Strive CEO Matt Cole said Wednesday that the bitcoin treasury company could potentially end 2026 as the world’s second-largest public bitcoin holder after adding 3,156 BTC to its balance sheet in August alone. Cole called the outcome possible rather than his base case, pointing to more than $700 million in outstanding Strive (ASST) warrants expiring in mid-October. If Strive’s shares move above the $27 exercise price, the conversion could provide hundreds of millions of dollars for additional bitcoin purchases and roughly another $700 million of capacity for digital credit, totaling about $1.4 billion in potential buying power.
Strive currently holds 23,156 BTC worth nearly $1.9 billion, making it the fifth-largest publicly traded bitcoin treasury after passing Bullish last week. The number two spot belongs to Twenty One Capital with 43,514 BTC. With 17 weeks left in the year, Strive would need to buy roughly 1,200 BTC per week to surpass Twenty One, assuming no new purchases by that competitor, which has not added bitcoin since July 2025. Cole also predicted bitcoin could rise above $500,000 by 2030, while noting Strive’s balance sheet does not depend on that outcome.
Broader crypto markets strengthened Thursday as Bitcoin reclaimed the $80,000 level, trading near $80,982 after a nearly 5% gain in 24 hours. Strategy Inc. shares rose more than 15% to trade above $142.09, while Coinbase Global Inc. climbed more than 10% to above $193. Federal Reserve Governor Christopher Waller’s inclination to hold interest rates steady supported risk appetite amid lower Treasury yields and a weaker dollar. Strategy also announced an AI Transformation Forum with Google Cloud, a seven-city executive series launching this fall.
Other gainers included Circle Internet Group, up more than 15%, and Robinhood Markets, up more than 15% after a Morgan Stanley price-target increase. Ethereum rose 4.5% to $2,497.93, while XRP gained about 9% to $1.45. The rebound lifted crypto-linked equities and reinforced positive sentiment around bitcoin-focused treasury strategies.
