Strive has expanded its Bitcoin treasury with its largest purchase in four months, acquiring 2,000 BTC for roughly $169 million between Sept. 28 and Oct. 2 at an average price of about $84,422 per coin, according to an SEC filing. The addition brings Strive's holdings to 29,462 BTC as of Oct. 2, up 48% since July 2, with $284.7 million in cash and no debt.
The filing also shows Strive's average cost was $90,170 per Bitcoin at the end of September, above the roughly $86,000 level where BTC traded Monday. The company ranked fifth among public Bitcoin holders, behind Strategy, Twenty One Capital, Metaplanet and MARA, with Twenty One Capital holding 43,514 BTC.
Strive CEO Matt Cole separately argued that his firm has become the leading contender to be the "fastest horse" in the next Bitcoin bull market. In a podcast appearance with Robin Seyr, he said the highest total returns would come from a high amplification ratio, the ability to maintain it, and not giving up Bitcoin upside. Strive's own tracker puts its amplification ratio at 51.4% from SATA preferred shares and no debt, while Strategy's is roughly 25%.
Cole predicted Bitcoin could reach $400,000 to $500,000 by late 2029 in what he called a conservative scenario tied to a U.S. debt crisis, lower long-term yields and a weaker dollar. He also downplayed rivalry with Strategy, saying the two firms need each other to expand the market for Bitcoin-backed digital credit. He noted that SATA pays a 13% daily dividend, compared with 12% on Strategy's STRC, and that ASST was trading near $30, up about 137% in three months.
Strive's latest purchase coincided with Strategy announcing 334 BTC for $28.7 million on Oct. 5. The company has funded much of its recent buying through SATA preferred stock sales, which supplied 70% of capital in the week ending Sept. 4 and 85% in the week ending Sept. 25.
