Strive Buys 1,355 More Bitcoin, Raising Holdings to 26,355 BTC

Strive Inc. bought another 1,355 bitcoin last week, lifting its holdings to 26,355 BTC as the company continued a rapid expansion of its bitcoin treasury. The purchases were made from September 14 through September 18 at an average price of approximately $79,475 per bitcoin, including fees and expenses.

At that average price, the latest purchases represent roughly $107.7 million of bitcoin. Strive’s holdings increased from 25,000 BTC as of September 11 to 26,355 BTC as of September 18, a 5.4% rise in one week. Cash and cash equivalents also increased by $25.4 million over the same reporting interval, reaching $229.6 million.

Strive keeps buying near the $79,000 level

Strive disclosed the figures in its September 21 Form 8-K filed with the Securities and Exchange Commission. The filing does not identify the exact source of funds used for the latest bitcoin purchase, and it does not say that the increase in cash was used to finance the acquisition. The cash balance and the bitcoin purchase are therefore best read as separate balance-sheet updates unless Strive provides a more specific source-and-use breakdown.

The latest purchase extends a run of weekly additions reported by the company since late August. Strive said on August 31 that it had bought 1,800 BTC between August 24 and August 28 at an average price of about $79,431, taking holdings to 23,156 BTC. A September 8 filing showed another 1,375 BTC purchased at an average of approximately $79,281, increasing the treasury to 24,531 BTC.

One week later, Strive reported buying 469 BTC at an average of roughly $77,954 between September 8 and September 11. That purchase brought the company’s holdings to exactly 25,000 BTC. The latest 1,355 BTC addition pushed the total another 5.4% higher to 26,355 BTC.

Four recent purchases added 4,999 bitcoin

Taken together, the four disclosed purchase periods from August 24 through September 18 added 4,999 BTC to Strive’s balance sheet. Holdings were 21,356 BTC as of August 21, according to the company’s August 31 filing, and reached 26,355 BTC four weeks later.

Using the approximate average purchase prices disclosed in each filing, those four additions represent about $396.2 million of bitcoin purchases in aggregate. The implied weighted average price across the 4,999 BTC is roughly $79,263 per bitcoin. Because Strive reports the individual average prices as approximate figures, the aggregate dollar amount and weighted average are also approximate rather than company-reported totals.

The sequence also shows that the recent buying has not depended on a single unusually large week. Strive added 1,800 BTC in the final full week of August, 1,375 BTC in the following period, 469 BTC in the week ended September 11 and 1,355 BTC in the latest period. The smallest of those additions was still enough to take the treasury through the 25,000 BTC mark.

Strive has not disclosed an updated aggregate historical cost basis for all 26,355 BTC in the September 21 filing. That makes the reported weekly purchase prices useful for tracking recent deployment, but they should not be treated as the average cost of the company’s full bitcoin position.

Share counts and preferred stock changed alongside the treasury

The latest filing also shows changes in Strive’s capital structure during the week. Class A common shares outstanding increased by 2,073,760 to 87,804,613, while Class B shares declined by 39,875 to 9,198,036. Strive’s measure of effective common shares outstanding, which adds the Class A and Class B totals, rose by 2,033,885 to 97,002,649.

Bitcoin holdings grew faster than that effective common share count during the period. A simple calculation from the figures in the filing shows bitcoin per effective common share increasing by about 3.2% from September 11 to September 18. That is not a company-reported performance metric, but it helps separate growth in the bitcoin treasury from the simultaneous increase in common shares outstanding.

Strive’s Variable Rate Series A Perpetual Preferred Stock, which trades under the ticker SATA, increased by 786,194 shares to 11,184,160 during the week. At the same time, shares underlying traditional warrants declined by 785,555 to 25,810,455. The filing reports those changes but does not state in Item 8.01 that the decline in warrant-linked shares directly funded the bitcoin purchase, so the movements should not be treated as a financing bridge without additional disclosure.

The company also continued to hold 505,000 shares of Strategy Inc.’s Variable Rate Series A Perpetual Stretch Preferred Stock, known as STRC. The fair value of that position slipped by $65,000 over the week to $49.748 million, while the number of STRC shares held was unchanged.

Strive’s September 21 disclosure leaves the company with a larger bitcoin position, more cash than it reported a week earlier and a higher effective common share count. Its own filing also flags dilution from additional Class A or SATA issuance, along with risks tied to implementing a bitcoin treasury strategy, among factors that could affect future results. Those capital-structure changes remain important when assessing how quickly the bitcoin treasury is growing on a per-share basis, not only in headline BTC terms.