Strive, Inc. (NASDAQ: ASST) disclosed on October 26, 2026, that it bought 6,182 bitcoin last week for about $511 million. The purchase, made at an average of roughly $82,732 per coin, lifted its treasury to 43,000 BTC.
At a Glance
- Strive made the purchases between October 17 and October 23, and the average price includes fees and expenses.
- Strive’s bitcoin balance rose 16.8% in a single week, climbing from 36,818 coins to the new total.
- Cash and cash equivalents finished the week at $504.4 million, higher than before the bitcoin spending began.
- A new $1 billion at-the-market program lets Strive keep selling SATS, a preferred stock paying a fixed 15% dividend.
What Happened?
Strive, based in Dallas, holds bitcoin as its core treasury asset. Its wholly owned investment adviser subsidiary manages over $2.8 billion in assets, the company said in its press release. CEO Matt Cole announced the buy on X and put the exact cost at $511.4 million.
Strive acquired 6,182 $BTC for $511.4M at an average cost of $82,732 per bitcoin, bringing total holdings to ₿43,000. – Cash and marketable securities increased by $187.7M to $554.6M. – Established a $1B $SATS ATM program. $ASST $SATA $SATS https://t.co/pKtqVmFobL
— Matt Cole (@ColeMacro) October 26, 2026
According to our tracking, this is the largest purchase Strive has made since it began holding bitcoin. The outlet’s tally now ranks Strive fourth among corporate holders. That puts it ahead of MARA Holdings at 35,577 BTC and just behind Twenty One Capital at 43,514 BTC.
The new buy dwarfs the 1,223 BTC Strive added the week before, and it far outpaces its earlier treasury additions.
Strive bought while its cash pile grew
The buying window overlapped with Strive’s first SATS sale. On October 15, the company priced 7 million SATS shares at $90 each, for gross proceeds of about $630 million. Strive had upsized that offering by 2 million shares over its original plan. The deal settled on October 20, midway through the purchase week.
Common stock did some of the work too. Class A shares outstanding rose by 3,266,034 to 118,113,644, and the filing counts shares sold through 4:00 p.m. EST. Cash and cash equivalents still grew by $186.9 million over the week, even with half a billion dollars going into bitcoin.
Cole’s own figure is broader. He said cash and marketable securities rose $187.7 million to $554.6 million. That total includes 505,000 shares of STRC, the Stretch preferred stock issued by Strategy (formerly MicroStrategy), valued at $50.2 million.
Dilution stayed modest next to the coin growth. Assumed fully diluted shares rose by 3,254,670 to 130,044,690, a much smaller move in percentage terms than the jump in bitcoin held. Class B shares slipped by 1,814 to 9,214,702, and options outstanding fell by 9,550.
Strive files a $1 billion SATS program
Strive signed a sales agreement on Monday with seven banks, including Cantor Fitzgerald and Barclays. It covers up to $1 billion of SATS sold through an at-the-market offering under a shelf registration filed in September 2025. The agents earn a commission of up to 2.0% of gross proceeds.
The filing states the company “has no obligation to sell any of the ATM Shares.” Strive can also suspend the program or terminate the agreement at any time.
Net proceeds can fund bitcoin purchases and other general corporate purposes, per the press release. The setup resembles Strategy, which funds its own bitcoin buys through ATM sales of its securities.
Price is the pressure point. The prospectus supplement shows SATS last traded at $94.88 on October 23, below its $100 stated amount. The 15% dividend accrues on that $100 figure, so every share sold under par costs Strive more than the headline rate.
The Bottom Line
SATS ranks below Strive’s variable-rate SATA preferred stock, which held steady at 14,030,176 shares, and above the common stock. Unlike SATA, SATS has no target trading range, so its rate stays put when the price drifts. Strive carries no outstanding debt, so the preferred stack sits directly above common shareholders in its capital structure.
Bitcoin traded near $80,000 on Monday, valuing the full stack at just under $3.5 billion. That left the newest coins sitting below their average cost. The first SATS dividend falls due on November 9 and, if declared in full, will cover every daily accrual since the shares settled.
