Strive Reaches About 43,000 BTC, Targets No. 2 Corporate Ranking
Strive added 6,182 bitcoin from October 17 through October 23, 2026, leaving it fourth among publicly traded corporate holders. The company disclosed the purchases on October 26 alongside a new preferred stock offering program that could raise up to $1 billion.
Layla Haddad
Two rivals stand between Strive and second place
The latest bitcoin purchases cost approximately $511.4 million, or about $82,732 per coin including fees and expenses, according to Strive's disclosure. At bitcoin prices around $80,000 in late October, Bitcoin.com News valued the company's roughly 43,000 BTC at approximately $3.45 billion.
Bitcoin Treasuries data cited in the report put Metaplanet at approximately 44,000 BTC and Twenty One at 43,514 BTC, both narrowly ahead of Strive. Strategy remained far above that group with 848,517 BTC, while MARA held 35,577 BTC and ranked among the top five.
CEO Matt Cole wants Strive to end 2026 as the second-largest publicly traded corporate bitcoin holder. That would mean overtaking Metaplanet and Twenty One, whose own purchases could shift the threshold. An estimate cited in the report puts Strive's required buying pace at about 105 BTC a week, but that figure depends on changes in its competitors' holdings.
Preferred stock provides capital and dividend obligations
Strive's October 26 filing established an at-the-market offering program for up to $1 billion of SATA preferred stock, allowing sales over time. That amount is an offering limit, not proceeds already received. Permitted uses include bitcoin purchases, working capital and other investments, rather than bitcoin alone.
The program's sales agents are Cantor Fitzgerald, Barclays, Clear Street, StoneX, B. Riley Securities, Maxim Group and H.C. Wainwright.
It follows a separate SATA preferred stock offering that closed October 20. Strive sold 7 million shares for $90 apiece, raising about $630 million before offering expenses after increasing the offering from an initial $500 million target.
Those shares pay a 15% annual dividend on a $100 stated amount, equivalent to a yield of about 16.67% at the issue price. Payments, if declared, are scheduled to start November 9 and occur each business day. Strive reserved $157.5 million to cover 18 months of dividends.
The dividend creates an ongoing financing obligation alongside Strive's bitcoin buying plans. Bitcoin Magazine reported on October 26 that the company finances its purchases with common and preferred equity and has no debt, bonds, credit lines or leveraged positions.
Warrant exercises supplied another source of capital earlier in the month. An October 14 Form 8-K reported that investors had exercised warrants for 13,674,703 Class A shares, producing expected gross proceeds of about $369.2 million and bringing aggregate warrant exercises to 94%.
Cash rises alongside bitcoin holdings
Strive reported approximately $504.4 million in cash and cash equivalents on October 23, compared with $317.5 million a week before. The disclosure did not say that the entire balance would be spent on bitcoin. Over the same period, outstanding Class A shares increased by approximately 3.3 million to 118.1 million.
The company also owned about 505,000 shares of Strategy's STRC preferred stock. Their value reached approximately $50.2 million on October 23, up from $49.3 million a week earlier. Its position in Strategy's SATA preferred shares changed little, remaining at roughly 14 million shares.
These preferred stock investments are separate from Strive's direct bitcoin reserves. Their value and returns depend on the issuing company's finances, the securities' terms and market conditions.
A year of treasury expansion
Bitcoin.com News described Strive, a Nasdaq-listed company co-founded by Vivek Ramaswamy, as conducting one of October's largest corporate bitcoin accumulation campaigns through several major purchases financed by capital raises.
The expansion extends beyond this month's buying. Bitcoin Magazine reported holdings of nearly 7,525 BTC in December 2025; by late October 2026, the total had grown to more than five times that level.
Strive's all-stock acquisition of Semler Scientific, approved by Semler shareholders in January 2026, brought 5,048.1 BTC into the company. At closing, the combined business held 12,797.9 BTC, moving ahead of Tesla and Trump Media & Technology Group to rank as the 11th-largest corporate bitcoin holder.
Strive describes itself as the first publicly traded asset management Bitcoin treasury company. Its subsidiary, Strive Asset Management, has built assets under management to more than $2 billion since introducing its first ETF in August 2022.
