Strive CEO Says Firm Could Become No. 2 Public Bitcoin Holder by Year-End With $1.4 Billion in Buying Capacity

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Strive, a corporate Bitcoin treasury company, could become the world's second-largest public company by Bitcoin holdings by the end of this year, according to Chief Executive Officer Matt Cole. He said the company could also gain as much as $1.4 billion in additional capacity to buy Bitcoin if its stock warrants are exercised.

Cole made the remarks on the One Share podcast, The Block reported on September 3. He said it was "not an impossible scenario" for Strive to end the year as the No. 2 corporate Bitcoin holder, while stressing that it was not his base-case outlook and would depend on several conditions being met.

The main variable is roughly $700 million of Strive stock warrants set to expire in mid-October. Cole said the company could use the proceeds to buy more Bitcoin if the shares trade above the $27 exercise price and the warrants are exercised. Adding another $700 million tied to digital credit would bring Strive's total potential buying capacity to $1.4 billion, he said.

"I hope the warrants are exercised rather than expiring worthless," Cole said. "If that happens, we could finish this year's Bitcoin accumulation strategy very strongly."

Strive has recently stepped up its Bitcoin purchases. It bought 136 BTC in July and another 3,156 BTC in August. Its holdings now total 23,156 BTC, valued at about $1.9 billion.