Bitcoin treasuries are loading up again. Publicly traded companies Strategy and Strive disclosed combined purchases of more than 2,700 bitcoin last week, according to announcements made on Monday, September 28, 2026. Treasury companies — firms that hold bitcoin on their balance sheets as a core reserve asset — have become one of the most closely watched channels for institutional exposure to the asset, which is why each week's disclosures are monitored for signs of whether the buying trend is building or fading.

Strategy, the largest corporate holder of bitcoin, announced Monday that it had bought 1,665 coins over the past week for $142.7 million — its second consecutive weekly purchase after a brief hiatus from buying. The Nasdaq-listed company added that it had also bought back $152 million of its preferred stock, STRC. Preferred shares sit ahead of common equity in a company's capital structure and typically carry fixed dividend obligations, making their terms a central piece of how treasury firms fund coin purchases and service the capital behind them.

According to a Form 8-K filing with the Securities and Exchange Commission (SEC), Strategy now holds 847,666 bitcoins worth $70.5 billion. A Form 8-K is the filing public companies use to disclose material events, which makes the figure an official tally with regulators rather than an estimate.

Elsewhere, Strive — the fifth-biggest bitcoin treasury — said it had snapped up 1,107 BTC for a total cost of $94.5 million over the same week, bringing its total holdings to 27,462 coins.

Bitcoin Magazine reported the combined totals in a post on X:

JUST IN: Public companies Strategy and Strive bought a combined 2,773 Bitcoin worth $232.5 million.
Strategy: 1,666 BTC
Strive: 1,107 BTC
pic.twitter.com/UNoUsxbaju

— Bitcoin Magazine (@BitcoinMagazine) September 28, 2026

Source: https://x.com/BitcoinMagazine/status/2104542645557018722?ref_src=twsrc%5Etfw

The purchases show that some of the largest treasuries are still stacking coins even though the bitcoin treasury model has taken a hit. The playbook was pioneered by Strategy, which began accumulating bitcoin as its primary treasury reserve asset in 2020, and was later adopted by public companies across a range of industries. Major treasuries such as Strategy, Satsuma, Smarter Web Company, Sequans, Nakamoto, and Empery Digital have all sold bitcoin this year to repay debt, fund operations, or finance buybacks, while others have folded or pivoted to AI infrastructure as their share prices collapsed. Because the model relies on continued access to capital markets to keep buying, equity performance and preferred-share terms are watched almost as closely as the coin counts themselves.

Strategy stock (MSTR) has lost more than 50% of its value over the past year, while Strive (ASST) is down by more than 30% over the same period. Treasury stocks often trade at a premium or discount to the value of the bitcoin on their balance sheets, a gap investors track to gauge how the market is pricing each firm's approach.

Still, both Strategy and Strive have reassured investors that it is business as usual and that bitcoin will bounce back.

Strive CEO Matt Cole has repeatedly said that the company is debt-free, with zero margin requirements and zero encumbered bitcoin, calling it a balance sheet built to thrive through volatility.

Strategy, meanwhile, has defended having to sell bitcoin this year with CEO Phong Le saying the company now has a "bullet-proof balance sheet" because of the sales and that it was the "right trade at the time" to sell when it did.

The software company also announced last week that it plans to pay investors daily dividends on four of its preferred stocks — STRF, STRC, STRK, and STRD. Daily payouts give preferred holders a steadier income stream while the company manages the fixed obligations attached to the instruments it uses to fund its bitcoin accumulation.

Bitcoin's price recently stood at close to $83,409, down 3% over the past week, according to Bitcoin Magazine's price tracker. Whether the renewed buying extends into next week's disclosures — and how treasuries weigh further purchases against debt repayments and dividend commitments — will be among the clearest signals of where the sector's balance-sheet experiment goes from here.

This article first appeared on Bitcoin Magazine and was written by Mathew Di Salvo. Source: https://bitcoinmagazine.com/news/strategy-strive-buy-more-bitcoin