Strive bought 15,124 BTC in October and reported a large third-quarter profit, yet its shares have fallen over the past month. Preferred-stock funding and a sizeable dividend bill show how Bitcoin treasury companies are being judged beyond their coin counts.
October buying moves Strive up the corporate rankings
Bitcoin treasury company Strive bought 15,124 BTC in October, a figure published in its quarterly earnings report on Friday. Cointelegraph reported that the purchases lifted its holdings to 43,124 BTC as of Oct. 30, and that cumulative buying from January through October 2026 reached 35,497 BTC.
On the BitcoinTreasuries.NET ranking cited by Cointelegraph, that makes Strive the fourth-largest publicly traded corporate holder. It trails third-place Twenty One Capital by 390 BTC. Second-place Metaplanet holds 44,000 BTC, and Strive would need another 877 BTC to pass it if neither company changed its position.
A CEO target that now looks closer
Cointelegraph noted that CEO Matt Cole said in a September interview that Strive could become the world's second-largest public corporate Bitcoin holder by year-end. He also acknowledged that this was not his base-case scenario.
The October pace makes that goal look less remote on paper. The ranking gap is small, but it depends on what other companies do, and the report does not say how much Strive plans to buy in the coming weeks.
Preferred stock paid for the push
Cointelegraph said Strive took in roughly $609 million in net proceeds from selling its SATS perpetual preferred stock in October. The shares carry a 15% annual dividend rate. The company has not said how much of that money will go to Bitcoin.
Perpetual preferred stock is a common funding tool for treasury companies because it raises cash without issuing common shares directly. The trade-off is a fixed payout obligation that continues regardless of where Bitcoin trades. That obligation is central to the third outlet's reporting.
The key figures
The earnings report and the coverage of it give a compact set of numbers.
- 15,124 BTC bought in October, per Cointelegraph.
- 43,124 BTC held as of Oct. 30, reported by both Cointelegraph and The Block.
- Third-quarter net income of $509 million, with unrealized Bitcoin gains of $533.7 million as the main driver, per Cointelegraph.
- About $609 million in net proceeds from the SATS offering, with a 15% annual dividend rate.
- Roughly $287.4 million in yearly dividends implied for the SATA and SATS preferred shares, according to The Defiant.
- ASST shares down 1.97% to $20.19 in early Friday trading and down 32.15% over the past month, per Cointelegraph citing Yahoo Finance.
How the three accounts compare
Cointelegraph offers the fullest account, with the rankings, the funding details and the strategy comments. The Block confirmed the 43,124 BTC total and framed the quarter as profitable even though the shares kept sliding. Its coverage here is limited to a headline and summary, so details beyond those are not established.
The outlets differ on profit. Cointelegraph and The Block both put third-quarter income at $509 million, while The Defiant's headline gives a lower profit figure for the quarter. The Defiant's available text does not explain the gap, so the reason is unknown.
The Defiant's summary adds a point the others do not. It estimates that the SATA and SATS preferred shares carry roughly $287.4 million in yearly dividends, using November rates and the share counts on Oct. 30. It also says that cost is excluded from Strive's Bitcoin Yield metric.
Why profit and share price are moving apart
The reported profit is largely an unrealized gain, which means it reflects the market value of coins still held rather than cash from a sale. Bitcoin was trading near $75,780 at the latest reading, down 8.0% over 30 days and well below its all-time high of $126,080 set on 2025-10-06. Cointelegraph and The Block do not tie Strive's share decline to that price path or to anything else, so the cause is not established.
The strategy comments point to a second theme. Chief risk officer Jeff Walton told Cointelegraph that the company is looking at "yield and distribution that is not correlated to Bitcoin or crypto." According to the earnings report, Strive is evaluating banking, brokerage, decentralized finance, reinsurance and tokenization. No specific deal or timetable is reported.
What to watch next
Several questions remain open. One is how much of the roughly $609 million in proceeds is ultimately used to buy Bitcoin, since Strive has not allocated it. Another is whether the company discloses further purchases that settle the ranking contest with Metaplanet and Twenty One Capital.
Readers who track treasury companies can also compare the dividend burden cited by The Defiant against the earnings the company generates outside of Bitcoin price gains. Whether any of the evaluated businesses becomes an actual operating line is another open question. Future earnings reports will show whether unrealized gains continue to carry the income statement.
Market snapshot
| Asset | Price | 24h | 7d | Market cap |
|---|---|---|---|---|
| Bitcoin (BTC) | $75,780 | -0.2% | -2.7% | $1.52 trillion |
CoinGecko data as of 2026-11-08 (UTC).
FAQ
How much Bitcoin does Strive hold?
Strive held 43,124 BTC as of Oct. 30, according to Cointelegraph and The Block. That includes 15,124 BTC bought in October. It ranks fourth among publicly traded corporate holders on BitcoinTreasuries.NET.
Why did Strive's profit differ between reports?
Cointelegraph and The Block cite $509 million in third-quarter net income, while The Defiant's headline gives a lower profit figure. The available text does not explain the difference. Cointelegraph says unrealized Bitcoin gains of $533.7 million were the main driver of that figure.
What is Strive's SATS preferred stock?
SATS is a perpetual preferred stock that carries a 15% annual dividend rate. Per Cointelegraph, an October sale of the stock brought in about $609 million in net proceeds. The Defiant estimates that SATA and SATS together carry about $287.4 million in yearly dividends.
Sources
- Cointelegraph: Strive buys 15,124 Bitcoin in October, closes in on top treasury holders (2026-11-06)
- The Block: Strive’s bitcoin gains drive $509 million Q3 profit as BTC buying ramps up (2026-11-06)
- The Defiant: Bitcoin Gains Drive Strive's $474.8 Million Q3 Profit (2026-11-06)
- CoinGecko (market data)
Written by the Coinvote news desk from reporting by Cointelegraph, The Block and The Defiant. Not financial advice.
