Strive just bought 1,800 Bitcoin for roughly 143 million USD, and the purchase quietly pushed the asset-management firm into fifth place among publicly traded corporate Bitcoin holders — ahead of the Bullish exchange and behind only the biggest names in the game.
By Sarah Park | August 31, 2026
The Hook: A Filing That Moves the Leaderboard
The news landed in a routine U.S. Securities and Exchange Commission Form 8-K filing submitted on Aug. 31. Between Aug. 24 and Aug. 28, Strive acquired 1,800 BTC at an average price of 79,431 USD per coin, including fees and expenses. That lifted the Dallas-based company’s treasury from 21,356 BTC to 23,156 BTC.
Chief executive Matt Cole confirmed the purchase in a post on X, writing that Strive had “acquired an additional 1800 BTC for 143M USD at an average cost of 79431 per bitcoin.” For ordinary investors, the significance is simple: another deep-pocketed public company is competing for the same fixed supply of Bitcoin that retail buyers are trying to accumulate.
On-Chain Evidence: Where Strive Now Ranks
According to BitcoinTreasuries.net data cited by crypto.news, the new balance puts Strive ahead of crypto exchange Bullish, which holds 22,000 BTC. The companies still above Strive on the corporate leaderboard are Strategy, Twenty One Capital, Metaplanet and MARA Holdings. At a Bitcoin price of roughly 76,400 USD — the level referenced in the report — Strive’s holdings were worth about 1.77 billion USD.
- 1,800 BTC — purchased between Aug. 24 and Aug. 28
- 79,431 USD — average price per coin, including fees
- 23,156 BTC — total treasury, up from 21,356 BTC a week earlier
- Fifth place — among publicly traded corporate Bitcoin holders
The buying is accelerating. One week earlier, Strive disclosed a purchase of 1,110 BTC for 81.5 million USD at an average of 73,409 USD per coin. Across the two reporting periods, the company acquired 2,910 BTC for approximately 224.5 million USD — and its average purchase price climbed as Bitcoin moved through the upper-70,000 USD range.
The Core Conflict: Shares for Coins
How does a company keep buying Bitcoin at this pace? Strive finances its purchases by selling stock. It uses two Nasdaq-listed securities — ASST common stock and SATA preferred stock — through at-the-market programs, which let sales agents issue shares gradually instead of running one giant offering. Think of it as a drip-feed fundraiser: a little equity sold every week, converted directly into Bitcoin.
The filing shows the machinery at work. Strive’s outstanding Class A common shares rose by 3.58 million during the week, from 79.89 million to 83.47 million, while its SATA preferred count climbed by about 803,099 shares to 9.07 million. SATA is a perpetual preferred security — it has no maturity date — carrying a 13% annualized dividend rate that Strive has paid in cash every business day since June.
That structure carries a real trade-off for shareholders: the company itself flags dilution from new ASST and SATA issuance as a risk. Common shareholders own what remains after senior claims and can be diluted as Strive sells more shares. SATA holders get priority for declared dividends but no direct claim on a fixed amount of Bitcoin. In June, Strive disclosed plans to add 2.1 billion USD of capacity to each program — up to 4.2 billion USD in possible new fundraising.
Market Implications: A Stronger Bid Under the Market
For the broader market, every corporate treasury purchase removes coins from circulating supply and adds a persistent, price-insensitive buyer. Strive’s buying continued straight through a period when Bitcoin traded well below its recent highs — a signal that corporate demand did not flinch. Bitcoin currently trades near 78,700 USD, according to the latest CoinGecko data, and Strive’s willingness to pay an average of 79,431 USD for its latest tranche shows where one deep-pocketed buyer sees value.
Notably, Strive’s balance sheet got healthier even while it spent. Cash and cash equivalents rose by 11.6 million USD during the week, from 171.9 million to 183.5 million. The company also holds 505,000 shares of Strategy’s STRC preferred stock, worth a reported 49.15 million USD, and earlier in August it retired all of its outstanding short- and long-term debt.
The Verdict: What This Means for You
If you already own Bitcoin, the takeaway is that institutional accumulation continues even in choppy conditions — fewer coins available for everyone else over time. If you are considering ASST or SATA instead of buying Bitcoin directly, understand exactly what you are getting: a leveraged, share-issuing play on Bitcoin’s price, with different rights for common and preferred holders. Do your homework on the dilution math before treating either ticker as a Bitcoin substitute.
The cryptocurrency market remains highly volatile. This article is for informational purposes only and does not constitute financial advice.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
1800 BTC at an average of 79,431 while everyone argued about whether we topped. Matt Cole just keeps buying, every single week
treasury went 21,356 to 23,156 in one shot and now theyre top five corporate holders. these treasuries compete with retail for the same fixed supply, people forget that
cole buys every week like clockwork and people still call the top every week. the 8-K cadence is more reliable than most analyst notes at this point
cole posting the exact average cost including fees in the 8-K while other treasuries report rounded numbers is a small flex i respect
1,800 BTC via an 8-K filing on a Sunday, that is the corporate treasury meta now. Fifth place ahead of Bullish is wild for a firm most people knew as an asset manager a year ago.
143M for 1800 coins works out to roughly 79k per BTC. Curious if they timed the fill or just market bought the whole clip.
8-K says 79,431 average including fees, so probably a negotiated block. doubt they swept the order book on a Sunday
1,800 coins filled over a weekend book without leaving a wick on the chart. whichever otc desk printed that block had a very quiet sunday
79,431 with fees in a week where btc sat around 78k looks like one clean otc block. some desk had a very good sunday
79,431 average while btc traded 78 and change most of that week. they are buying strength, not dip collecting. tells you what kind of buyer is on the leaderboard now
Corporate buyers like this never sell. They stack, announce, and stack more. Strange new era for bitcoin ownership but hard to argue with the price effect.
they never sell until they do. first real balance sheet crisis and that strategic reserve becomes collateral real fast
strive is an all cash spot buyer per their own filings though. the leveraged treasury comparison does not stick to them, cole has been loud about no loans no yield
cole doesnt do leverage though, every 8-K says spot only. the collateral spiral story needs a borrower and strive isnt one
their filings show steady accumulation without borrowed stacks. the ones worth worrying about are the publicly leveraged treasuries, strive is boring in a good way
boring is the whole pitch tbh. they run index style weekly buys on a balance sheet and somehow that became controversial
cole has been loud about all cash no leverage, so which part of the filing is the crisis risk? this is the least likely treasury on the list to get margin called
strive files as an all cash spot buyer, no leverage anywhere. the collateral spiral fear fits the leveraged copycats, not cole
23,156 BTC total and still behind the top four. Says more about how big those treasuries have gotten than anything about Strive slowing down.
1,800 coins a week while sitting behind Metaplanet tells you the gap to Strategy is basically one bad quarter of buys anyway. leaderboard math is fun
Every week another leaderboard shuffle. Strive passing Bullish shows the race is not just between MicroStrategy and the miners anymore.
Fifth place with only 1,800 coins tells you how top heavy the corporate holder list actually is. The gap to the top three is enormous.
1,800 coins and that makes fifth place now. when strive started nobody had them passing bullish on any leaderboard, the table compacted fast
23,156 BTC at one 8-K a week puts Strive ahead of Bullish already. At this cadence the leaderboard looks completely different by January.