Strive bought 2,000 Bitcoin between Sept. 28 and Oct. 2 at an average price of roughly $84,422 per coin, its largest purchase in four months, according to a filing with the SEC. The acquisition works out to approximately $169 million.

The purchase lifts the publicly traded company's total holdings to 29,462 Bitcoin as of Oct. 2. At the roughly $86,000 where Bitcoin traded on Monday, that stash is worth about $2.5 billion. It marks Strive's biggest haul since it accumulated 2,500 BTC between May 23 and June 1, a buying streak that lifted its total to 19,000 coins.

The filing puts Strive's average cost at $90,170 per Bitcoin at the end of September, above the roughly $86,000 level where BTC changed hands on Monday. On paper, the position is therefore worth less the company paid for it. That average cost is the figure watchers of treasury companies track, since it determines whether a company's stack is in paper profit at any given Bitcoin price.

The market has moved higher since the summer. Last week's average purchase price was about 41% above the level recorded on July 2, and the dollar value of Strive's holdings has climbed 48% since that date.

A Bitcoin treasury company

Strive is what is known as a Bitcoin treasury company — a business that raises money from investors and parks it in Bitcoin instead of cash. The model was pioneered by Strategy, which sits first among public Bitcoin holders and began buying in 2020. In September 2025, it agreed to buy Semler Scientific, a healthcare technology firm sitting on roughly 5,000 Bitcoin, and its stack has grown steadily since.

Shareholders approved the deal in January, creating a combined stash of about 12,800 BTC. By late April, Strive held 14,557 Bitcoin, and by mid-August the total had reached 20,246 BTC, according to an SEC filing.

How the purchases are funded

The latest filing does not say how this week's purchase was financed. In recent weeks, however, Strive has raised most of its capital by selling SATA, a type of preferred stock — a share that pays holders a regular dividend, meaning a cash payout, ahead of ordinary shareholders.

SATA supplied 70% of capital in the week ending Sept. 4 and 85% in the week ending Sept. 25. Each share carries a $100 stated amount, and Strive currently pays about 13% a year. The rate is adjustable, and the company said it would begin paying dividends every business day on June 16.

In plain terms, investors hand Strive cash, and the company currently pays about $13 a year for every $100 share. Because Bitcoin pays no interest, those dividends must be covered by Strive's cash reserves or by raising additional funds. The filing lists $284.7 million in cash and no debt.

Where Strive stands

For readers new to crypto, the setup is simple: Strive's stock, which trades on Nasdaq, offers Bitcoin exposure through a regular brokerage account, while SATA pays a dividend and is issued by a company holding nearly 30,000 Bitcoin.

Strive ranks fifth among public Bitcoin holders, behind Strategy, Twenty One Capital, Metaplanet and MARA, according to Bitcoin Treasuries. Twenty One holds 43,514 Bitcoin, and Strive is now 14,052 coins short of that total. Future SEC filings are where Strive discloses each purchase window and average price, and the adjustable SATA rate shows what the company is currently paying to fund its buying — the details to watch going forward.