Strive Expands Bitcoin Holdings With 2,000 BTC Purchase

Strive (NASDAQ: $ASST) purchased 2,000 bitcoin for roughly $169 million between September 28 and October 2, pushing its total holdings to 29,462 BTC, according to a filing with the U.S. Securities and Exchange Commission on Monday.

The Vivek Ramaswamy-led treasury company bought the coins at an average price of $84,422 each, funded through its SATA preferred stock and warrant exercises. CEO Matt Cole said SATA accounted for 61.5% of the capital raised, with warrants generating an additional $56.7 million.

The purchase builds on an active third quarter, during which Strive acquired 8,137 bitcoin at an average cost of $78,885 per coin and generated an 18.5% bitcoin yield. The company reported $284.7 million in cash and equivalents, along with $50.2 million in STRC stock, as of the latest filing.

Strive's Bitcoin (CRYPTO: $BTC) position has grown more than 290% year to date, moving the company closer to becoming the fourth-largest corporate bitcoin treasury. It recently passed crypto exchange Bullish (NYSE: $BLSH) to claim fifth place and is now outpacing Strategy's recent purchases; Strategy (NASDAQ: $MSTR) added 334 bitcoin worth $28.7 million in its most recent disclosure. Cole characterized the pace of accumulation bluntly, noting the train is moving one direction, and the company keeps adding fuel.

ASST shares are up 0.79% to $34.47 in early trading Monday, extending a nearly 140% rally over the third quarter. The stock had already climbed 1.70% the prior week amid broader optimism in bitcoin treasury stocks and bitcoin's price holding near $86,000.