Strive Hits 25,000 BTC With $36.6M Preferred Stock Purchase

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Strive, Inc. picked up another 469 bitcoin and landed on exactly 25,000 BTC, a round number the NASDAQ-listed asset manager had clearly been working toward.

A $36.6 million week

The buying took place between September 8 and September 11, 2026, and cost roughly $36.6 million at an average price of $77,954 per coin.

Every dollar of it came from Strive’s Variable Rate Series A Perpetual Preferred Stock, known internally as SATA, without a single common share being issued.

That leaves SATA’s outstanding notional value above $1.04 billion, spread across 402,541 shares carried at a $100 stated value each.

Financing through preferred instruments lets the company keep stacking without diluting the shareholders who already own a piece of the business.

CEO Matt Cole pointed to the firm’s “amplification ratio,” a measure of how much bitcoin exposure shareholders get relative to net asset value, which now sits at 53.5%.

From the Semler merger to the top tier

A week earlier Strive held 24,531 BTC, and the company has settled into a rhythm of weekly or bi-weekly purchases.

Its turn toward bitcoin came with the January 2026 merger with Semler Scientific, which dropped 5,048 BTC onto the balance sheet in one transaction.

The pace has not let up since. Strive took in 1,800 BTC in late August and another 1,375 BTC in early September before this latest tranche.

Going from almost nothing to 25,000 BTC in under two years puts the firm among the largest publicly traded corporate holders of the asset.

Strive trades under the ticker ASST and was co-founded by Vivek Ramaswamy, who ran for president in 2024 and originally pitched the company as an anti-ESG challenger in asset management.

What the preferred stock carries

Preferred shares come with obligations that common equity does not, including potential dividend or redemption requirements depending on the terms.

With SATA past $1.04 billion in notional value, a sustained drawdown in bitcoin’s price would shrink the treasury while leaving those obligations exactly where they are.

Source: bitbo.io