Strive added 1,107 BTC for about $94.5 million last week, pushing its holdings above 27,400 BTC, while Strategy bought 1,665 BTC for $142.7 million. Together the two treasuries spent $232.5 million on bitcoin even as several peers sold coins to cover debt and operations.
Strive picked up 1,107 bitcoins for roughly $94.5 million last week, taking its total holdings above 27,400 BTC. The company paid an average of $85,396 per bitcoin between Sept. 21 and Sept. 25, according to a Monday Form 8-K filing with the Securities and Exchange Commission, and now holds 27,462 BTC.
Strategy made a similar move. The Nasdaq-listed company bought 1,665 coins for $142.7 million last week, its second consecutive purchase after a brief pause, and also repurchased $152 million of its preferred stock, STRC. Strategy now holds 847,666 bitcoins worth $70.5 billion. Combined, the two companies spent $232.5 million on bitcoin over the week.
Strive raised most of its capital through SATA
Strive funded the purchase mainly through its SATA perpetual preferred stock, which supplied 85% of the week's capital, up from 57.7% the previous week. Warrant exercises added $12.4 million in gross proceeds, down from $21.2 million a week earlier. The latest addition was smaller than the prior week's 1,355 BTC purchase.
Strive remains the world's fifth-largest public bitcoin holder, behind Strategy, Twenty One, Metaplanet and MARA. CEO Matt Cole has said the company could potentially reach second place by the end of 2026, though that isn't his base case. Strive would need another 16,053 BTC to overtake Twenty One's current 43,514 BTC. With 13 full weeks left in the year, that means averaging roughly 1,235 BTC per week.
Treasuries keep buying as some peers retreat
The purchases come as the corporate bitcoin treasury model takes a hit elsewhere. Strategy, Satsuma, Smarter Web Company, Sequans, Nakamoto and Empery Digital have all sold bitcoin this year to repay debt, fund operations or finance buybacks, while other firms have folded or pivoted to AI infrastructure as their share prices fell.
Strive's stock is down 0.3% on Monday to $29.35 but up nearly 70% year-to-date. Twenty One's stock has lost 26%, while Strategy's stock has lost over 50% of its value over the past year.
Sources: The Block, Bitcoin Magazine
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