Strive added 3,311 Bitcoin to its treasury between October 5 and October 9, raising its total holdings to 32,773 BTC, according to an October 13 SEC filing. The purchase was the largest in a recent series of acquisitions that accelerated in late September.

The filing also reported progress on warrant exercises and formalized a minimum issuance price for SATA, the company’s perpetual preferred stock.

Strive’s Bitcoin Treasury Reaches 32,773 BTC

Strive bought the latest 3,311 BTC at an average price of approximately $84,500 per Bitcoin, including fees and expenses. The estimated cost of the transaction was about $279.78 million.

The company’s holdings increased from 29,462 BTC on October 2 to 32,773 BTC on October 9. The latest purchase was the largest in Strive’s recent buying run. Earlier acquisitions included 1,462 BTC on October 2, 539 BTC on September 30, 1,107 BTC on September 25, 1,355 BTC on September 18 and 469 BTC on September 11.

Including the latest transaction, those six purchases totaled 8,243 BTC at a combined cost of approximately $687.4 million.

Strive began its Bitcoin treasury strategy in September 2025 with 69 BTC obtained through a merger-related exchange with Asset Entities. The company made its first large direct purchase, approximately 5,816 BTC, during the same month. That trajectory places Strive among the publicly traded companies that have adopted Bitcoin as a primary treasury reserve asset, a model in which accumulation typically unfolds through recurring securities offerings and regulatory disclosures rather than a single transaction.

Holdings Valued at Approximately $2.697 Billion

At a Bitcoin price of $82,300 on October 9, Strive’s 32,773 BTC holdings were worth approximately $2.697 billion. That market price was below the roughly $84,500 average paid for the most recent purchase.

The 3,311 BTC acquired during the week had an estimated value of about $272.5 million on October 9, approximately $7.3 million less than the company’s purchase cost. The gap shows how a treasury’s reported value can sit below its acquisition cost when the average price paid exceeds the prevailing market price at the measurement date.

Strive reported $310.3 million in cash and cash equivalents on October 9, up from $284.7 million a week earlier. The cash balance increased by $25.6 million during the same week that the company spent nearly $280 million on. The filing also showed changes in shares outstanding and preferred stock, but did not identify one specific funding source for the Bitcoin purchase.

The company continued to hold 505,000 STRC preferred shares, which had a fair value of $50.328 million as of October 9.

Warrants Worth $208 Million Exercised

Warrant holders had exercised approximately $208 million in warrants, while another $15.3 million remained outstanding ahead of a 5:00 PM ET deadline on October 13.

A warrant gives its holder the right to purchase shares at a predetermined price before it expires. When exercised, it provides cash to the issuing company. Strive’s warrants originated from its May 2025 financing, when the company announced a $750 million private investment in public equity, or PIPE, with the potential for up to an additional $750 million through warrant exercises.

Warrants that were not exercised by the deadline would expire, preventing Strive from collecting the remaining $15.3 million. The decision by holders would depend largely on the ASST share price relative to the warrant exercise price. With the filing itself dated October 13, the same day as the deadline, the final tally of warrant proceeds was set to be confirmed in later disclosures.

SATA Preferred Stock Gets a $100 Minimum Issuance Price

Strive also made the $100 minimum issuance price for SATA stock, its perpetual preferred security, a binding restriction in the company’s governing documents.

The minimum price had already been part of Strive’s stated approach. Its inclusion in the governing documents makes it a rule the company must follow and prevents Strive from issuing new SATA shares for less than $100 each.

The restriction limits the possibility of issuing new preferred shares at a discount to raise funds and dilute existing holders. The $100 level is now a formal threshold that Strive has committed not to cross for new SATA issuance.

Taken together, the filing captures the main moving parts of Strive’s treasury model in one update: a buying program that has scaled quickly since September 2025, warrant proceeds flowing from its 2025 PIPE, and preferred stock terms that now formally govern how future capital can be raised.

This article is for informational purposes only and does not constitute financial or investment advice.

Source: The Market Periodical