Strive Buys 2,000 Bitcoin in Its Biggest Purchase Since June and Edges Toward MARA

Bitcoin treasury firm Strive bought 2,000 BTC for roughly $169 million between Sept. 28 and Oct. 2, paying an average of about $84,422 per coin. It is the company’s largest buy since June 2, when it picked up 2,500 BTC. Its total now stands at 29,462 BTC, worth around $2.55 billion, according to a filing made with US regulators on Monday. That leaves it 6,115 BTC short of MARA, which holds 35,577 BTC, in the race for the fourth-largest public bitcoin treasury.

How Strive Funded the Bitcoin Buy

Most of the money came from selling its SATA preferred shares, which made up 61.5% of the capital raised, while warrant exercises added $56.7 million, CEO Matt Cole said. Preliminary third-quarter figures show Strive acquired 8,137 BTC at an average price of $78,885 and held nearly $285 million in cash as of Sept. 30.

Strive BTC Yield and Amplification Ratio

Its year-to-date BTC yield has reached 63.2%. The amplification ratio, which compares its preferred equity and debt with the value of its bitcoin, sits at 55.3%. The firm wants to lift that above 60% as long as bitcoin trades below $100,000.

Bitcoin Treasury Rankings: Metaplanet, Twenty One and Strategy

Strive’s goal of becoming the world’s second-largest public bitcoin holder just got harder. Metaplanet ended the third quarter with 44,000 BTC after selling 10,000 and buying back 11,000, and that net gain of 1,000 BTC moved it past Twenty One, which holds 43,514, into second place. Strive is 14,538 BTC behind Metaplanet, and with about 12 weeks left in the year it would need to add roughly 1,212 BTC per week to reach 44,000 by year-end, assuming Metaplanet buys nothing more. Strategy remains far ahead with 848,000 BTC after adding 334 BTC last week.

Strive Share Price and Market Reaction

Bitcoin traded near $86,000 on Monday. Strive’s ASST shares rose about 1.6% to $30.50 in the first hour of trading, while its SATA preferred shares held at their $100 par value.