According to the latest 8-K filing, Strive acquired 2,500 BTC between May 23 and June 1, 2026, for approximately $185.2 million at an average price of $74,092 per coin, bringing its total Bitcoin holdings to 19,000 BTC. This purchase was completed at a lower average price than the company's previous acquisition of 1,109 BTC for $85.4 million on May 22, suggesting Strive bought into the recent Bitcoin price decline that took the cryptocurrency from above $74,000 last week to roughly $70,800 by Tuesday morning. The company's latest acquisition pushes its Bitcoin treasury further into the top 10 of publicly traded corporate holders, with Strive now ranking ahead of Coinbase (16,492 BTC) and Riot Platforms (15,680 BTC) in terms of corporate Bitcoin holdings. The filing also showed that Strive increased its cash and cash equivalents to $137.3 million from $93.3 million, while maintaining its roughly $50 million position in Strategy's STRC preferred stock.
According to the SEC filing, Strive's cash and cash equivalents increased significantly to $137.3 million from $93.3 million during the same period, while the company maintains no short-term or long-term debt. CEO Matt Cole stated that "Cash was increased to maintain an 18-month dividend reserve," alongside updated company metrics showing a quarter-to-date bitcoin yield of 23% and a year-to-date bitcoin yield of 36.7%. The company's STRC Stock position had a fair value of $49.5 million, down slightly from $50.1 million. This substantial cash buildup provides Strive with enhanced financial flexibility to continue its Bitcoin accumulation strategy and fund future growth initiatives. The company's earlier acquisition of Semler Scientific also added a medical-device business to its operations, giving Strive an operating business alongside its Bitcoin treasury strategy.
In a separate June 1 SEC filing, Strive announced plans to significantly expand its at-the-market (ATM) programs, expecting to increase each program by $2.1 billion. The proposed changes would raise the Class A common stock ATM program to $2.55 billion and the SATA Stock ATM program to $2.6 billion. CEO Matt Cole stated that the planned increase came from "a sustained increase in liquidity and demand for both securities." The proposed ATM increase would not create an immediate capital raise, but indicates Strive may have additional capacity to raise capital for corporate needs, acquisitions, operating support, or future treasury activities. The changes still depend on completion of documents, SEC prospectus filings, and a certificate amendment for the SATA Stock.
Despite the strong acquisition performance, Strive's Class A common stock fell more than 9% to $15.60 in early Tuesday trading amid a crypto market selloff that pushed bitcoin to a nearly one-month low of around $68,500. However, Benchmark analyst Mark Palmer initiated coverage with a Buy rating and $32 price target, arguing the company has "one of the most differentiated capital structures in the bitcoin treasury sector." The analyst noted that Strive maintains "permanent capital" through its own SATA perpetual preferred stock rather than relying on convertible debt or bitcoin-backed leverage, and has retired debt from its Semler Scientific acquisition while continuing to fund treasury through preferred-share issuance. This contrasting approach between Strive's continued accumulation and Strategy's recent selling highlights the different strategies among major corporate Bitcoin holders, with Strategy selling 32 BTC for approximately $2.5 million - its first reported sale since late 2022.
