Strive, Inc. told the U.S. Securities and Exchange Commission on September 14, 2026 that it bought 469 bitcoin between September 8 and 11, roughly a third of the prior week’s pace, taking its treasury to 25,000 BTC.
Key Takeaways
- Strive bought 469 bitcoin over four days at an average price of about $77,954, or roughly $36.6 million.
- The company’s bitcoin treasury now stands at 25,000 coins, up from the 24,531 reported in its previous weekly disclosure.
- Strive’s buying pace fell to 469 bitcoin from 1,375 a week earlier, a drop of roughly two thirds.
- SATA preferred shares outstanding rose by 402,541 over the period, while Class A common stock grew by just 34,206 shares.
- Cash and cash equivalents edged up to $204.2 million, and the Strategy STRC position stayed flat at 505,000 shares.
What Happened?
Strive disclosed the purchase in an 8-K filed with the SEC, which states the company “purchased 469 bitcoin at an average price of approximately $77,954 per bitcoin, inclusive of fees and expenses.” The filing covers holdings, cash and share counts as of September 11.
Cash and cash equivalents rose by $1.6 million to $204.2 million. Strive’s 505,000 shares of Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, the STRC issue, did not change in number, though their fair value gained $449,000 to $49.8 million. The company has been building the position since March, when it put $50 million into the Strategy preferred series.
. @Strive bought 469 BTC between Sept. 8 and 11 at an average price of about $77,954 per bitcoin, according to an SEC filing.
— CoinLaw (@coinlaw_io) September 14, 2026
The company now holds 25,000 BTC, plus @Strategy preferred shares and $204.2 million in cash.
The buying pace fell well short of Cole’s own year-end math
Strive bought 1,375 bitcoin the week before at an average price of $79,281, about $109 million. CEO Matt Cole said in that period that overtaking Twenty One Capital as the second-largest corporate bitcoin treasury by year-end would take roughly 1,200 bitcoin a week, a pace he did not treat as his base case. The 469 coins land at about 39% of that figure, still well above the 79 coin buy that took Strive to its 20,000 BTC milestone in July.
Price gives the slowdown some context. Bitcoin traded at $77,665.57 at 9:15 a.m. ET on the final day of the purchase window, which puts Strive’s average cost of $77,954 slightly above spot.
Preferred stock did the funding
The share tables carry the mechanism. SATA preferred shares outstanding climbed by 402,541 while Class A common rose by 34,206, and outstanding options fell by 43,666. Assumed fully diluted shares shrank by 9,460 to 98,139,091. Common holders absorbed no meaningful dilution from a purchase of this size.
What the filing shows is share counts and balances, not a breakdown of proceeds by instrument for these four days. Cole put SATA at about 70% of capital raised in the prior week, and no equivalent figure has been published for this one. Investors already holding ASST or SATA can read the 8-K itself for the SATA dividend rate language and the warrant and option counts, which move independently of the bitcoin line.
The Bottom Line
The structure here is doing more work than the purchase size. Strive is running a treasury that grows through perpetual preferred issuance, so the bitcoin count rises while the common share count barely moves, and the cost of that arrangement sits in the dividend obligation. A quieter week does not break the model; it does show that issuance volume sets the weekly buying number.
Context sharpens the read. Strategy held 845,050 bitcoin and bought none in the comparable week, choosing instead to repurchase its own preferred stock, which leaves Strive as one of the few large bitcoin treasury companies still adding at all. Three questions stay open: how much of this purchase came from SATA proceeds, whether the dividend rate moves again, and how Strive closes a year-end gap its own chief executive priced at 1,200 coins a week.
