Strive Asset Management has made its latest Bitcoin purchase, according to a filing with the U.S. Securities and Exchange Commission. The Nasdaq-listed company bought 1,110 BTC during the week of Aug. 17 through Aug. 21, spending about $81.5 million in total and bringing its Bitcoin treasury to 21,356 BTC.
The purchase price averaged $73,409 per Bitcoin, inclusive of fees and expenses, based on the company’s disclosures. As of the same period, Strive reported that its cash and cash equivalents increased by $17.1 million to $171.9 million, while its Class A shares outstanding rose by 3.65 million to 79.89 million.
Key takeaways
- Strive purchased 1,110 BTC for about $81.5 million between Aug. 17 and Aug. 21, per its SEC filing.
- The average all-in cost was $73,409 per Bitcoin, with Strive adding to a total holding of 21,356 BTC.
- Bitcoin was trading around $79,000 on Monday, roughly 8% above Strive’s reported average purchase price for the latest buys.
- Company data cited by BitcoinTreasuries.NET places Strive among the largest publicly traded corporate Bitcoin holders.
- Separately, Strive’s SATA preferred stock returned to its $99-to-$101 trading corridor after dipping earlier in June.
Another corporate Bitcoin buy—and what the pricing implies
In the SEC filing, Strive details how it executed the most recent tranche of Bitcoin purchases. The company’s average cost—$73,409 per BTC including fees and expenses—was below the approximate $79,000 level at which Bitcoin traded on Monday, according to the article’s market reference. That gap suggests Strive acquired the latest Bitcoin inventory at a discount relative to the spot price at the start of the following trading day, though investors will be watching how the treasury’s realized cost basis compares as new purchases continue.
The timing also matters for corporate-holding strategies that aim to maintain a consistent allocation rather than attempt precise market timing. Strive’s cash position, which rose to $171.9 million, indicates it had room to continue deploying capital into its treasury approach during the covered week. At the same time, growth in Class A shares outstanding to 79.89 million points to ongoing corporate balance sheet activity beyond the Bitcoin buy itself.
BitcoinTreasuries.NET data, cited alongside the filing, ranks Strive as the seventh-largest publicly traded corporate Bitcoin holder, positioning it behind Bullish and ahead of SpaceX. For traders, that kind of ranking can be more than trivia: it can influence investor perception around liquidity, follow-on demand, and how visible corporate BTC strategies are to the broader market.
Strive links the strategy to “scarcity” and share structure
Alongside the purchase news, Strive’s CEO Matt Cole framed the company’s broader thesis in terms of relative scarcity and how Strive’s share structure is intended to participate. In a post on X ahead of Monday’s market open, Cole said the “upside” is not only tied to Bitcoin moving higher, but to Bitcoin “becoming the fastest horse inside an expanding scarcity trade,” adding that $ASST is “structured to amplify” that outcome while remaining “responsibly” supported.
This is essentially an investor-facing explanation of why the treasury strategy is paired with the company’s capital structure. Investors should treat such statements as strategic framing—not performance guarantees—while monitoring how the firm actually funds purchases and how its market-linked products behave during BTC volatility.
Beyond Bitcoin: SATA preferred stock returns to its target range
While the Bitcoin purchase grabbed attention, Strive’s other major development was movement in its SATA preferred stock. The filing context notes that SATA closed at $100.01 on Friday, returning to a management targeted trading range of $99 to $101 after trading as low as $83.30 in late June.
According to the article, Strive previously narrowed SATA’s targeted corridor from $95–$105 to $99–$101 in March. Around that time, the company also stated it would not issue SATA through at-the-market or follow-on offerings below $100, a commitment that is designed to limit dilution at prices the company considers off-target.
SATA was launched in November 2025, initially selling 2 million shares at $80 each for $160 million in gross proceeds. The preferred stock is described as variable-rate and perpetual, with a stated amount and an initial liquidation preference of $100 per share—key features that differentiate it from Strive’s common equity.
Functionally, SATA is intended to operate as an income-focused instrument. The variable dividend rate is meant to encourage trading near $100, and the article notes Strive raised the annualized dividend rate to 13% in April. It also switched from monthly to daily dividend payments beginning June 16, referencing an SEC filing for the change in payment schedule.
How SATA compares to Strategy’s STRC
SATA is presented as similar to STRC, the variable-rate perpetual preferred stock issued by Strategy, which is widely regarded as the largest corporate Bitcoin holder. The article states STRC traded near $97 on Monday, below Strategy’s $100 target, while Strategy reported no Bitcoin purchases for the week ended Aug. 23.
For market participants, this comparison is useful because both SATA and STRC are designed to tie investor outcomes to corporate Bitcoin holdings while using dividend mechanics to influence preferred-share pricing. If Strategy is paused on new purchases while Strive is actively adding BTC, the relative behavior of their preferred instruments could become a proxy for how markets are weighing treasury accumulation versus dividend/rate adjustments.
However, investors should be careful not to assume one day’s price action directly reflects the treasury’s longer-term economics. Preferred stocks can respond to yield expectations, liquidity, and broader risk sentiment, and variable-rate structures can shift quickly as dividend calculations change.
Next, readers should watch whether Strive continues its steady cadence of Bitcoin purchases and how that activity filters into the market’s expectations for both ASST and its preferred share suite. The sustainability of SATA staying near the $100 corridor will also be important, especially if Bitcoin volatility increases or if Strive’s treasury strategy funds new buys alongside changes in dividends and share issuance.
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