Strive Outpaces Saylor's Strategy With $86 Million Bitcoin Treasury Push

Strive built its Bitcoin treasury by raising $85.88 million in three trading days. The firm completed three SATA sessions between September 21 and September 23. Analysts estimate the raise funded roughly 1,001 additional coins for its Bitcoin treasury.

Strive's Bitcoin Treasury Grows Session By Session

Strive opened the week with $27.69 million in net proceeds on September 21. The company sold about 284,000 shares to fund its Bitcoin treasury that day. Trackers estimate the session added 321.97 coins at an average price of $86,001.

The pace accelerated on September 22, and the Bitcoin treasury expanded further. Strive raised $36.08 million and sold roughly 370,000 shares. The session added an estimated 418.27 coins at an average price of $86,266.

September 23 brought a smaller but steady gain for the Bitcoin treasury. Strive raised $22.11 million and sold about 226,700 shares. The tracker values that day's addition at 261.43 coins, priced near $84,556.

Strategy's Bitcoin Treasury Faces A Funding Gap

Michael Saylor's Strategy runs a larger Bitcoin treasury but has hit a financing wall. Its preferred stock, STRC, has traded below the $100 par value since June. The shares fell as low as $73.62 during that stretch.

Because STRC has failed to raise new capital since June, Strategy shifted tactics. The company turned to STRC buybacks instead of fresh share sales. Even so, Strategy still expanded its Bitcoin treasury during the September 14-20 week.

Strategy added 950 coins that week for $75.7 million. The average purchase price came to $79,670 per coin. Its total Bitcoin treasury now holds 846,000 coins, bought for about $63.8 billion at an average cost of $75,416 each.

A Widening Gap Between The Two Companies

Strive's Bitcoin treasury has outpaced Strategy's buying rate in recent weeks. Between September 14 and 18, Strive purchased 1,355 coins for $107.7 million. Its total holdings reached 26,355 coins at that point.

Warrant exercises added extra fuel to Strive's fundraising engine. Those exercises generated $21.2 million in gross proceeds last week. More than half of Strive's total capital raised has come through SATA proceeds since the program began.

The contrast highlights two different paths for building a Bitcoin treasury. Strive leans on ATM share sales and warrant activity to keep buying. Strategy, meanwhile, now depends on buybacks and other funding sources while STRC remains under par.

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