Strive Adds 1,109 BTC, Lifting Bitcoin Treasury to 16,500 BTC
Strive, Inc. (NASDAQ: ASST) has purchased an additional 1,109 Bitcoin, taking its total holdings to 16,500 BTC.
The company disclosed the purchase in an 8-K filed May 26, saying it spent about $85.4 million at an average price of roughly $76,989 per Bitcoin. The move places Strive seventh among publicly traded companies by Bitcoin holdings. For a firm that only took its current shape after a reverse merger completed in 2025, the pace of accumulation has been rapid.
According to the filing, the buys were executed across multiple days from May 19 to May 22 rather than as a single block trade, a structure often used to reduce market impact while still acquiring meaningful size. The latest tranche follows earlier May purchases of 382 BTC and 444 BTC. Before the May activity began, Strive held 15,391 BTC.
CEO Matt Cole confirmed the transaction on social media, reiterating Strive's view of Bitcoin as a core reserve asset rather than a purely speculative balance-sheet position.
To finance its ongoing accumulation, Strive relies on a mix of preferred equity, common stock issuance, and strategic mergers. A key funding vehicle is its Variable Rate Series A Perpetual Preferred Stock, trading under ticker SATA. The company recently reset SATA's dividend to 13%, a high yield aimed at drawing income-oriented investors who effectively help fund Bitcoin purchases.
Strive has also signaled plans to launch new at-the-market (ATM) programs for both its Class A common stock and SATA preferred shares. These facilities would allow the company to sell shares into the market opportunistically, creating a recurring source of capital for future Bitcoin acquisitions.
Management has framed the strategy around maximizing Bitcoin held per share, a metric intended to show whether the accumulation program benefits existing shareholders or simply increases dilution.
Strive was formed in 2025 through a reverse merger between Strive Asset Management and Asset Entities (ASST), a deal structure that provided immediate access to public markets and scalable capital raising. Cole's firm markets itself as a Bitcoin treasury company, meaning the business model is centered on acquiring and holding Bitcoin, in contrast to companies such as Tesla where Bitcoin has represented a relatively small balance-sheet position.
For investors, the 13% dividend on SATA is a fixed obligation that must be serviced regardless of Bitcoin price performance. A prolonged drawdown could leave the company paying elevated dividends while holding depreciated assets. Preferred holders rank ahead of common shareholders, which can shift downside risk to the common equity. Investors using ASST as a Bitcoin proxy are taking leveraged exposure coupled with corporate credit risk, not a direct, pure play on Bitcoin's spot price.
