Strive, the Nasdaq-listed Bitcoin treasury company, has added $335 million worth of Bitcoin to its reserves, lifting total holdings to 36,818 BTC and strengthening its position among the largest publicly traded corporate holders of the asset.

The company purchased 4,045 BTC between October 12 and October 16, 2026, at an average price of $82,803 per coin. The transactions mark the latest step in Strive's aggressive accumulation strategy, which has been funded largely through equity financing — a pattern that reflects a broader corporate trend of public companies raising capital to build Bitcoin treasuries on their balance sheets.

Strive Moves Ahead of MARA in Corporate Bitcoin Rankings

The purchases have moved Strive past MARA Holdings to become the fourth-largest publicly traded corporate Bitcoin holder. Its cryptocurrency reserves are now estimated to be worth approximately $3 billion.

The buying took place in two stages. Strive first acquired 2,822 BTC for roughly $235 million on October 12 and 13, lifting its holdings to 35,595 BTC — just above MARA's reported reserves of 35,577 BTC. It then purchased an additional 1,223 BTC between October 14 and 16 for approximately $100 million, paying an average of $81,734 per Bitcoin, including transaction expenses.

The corporate ranking race took shape after Strategy (formerly MicroStrategy) began buying Bitcoin as a primary treasury reserve asset in 2020, a move that spawned a cohort of publicly listed holders whose disclosures are now tracked as competitive benchmarks.

Equity Financing Backs the Accumulation

Strive has continued to tap capital markets to fund its Bitcoin expansion. On October 12 and 13, the company generated $369 million through warrant exercises, issuing roughly 13.7 million common shares. Warrant exercises deliver cash directly to a company's balance sheet when holders convert the instruments into shares at predetermined terms.

As a result, the effective share count rose 12.4% while Bitcoin holdings grew about 12.3% over the same period, keeping the amount of Bitcoin backing each effective share relatively stable despite the substantial treasury expansion — a metric investors in Bitcoin treasury companies typically track to judge whether share issuance is diluting per-share exposure.

The company has also recently priced a $630 million preferred stock offering under its SATS program. The securities carry a fixed 15% annual dividend, with payments scheduled to begin on November 9, subject to board approval. Proceeds from the offering could support additional Bitcoin acquisitions and other corporate activities, although Strive has not committed the entire amount to cryptocurrency purchases.

Opportunities and Risks in Corporate Bitcoin Strategies

Strive's latest acquisitions underscore the growing role of capital markets in financing corporate Bitcoin treasuries, with companies pursuing similar strategies increasingly relying on stock offerings and other financial instruments to expand their cryptocurrency exposure.

The approach, however, introduces risks beyond Bitcoin price volatility. Additional share issuance can dilute existing shareholders, while preferred stock dividends create ongoing financial obligations. Strive's continued expansion will depend in part on its ability to secure financing while maintaining shareholder value, as corporate Bitcoin ownership continues to evolve into a competitive institutional investment strategy.

Among the next developments to watch are how Strive deploys the remaining SATS proceeds and whether dividend payments begin as scheduled on November 9.

Source: CryptoMeter io via Cointelegraph