Strive expanded its corporate Bitcoin treasury by 3,311 BTC between October 5 and October 9, lifting its reported balance from 29,462 BTC to 32,773 BTC, according to an SEC filing dated October 13.
The purchase was made at an average cost of roughly $84,500 per bitcoin, including fees and expenses, bringing the total acquisition value to approximately $280 million. The filing also showed Strive held $310.3 million in cash and cash equivalents as of October 9, up $25.6 million from October 2.
The October buying marks Strive's largest Bitcoin treasury increase since January, when an all-stock merger with Semler Scientific added about 5,048 BTC. The new tranche is about two-thirds of that earlier addition, but it stands out as a direct purchase over a defined five-day period.
On October 15, Strive priced an upsized preferred stock offering, selling 7 million units of 15% Series A Perpetual Preferred Stock, or SATS, at $90 per share. The deal was increased by 2 million units from the originally announced size, producing about $630 million in gross proceeds before fees. Some headlines cited a $700 million notional figure, but the per-share price implies roughly $630 million.
Strive said net proceeds may fund additional Bitcoin and Bitcoin-related products. A subsequent report cited the company's treasury at 35,595 BTC, suggesting continued accumulation beyond the October 9 filing date. Other possible uses include working capital, income-generating assets, capital expenditures, buybacks of Class A common stock or its Variable Rate Series A Perpetual Preferred Stock, and acquisitions.
SATS carries a cumulative 15% annual dividend based on a $100 stated amount per share. Buyers paid $90 per share, and Strive plans to place $22.50 per share into a dividend reserve account to cover 18 months of payments. Regular dividend dates are set to begin November 9, 2026, and the liquidation preference starts at $100 per share. Settlement is expected on October 20, 2026.
Following the news, Strive's ASST stock rose 3.93%, SATS edged up 0.18%, and Bitcoin rose 0.87%. Barclays and Cantor acted as joint book-running managers, with Clear Street as lead manager. B. Riley Securities, H.C. Wainwright & Co., Maxim Group and StoneX were co-managers. Strive Asset Management, a subsidiary, manages more than $2.8 billion in assets.
