Strive buys 3,311 bitcoin for $280 million in largest acquisition since January
Vivek Ramaswamy-founded Strive (ASST) increased its bitcoin (BTC) holdings by 3,311 BTC over the past week, lifting its total treasury to 32,773 BTC as of Oct. 9, according to an 8-K filing with the Securities and Exchange Commission on Tuesday.The latest purchase marks Strive's largest increase in bitcoin holdings since January, when it acquired approximately 5,048 BTC through its all-stock merger with Semler Scientific, cementing its place in the top five public company holders of bitcoin. Strategy, Metaplanet, Tether-backed Twenty One, and MARA make up the rest of the top 5, with 848,250 BTC, 44,000 BTC, 43,514 BTC, and 35,577 BTC, respectively, according to Bitcoin Treasuries data.Strive CEO Matt Cole previously stated the aim of ending 2026 as the world's second-largest public bitcoin holder. However, it remains 11,227 BTC ($937.5 million) behind Metaplanet, meaning it would need to add around 990 BTC per week on average, assuming Metaplanet makes no additional purchases in the period.Since going public in September 2025, Strive has accumulated bitcoin through multiple channels, including 5,886 BTC from initial PIPE proceeds and exchange activity, as well as other capital markets activity such as at-the-market programs and follow-on offerings.Capital markets strategy underpins bitcoin accumulationStrive has relied on structured finance instruments to fund its bitcoin strategy, particularly its Variable Rate Series A Perpetual Preferred Stock, or SATA.Strive also reported an increase in its cash and cash equivalents to $310.3 million from $284.7 million over the last week, despite the bitcoin purchase. Its Class A shares outstanding rose by approximately 9.5 million, while SATA preferred shares outstanding increased by 532,094. Shares underlying outstanding traditional warrants fell by approximately 8 million, according to the filing.Strive has also been acquiring Strategy's STRC preferred stock and currently holds 505,000 shares, extending its exposure to bitcoin-linked yield products. The company has positioned SATA as a high-yield, bitcoin-backed instrument modeled on STRC, currently offering a 13% annualized dividend rate, paid daily.Responding to Strive's announcement, Strategy Executive Chairman Michael Saylor praised the firm's latest bitcoin acquisition, a figure more than 13 times greater than Strategy's 250 BTC haul last week.