Bitcoin price is currently showing volatility, moving range-bound near $78,000, with a 24-hour low and high of $77,161 and $79,346 respectively. Trading volume has increased by 96% in the last 24 hours, indicating massive interest among traders. Polymarket data shows prediction market participants expect Bitcoin price to reach $85,000 by December, with 69% Yes bets. The company isn't alone in ramping up Bitcoin purchases, as Michael Saylor's Strategy, the world's largest corporate Bitcoin holder, announced Monday that it had resumed buying BTC for the first time since June, acquiring 4,603 Bitcoin at an average price of $80,318.
