Strive Buys $109 Million in Bitcoin, Pushes Preferred Stock Toward $1 Billion

In brief

• Strive bought 1,375 BTC for about $109 million between Aug. 31 and Sept. 4 at an average price of $79,281 per coin, according to CEO Matt Cole, lifting its total stack to 24,531 BTC.
• Cole said 70% of the capital raised last week came from SATA, Strive's preferred stock, which now has $999 million in notional value outstanding.
• Chief Risk Officer Jeff Walton said it's Strive's third straight week of 5%-plus Bitcoin growth, with holdings up 21.1% over the past three weeks.

Strive bought another 1,375 Bitcoin last week, paying $109 million and pushing the fundraising machine behind the purchase to the edge of a ten-figure milestone.

The Nasdaq-listed asset manager picked up the coins between Aug. 31 and Sept. 4 at an average price of $79,281 per Bitcoin, its CEO Matt Cole said in a post on X.

That lifts Strive's total holdings to 24,531 BTC, worth roughly $1.9 billion at current prices.

Strive is one of a growing club of public companies that raise money specifically to buy and hold Bitcoin, betting the cryptocurrency's price climbs faster than a normal business could grow. Michael Saylor's Strategy pioneered the playbook in 2020; Strive, Twenty One Capital, and dozens of smaller firms have since copied it with varying degrees of aggression.