Strive Lifts Bitcoin Treasury to 32,773 BTC After Warrant-Funded Week
通过 Coinvote
Strive, the Nasdaq-listed treasury company trading as ASST, disclosed a purchase of 3,311 bitcoin worth roughly $280 million, its largest since January. The buy came as investors exercised $208 million in warrants and lifted holdings to 32,773 BTC.
Strive discloses its largest bitcoin purchase since January
According to Decrypt and Cointelegraph, Strive purchased 3,311 BTC during the week of Oct. 5 to Oct. 9, paying roughly $84,500 on average for each coin. Decrypt valued the purchase at roughly $280 million and described it as the company's biggest single buy since January. The Block reported the same acquisition and the same January comparison.
The purchase brings Strive's total to 32,773 BTC, up from 29,462 BTC a week earlier, Decrypt reported. At the prices Decrypt cited, the stack is worth roughly $2.73 billion. The company trades on Nasdaq under the ticker ASST and disclosed the buy in a filing with the US Securities and Exchange Commission.
Warrants and preferred shares pay for the accumulation
Cointelegraph reported that Matt Cole, Strive's chairman and chief executive, posted on X that warrant holders had exercised $208 million worth. About 15.3 million warrants remained outstanding ahead of their Tuesday expiration. A warrant gives its holder the right to buy shares at a fixed price, so each exercise sends fresh cash to the issuer, which Strive can then use to buy bitcoin.
Cointelegraph also reported that Strive changed its governing documents so that SATA preferred shares carry a binding minimum issuance price of $100. That limits the company's ability to sell them below that level, and they were trading at $99.40 at last look. Michael Saylor, whose company Strategy pioneered the treasury model, praised the move on X, saying the company's "hypergrowth shows how the capital markets are accelerating Bitcoin adoption."
Decrypt added detail on the rest of the balance sheet. Decrypt reported that the firm's other assets include around 505,000 Strategy STRC preferred shares worth about $50 million, plus cash of approximately $310 million.
The numbers behind the week
The reports agree on the core figures, and each adds a piece of the picture.
- Purchase: 3,311 BTC bought for roughly $84,500 each on average, fees included, per Decrypt.
- Total holdings: 32,773 BTC, up from 29,462 BTC a week earlier.
- Prior buys: $169 million earlier this month, described by Decrypt as the largest in four months at the time, and $94.5 million in late September.
- Warrant exercises: $208 million, with about 15.3 million warrants left before expiry, per Cointelegraph.
- Share price: ASST was little changed at $27.52 at last look, per Cointelegraph.
A second headline with different figures
A separate The Block report, published on Oct. 14, says Strive acquired 2,822 bitcoin for $235 million after taking in $369.2 million in gross proceeds from traditional warrant exercises. The outlet's summary does not say which dates the purchase covers, so it cannot be matched directly to the 3,311 BTC buy reported a day earlier.
The warrant totals also differ. Cointelegraph cited $208 million in exercises for the week ending Oct. 9, while The Block cites $369.2 million in gross proceeds. The reports do not explain the gap. It may reflect a later period or a different measurement, but neither outlet establishes that. Readers should treat the 2,822 BTC figure as a separate data point until Strive's own filing is checked.
Why bitcoin per share matters more than the headline
Cointelegraph reported that Strive's bitcoin reserves grew 11.2% over the period, outpacing a 9.4% rise in its effective common share count. In other words, existing shareholders ended the week with more bitcoin behind each share, even though new equity was issued. That is the test treasury companies are judged on, because issuing shares below the value of the underlying coins would dilute holders.
Position in the league table is also moving. Cointelegraph said Strive is now the fifth-largest public corporate bitcoin holder, according to industry data, while The Block said the purchase narrows the gap with MARA. Strategy remains far ahead with 848,250 BTC after adding 250 BTC last week, Cointelegraph reported.
Decrypt noted the familiar risk. The company bought during a rough week for the market, and the same exposure that rewards a rebound cuts the other way in a decline. Bitcoin was trading near $81,991 on Wednesday, down 1.8% over 24 hours and below Strive's reported average purchase price. Decrypt also pointed to scrutiny over how far treasury firms' stock premiums depend on continued buying.
What to watch after the warrant deadline
The first open question is how many of the roughly 15.3 million remaining warrants were exercised before expiry, and whether that money shows up as another large purchase. The next filing should show whether the 2,822 BTC figure from The Block belongs to a later week or reflects a different reporting basis.
Readers can also check whether SATA preferred shares keep trading near the new $100 floor, since the amended terms constrain how the company can raise money that way. Decrypt noted that other treasury buyers are also active, with Bitmine's chairman saying it will stop buying once it holds 5% of Ethereum's supply. Whether competition for capital among these firms affects Strive's pace is not addressed in the reports.
Market snapshot
| Asset | Price | 24h | 7d | Market cap |
|---|---|---|---|---|
| Bitcoin (BTC) | $81,991 | -1.8% | -1.7% | $1.65 trillion |
| Ethereum (ETH) | $2,442 | -2.9% | -5.7% | $298.17 billion |
CoinGecko data as of 2026-10-14 (UTC).
FAQ
How much bitcoin does Strive hold now?
Strive holds 32,773 BTC after buying 3,311 BTC between Oct. 5 and Oct. 9, according to Decrypt and Cointelegraph. That was up from 29,462 BTC a week earlier. Cointelegraph described it as the fifth-largest public corporate holder, per industry data.
How is Strive paying for its bitcoin purchases?
Cointelegraph reported that investors exercised $208 million in warrants and that the company also raises capital through common and preferred shares. Strive's SATA preferred shares now carry a binding $100 minimum issuance price. Decrypt also reported roughly $310 million in cash on its balance sheet.
Why do reports show different purchase sizes for Strive?
Decrypt, Cointelegraph and The Block put the week's buy at 3,311 BTC, roughly $280 million. A separate The Block report cites 2,822 BTC for $235 million after $369.2 million in warrant proceeds. Its summary does not give the period, so the difference is not explained.
Sources
- The Block: Strive buys $235 million in bitcoin as warrant exercises yield $369 million (2026-10-14)
- Decrypt: Strive Buys $280 Million in Bitcoin, Its Largest Purchase in Months (2026-10-13)
- Cointelegraph: Strive reports $208M in warrant exercises as Bitcoin holdings jump 11% (2026-10-13)
- The Block: Strive buys 3,311 bitcoin for $280 million in largest acquisition since January (2026-10-13)
- CoinGecko (market data)
Written by the Coinvote news desk from reporting by The Block, Decrypt and Cointelegraph. Not financial advice.
