Strive Adds 15,124 BTC in October, Closing In on No. 2 Corporate Bitcoin Treasury Spot
Key Takeaways
- •Strive bought 15,124 BTC in October, lifting its 2026 purchases to 35,497 BTC and its total holdings to 43,124 BTC as of Oct. 30.
- •The October purchase exceeded both the 390 BTC gap to third-place Twenty One Capital and the 877 BTC gap to second-place Metaplanet, meaning future holdings disclosures could reorder the corporate rankings.
- •Strive raised approximately $609 million in net proceeds through an October offering of SATS perpetual preferred stock that carries a 15% annual dividend obligation, and it has not specified how much will go toward Bitcoin purchases.
- •Third-quarter net income of $509 million was driven largely by $533.7 million in unrealized Bitcoin gains, reflecting market value changes rather than completed sales.
- •Strive shares fell 1.97% to $20.19 in early Friday trading, extending their one-month decline to 32.15%, contrasting with the growth of its Bitcoin holdings.
Bitcoin treasury company Strive purchased 15,124 Bitcoin (BTC) in October, lifting its total purchases for the first 10 months of 2026 to 35,497 BTC, according to its third-quarter earnings report released Friday. The buying moved the company closer to the top of the corporate Bitcoin treasury rankings.
According to the report, Strive held 43,124 BTC as of Oct. 30, making it the fourth-largest publicly traded corporate Bitcoin holder based on BitcoinTreasuries.NET data. It trails third-place Twenty One Capital by just 390 BTC and would need another 877 BTC to surpass second-place Metaplanet, which holds 44,000 BTC, assuming neither company increases its holdings. For scale, October's 15,124 BTC purchase alone exceeds both margins, meaning subsequent holdings disclosures from any of the companies involved could reorder the standings.
The October accumulation follows comments by CEO Matt Cole, who said in a September interview that the company could become the world's second-largest publicly traded corporate Bitcoin holder by year-end, although he acknowledged that the outcome was not his base-case scenario.
Strive also raised approximately $609 million in net proceeds through an October offering of its SATS perpetual preferred stock, which carries a 15% annual dividend rate. That dividend represents a recurring payout obligation regardless of how the capital is deployed, and the company has not specified how much of the proceeds it will allocate to Bitcoin purchases.
Strive reported $509 million in third-quarter net income, driven largely by $533.7 million in unrealized Bitcoin gains. Because those gains are unrealized, the quarter's reported profit reflects changes in the market value of the company's holdings rather than completed sales.
Banking and DeFi expansion
According to the earnings report, Strive is also evaluating opportunities in banking, brokerage, decentralized finance, reinsurance and tokenization as part of a broader strategy to leverage its balance sheet. Jeff Walton, Strive's chief risk officer, told Cointelegraph that the company is looking beyond cryptocurrency markets for ways to put its Bitcoin holdings to work.
"We believe that some of the bigger opportunities are crossing the aisle into traditional finance, operating as a structured finance company, and finding yield and distribution that is not correlated to Bitcoin or crypto," Walton said.
Shares of Strive (ASST) fell 1.97% to $20.19 in early trading Friday, extending their decline over the past month to 32.15%, according to Yahoo Finance data at the time of writing — a slide that contrasts with the October growth of the company's Bitcoin holdings.
