Strive Hits 25,000 Bitcoin After Another $36.6 Million Buy

Strive has added another 469 Bitcoin to its balance sheet, taking the company’s total holdings to an even 25,000 BTC.

The purchase cost roughly $36.6 million and was completed at an average price of $77,954 per Bitcoin, including fees and expenses. That is a meaningful addition even by the increasingly aggressive standards of public-company Bitcoin accumulation.

Decrypt reports that Strive bought the coins between September 8 and September 11. The latest transaction lifted its holdings from 24,531 BTC to precisely 25,000 BTC, putting a clean milestone on a treasury strategy that has expanded quickly over the past several months.

The company paid an average of $77,954 per coin during that four-day window. At the time of the report, Strive ranked among the five largest publicly traded corporate Bitcoin holders, behind much bigger treasuries including Strategy and MARA.

Strive shares also rose more than 7% on Monday as investors absorbed the purchase and the company’s latest financing mix. That market response matters because Strive’s ability to keep buying Bitcoin depends partly on demand for the securities it sells to raise capital.

Strive chairman and CEO Matt Cole published the key figures directly:

Strive acquired an additional 469 $BTC for $36.6M at an average cost of $77,954 per bitcoin, bringing total holdings to ₿25,000.

100% of the capital raised came from SATA, which now has over $1B notional outstanding.
We increased amplification ratio to 53.5%.$ASST $SATA pic.twitter.com/Nu3EYIBS4R

— Matt Cole (@ColeMacro) September 14, 2026

SATA did all the funding work this time

The more interesting detail is how Strive paid for the purchase. Cole said 100% of the capital raised for the latest buy came from SATA, Strive’s variable-rate perpetual preferred stock.

SATA has now crossed $1 billion in notional value outstanding.

Bitcoin Treasuries reviewed the filing and found that outstanding SATA shares increased by 402,541 during the period, taking the stated notional total to roughly $1.04 billion. Common-stock issuance barely changed, while cash and cash equivalents still increased from $202.6 million to $204.2 million after the Bitcoin purchase.

The filing also showed Strive continuing to hold 505,000 shares of Strategy’s STRC preferred stock. A week earlier, SATA had supplied 70% of the capital for a much larger 1,375-BTC purchase; moving to 100% this time makes the latest financing mix unusually clean.

That financing mix matters. Strive is trying to grow its Bitcoin holdings through long-duration preferred equity instead of relying primarily on debt or issuing large amounts of common stock every time it buys.

The company says that structure leaves its Bitcoin unencumbered and avoids the margin-call risk that can come with secured borrowing.

Cole had flagged the approaching preferred-stock milestone one day earlier:

The first billion’s the hardest. pic.twitter.com/1EDYiZ10TD

— Matt Cole (@ColeMacro) September 13, 2026

A bigger Bitcoin treasury brings a bigger funding test

Strive’s stated amplification ratio rose to 53.5%, meaning preferred capital is doing more of the work relative to common equity. SATA currently carries a 13% annualized dividend paid each business day, so the structure is not free money.

It creates a continuing cash obligation that must be weighed against the value and performance of the Bitcoin treasury.

At the same time, the latest filing shows why companies find this approach attractive when the preferred shares can be issued near par. Strive added nearly $37 million of Bitcoin, preserved a sizable cash position, and issued very little new common stock during the week.

The round 25,000-BTC total will grab the headline. The lasting question is whether SATA can keep trading well enough for Strive to repeat this funding cycle without putting too much pressure on its cash flow.

For now, the company has cleared two milestones at once: $1 billion of preferred notional and 25,000 Bitcoin on the balance sheet.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.