Last week Strive purchased 2,000 Bitcoin, marking its largest single acquisition in four months. The company’s SEC filing shows it paid an average of around $84,422 per coin during the period stretching from Sept. 28 through Oct. 2. The total came to roughly $169 million.
The timing could not be better for hodlers. Last week’s average price was about 41% above the July figure, and Strive’s holdings are up 48% in dollar amounts since July 2. Holdings now stand at 29,462 Bitcoin as of Oct. 2. At an average price of roughly $86,000 per coin, that’s about $2.5 billion.
How Strive Builds Its Stack
A Bitcoin treasury company is a firm that gathers funds from investors and holds them in Bitcoin rather than cash. Strive fits that description, and in September 2025, it reached an agreement to take over Semler Scientific, a healthcare technology firm holding around 5,000 Bitcoin. That was the start of a run of acquisitions that kept adding more Bitcoin to its holdings.
The shareholders gave their consent to the arrangement in January, which brought together a combined pile of around 12,800 BTC. By late April, Strive had taken hold of 14,557 Bitcoin. Come mid-August, its holdings stood at 20,246 BTC.
The last biggest buys have come in this order:
- 2,500 Bitcoin between May 23 and June, which lifted Strive’s total to 19,000.
- The new purchase of 2,000 Bitcoin between Sept. 28 and Oct. 2, the largest since then.
Where the Money Comes From
This week’s funds were not sourced in the filing. Rather, Strive has gathered most of its recent revenue through the sale of SATA, a kind of preferred stock, which is a share that delivers holders a regular dividend—meaning a cash payout—before ordinary shareholders receive any.
In the week ending Sept. 4, SATA provided 70% of capital, while in the week ending Sept. 25, it supplied 85%. Each share comes with a stated amount of $100, and at present Strive pays roughly 13% annually. That rate can be changed, and the company announced at the time that it would begin paying dividends every business day starting June 16.
Plainly put, investors give Strive money and Strive now hands out roughly $13 annually for each $100 share held. Since Bitcoin produces no income, these payments must be drawn from Strive’s own funds or from bringing in more capital. The filing shows $284.7 million on hand with no debt listed.
What the Numbers Mean
By the close of September, Strive’s average cost per Bitcoin stood at $90,170, which sits above the roughly $86,000 level where Bitcoin traded Monday. In theory, the position now counts for less than what Strive paid to acquire it.
The humor comes from the fact that a firm built on purchasing Bitcoin has just secured its largest purchase in four months, with the very coins involved selling for less than what they traded for at the moment the arrangement was sealed.
How Strive Stacks Up
Bitcoin Treasuries places Strive at number five among public holders of the cryptocurrency, ranking it below Strategy, Twenty One Capital, Metaplanet and MARA. Twenty One Capital sits atop the list with a total of 43,514 Bitcoin, while Strive trails behind by just 14,052 coins.
Why This Matters Now
Hodlers’ hopes have been met by the market’s movement. Strive’s existing holdings have grown in value despite the additional coins it acquired, with the rise spanning the gap between July and last week.
It works out well for them. Firms such as Strive depend entirely on the direction of Bitcoin, and when that market rises, it becomes simpler to make their business case to fresh investors.
The Bottom Line
Just now, Strive has purchased the largest amount of Bitcoin it has in four months. The price paid per coin averaged $84,422, while the current trading value sits below that figure.
The numbers on paper do not show a loss, since the average cost remains under the current price. Still, it serves as a reminder that holding cryptocurrency is a wager on what comes next, not a promise of gain.
The firm holds $284.7 million in cash with no debt attached to it. That position allows for ongoing purchases, even as the SATA funding approach relies on investor interest in a share that promises a set dividend payout.
If you’ve never traded crypto before, the setup is straightforward. Strive’s stock, which trades on the Nasdaq, allows you to wager on Bitcoin through a regular brokerage account, whereas SATA pays a dividend and comes from a company holding nearly 30,000 bitcoin.
Whether that pairing succeeds or fails will be determined by the market over the next several months.
Source material: “Strive Adds $169M Bitcoin in Its Biggest Buy in Four Months,” Decrypt.
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