Strive Adds $335M Bitcoin, Lifts Treasury to 36,818 BTC

Bitcoin treasury operator Strive reported another major increase to its BTC holdings after buying 4,045 bitcoin earlier this month. In an SEC filing, the company said it acquired the cryptocurrency between Oct. 12 and Oct. 16 at an average price of $82,803 per coin, including fees and expenses, bringing its total to 36,818 BTC.

The purchase underscores how Strive is using equity-linked funding to expand its treasury strategy, with proceeds from warrant exercises also contributing to its balance sheet. According to BitcoinTreasuries.net data, the updated holdings place Strive among the largest publicly traded corporate bitcoin holders.

Key takeaways

• Strive bought 4,045 BTC between Oct. 12–16, averaging $82,803 per coin, including fees and expenses.


• Total holdings rose to 36,818 BTC, with reserves valued at about $3 billion, per BitcoinTreasuries.net.


• Warrant exercises on Oct. 12 and 13 generated roughly $369 million in proceeds and led to the issuance of 13.7 million shares.


• Strive’s equity expansion and BTC increases remained closely aligned: the company reported a 12.4% rise in effective share count alongside a 12.3% increase in bitcoin holdings.


• Earlier in the month, Arkham-tracked wallets linked to MARA reportedly moved about $82 million to Binance and Gate, highlighting ongoing shifts among corporate treasuries.

Strive’s latest BTC purchase and cost basis

Strive’s latest acquisition comes from a specific window disclosed in a Monday filing with the US Securities and Exchange Commission. The company said it purchased 4,045 bitcoin at an average price of $82,803 per BTC, with transaction costs included. The total cost was described as approximately $335 million.

The update matters for investors tracking corporate bitcoin exposures because it provides both an average acquisition price and a clear accounting period. For treasury-focused companies, these details are often used to evaluate how quickly they’re accumulating and whether new purchases materially change their per-share BTC economics.

How equity financing shaped the BTC per-share picture

Alongside the purchase, Strive disclosed proceeds from warrant exercises. The filing states the company received approximately $369 million from warrant exercises on Oct. 12 and Oct. 13, resulting in the issuance of 13.7 million common shares.

Strive also described the relationship between its changing equity base and its expanding bitcoin position. The company said its effective share count increased by 12.4%, which closely matched the 12.3% increase in bitcoin holdings. As a result, the firm reported that BTC per share remained largely unchanged.

That synchronization is notable because it suggests Strive’s latest accumulation was supported by financing that did not dramatically dilute the company’s BTC exposure on a per-share basis. For shareholders, this can be a key metric when comparing treasury growth programs across different corporate structures.

Ranking among corporate bitcoin holders

With 36,818 BTC, Strive is now described as the fourth-largest publicly traded corporate holder of bitcoin, according to BitcoinTreasuries.net. The company’s reserves were valued at roughly $3 billion based on the tracker’s figures.

Bitcoin treasury rankings are important because they often influence investor perception of how much “institutional-style” bitcoin exposure is available through public markets. They also provide a rough map of competition among corporate accumulators—particularly when filings and on-chain activity show continued capital deployment.

In the same broader landscape, BitcoinTreasuries.net data contrasted Strive’s accumulation with reported activity from other large holders. The article noted that MARA had been reported to be selling some holdings, with Arkham tracking wallets tied to the miner depositing around $82 million worth of bitcoin into Binance and Gate in recent days, as referenced in the source coverage.

Prior buying pace and the role of new preferred share funding

This purchase follows a run of larger BTC additions by Strive. Earlier coverage referenced in the report described a prior week purchase of 3,311 bitcoin, during which Strive’s holdings grew 11.2% and outpaced a 9.4% increase in its effective common share count. Together, these updates suggest a steady cadence rather than isolated spot buys.

Financing mechanisms appear to be central to that pace. Last week, Strive announced the launch of SATS, a preferred stock issue carrying a fixed 15% annual dividend. The dividend is payable each business day beginning Nov. 9, subject to board approval. The company priced a $630 million offering of the new preferred shares, and the report said proceeds could be used to fund additional bitcoin purchases.

For market participants, the combination of warrant-driven dilution and preferred-share financing may help explain how Strive continues to scale its treasury. It also raises a practical question readers will likely monitor: whether the company continues to keep BTC-per-share relatively stable while its total holdings expand—or whether the cost of capital and share issuance begins to change that balance over time.

Looking ahead, the next signals to watch are whether Strive’s post-SATS funding results in further confirmed BTC purchases in subsequent SEC disclosures, and whether competitors’ flows—such as reported transfers tied to other miners—continue to shift the relative rankings of corporate bitcoin holders.

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