Bitcoin coin in an institutional vault representing Strive reaching 27,462 BTC

Strive Adds 1,107 Bitcoin as Its Treasury Climbs to 27,462 BTC

By Isaac • September 28, 2026 3:09 pm • Comments

Strive has added another 1,107 Bitcoin to its balance sheet, taking the company’s total holdings to 27,462 BTC and putting fresh daylight between it and most public-company Bitcoin treasuries.

The company spent approximately $94.5 million on the purchase, according to its latest disclosure. That works out to an average price of $85,396 per Bitcoin, including fees and expenses, for coins acquired between September 21 and September 25.

Decrypt reports that the deal kept Strive in fifth place among publicly traded Bitcoin holders. The company remains behind Strategy, Twenty One, Metaplanet and MARA, but the gap is no longer academic: Strive has openly discussed climbing toward second place by the end of 2026.

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Chief Executive Matt Cole posted the exact purchase figures and offered a second detail that matters just as much as the Bitcoin total. Warrant exercises brought in another $12.4 million, while the company’s SATA preferred stock supplied 85% of the capital raised during the period.

The 1,107-Bitcoin addition followed a larger 1,355-BTC purchase one week earlier, showing that the company is treating its treasury build as a sustained program rather than a one-time trade. Strive’s common shares were little changed Monday even as Bitcoin traded near a one-week low.

To reach the second-place target at today’s published-company rankings, Strive would need to close a gap of more than 16,000 BTC with Twenty One. That makes the pace and cost of future capital raises just as important as the headline size of any single weekly purchase.

That funding mix is the real engine behind the headline. Buying Bitcoin is the visible transaction.

Raising capital on terms that do not immediately force a common-stock sale is what determines whether the strategy can keep compounding without crushing existing shareholders.

The Strive Form 8-K confirms the 1,107-Bitcoin purchase, the $94.5 million aggregate price and the resulting 27,462-BTC treasury. It also shows that Strive ended the reporting period with $248.8 million in cash and cash equivalents, up from $229.6 million one week earlier despite the new Bitcoin purchase.

That does not make the strategy risk-free. Preferred securities carry dividend obligations, and the value of the entire capital structure remains tied closely to Bitcoin.

A sustained drop in BTC can pressure the common shares, complicate new financing and turn an aggressive acquisition plan into a much harder balancing act.

Still, Strive is trying to distinguish its model from the much larger Strategy playbook. During a Bitcoin Treasuries conference appearance Monday, Cole argued that Strive would need far less preferred-stock issuance than Strategy to maintain similar upside sensitivity if Bitcoin doubled.

Strive’s stated second-place ambition would require a much faster pace from here. With 13 full weeks left in the year, the company would need to add roughly 1,235 BTC per week to pass Twenty One’s current holdings, assuming that rival bought nothing else.

That makes this purchase meaningful, but not decisive. Strive is building one of the largest corporate Bitcoin positions in the world, and its financing machine is still producing fresh capital.

The next test is whether that machine can keep pace without becoming more expensive than the Bitcoin exposure it is designed to create.

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