Strive acquired 1,375 BTC for approximately $109 million between Aug. 31 and Sept. 4, paying an average of $79,281 per Bitcoin, CEO Matt Cole said. The purchase increased the Nasdaq-listed asset manager’s total Bitcoin holdings to 24,531 BTC, worth roughly $1.9 billion at current prices.

Cole said 70% of the capital raised by Strive last week came through SATA, its Variable Rate Series A Perpetual Preferred Stock. SATA now has $999 million in notional value outstanding, bringing the preferred-stock fundraising program close to the $1 billion mark.

Strive is among a growing group of public companies raising capital specifically to purchase and hold Bitcoin. Strategy, led by Michael Saylor, pioneered the approach in 2020. Strive, Twenty One Capital and dozens of smaller companies have since adopted similar Bitcoin treasury strategies.

Cole detailed the purchase and funding mix in a post on X:

Strive acquired an additional 1,375 BTC for $109M at an average cost of $79,281 per bitcoin, bringing total holdings to ₿24,531. 70% of the capital raised last week came from $SATA , which now has $999M notional outstanding. Time to break the billion-dollar wall. $ASST $SATA pic.twitter.com/qjjykekHTk — Matt Cole (@ColeMacro) September 8, 2026

https://x.com/ColeMacro/status/2097295352051401160

SATA is a preferred-stock class that pays a fixed dividend, currently 13% annually, rather than directly tracking Bitcoin’s price movements. Its $999 million in notional value represents the combined face value of shares sold, not cash held by the company.

Strive’s preferred-stock structure is designed to raise capital without relying solely on debt or issuing additional common stock. The company sells SATA shares near their $100 face value, uses the proceeds to buy Bitcoin and pays preferred holders a dividend.

The structure also carries risks. Strategy’s STRC preferred stock fell substantially below its $100 mark this year as Bitcoin declined, and Strategy sold Bitcoin for the first time since 2022 specifically to cover the dividend. SATA remained closer to par over the same period, although the mechanism has not yet been tested by a downturn as deep as Strategy’s, according to the source report.

Strive Chief Risk Officer Jeff Walton said the latest purchase marked the company’s third consecutive week of more than 5% growth in its Bitcoin holdings. The company’s holdings increased 5.9% week over week, from 23,156 BTC to 24,531 BTC. Over the past three weeks, the holdings increased 21.1%, from 20,245 BTC to 24,531 BTC.

Walton described the pace in a companion post on X:

Strive increased gross BTC holdings by 5.9% week over week (23,156 > 24,531). Third consecutive week of 5%+ WoW change in holdings. In the last three weeks, we have increased our Bitcoin stack by 21.1% (20,245 > 24,531). $999M of $SATA outstanding & scaling — Jeff Walton (@PunterJeff) September 8, 2026

https://x.com/PunterJeff/status/2097296918338793902

Strive’s Bitcoin holdings remain below those of Twenty One Capital, the Tether-backed company that holds roughly 43,500 BTC and ranks as the second-largest public Bitcoin treasury behind Strategy. The difference between the companies’ holdings is approximately 19,000 BTC. Closing that gap during the remaining 16 weeks of 2026 would require Strive to acquire roughly 1,200 BTC per week, a pace the company has reached only during its most aggressive recent stretches.

According to data from Bitcoin Treasuries, Strive is currently the world’s fifth-largest corporate Bitcoin treasury, ahead of companies including SpaceX, Coinbase and Trump Media and Technology Group.

Strive did not operate as a Bitcoin-focused company a year ago. It went public in September 2025 through a merger with Asset Entities. The company subsequently added approximately 5,048 BTC through its acquisition of Semler Scientific, a medical-device maker that had accumulated its own Bitcoin holdings.

Since then, Strive, which was co-founded by Vivek Ramaswamy, has purchased Bitcoin almost every week. Ramaswamy is a former presidential candidate who is now running for governor of Ohio. Strive has funded its purchases through a combination of common stock and SATA.

During the crypto winter, Strive reported a $265.9 million net loss in the first quarter, driven almost entirely by a paper loss on its Bitcoin holdings after the cryptocurrency’s price declined. ASST shares had fallen 86% from a post-merger high of $130 by mid-May before rebounding as Bitcoin recovered. Strive has also introduced daily dividend payments on SATA to make the preferred stock more attractive to buyers.

Despite the Bitcoin purchase, Strive’s cash position increased last week from $183.5 million to $202.6 million. Cole has also pointed to more than $700 million in outstanding warrants that could provide as much as $1.4 billion for future Bitcoin purchases.

Cole’s original post on X is available here: https://x.com/ColeMacro/status/2097295352051401160

Walton’s companion post is available here: https://x.com/PunterJeff/status/2097296918338793902