Strive CEO Matt Cole posted a chart captioned "New engine activated" on X, hinting at a fresh BTC buy after Strive's Bitcoin treasury hit 43,000 coins.
Key Facts
Strive CEO Matt Cole posted a Bitcoin holdings chart on X captioned "New engine activated," a signal that has twice preceded a fresh purchase disclosure since mid-October.
Strive's Bitcoin holdings stood at 43,000 BTC after an Oct. 26 disclosure that it bought 6,182 BTC the prior week, putting it within roughly 500 BTC of Twenty One Capital.
StoneX raised its price target on Strive 34% to $43 the same day, citing the capital-structure reset from a $630 million preferred stock sale.
Strive, Inc. Chief Executive Matt Cole posted a chart of the company's Bitcoin (BTC) holdings on X on Sunday, captioned "New engine activated." Cole's post echoes two earlier charts he has shared since mid-October, each followed within days by a disclosure of a multi-thousand-coin purchase.
https://x.com/ColeMacro/status/2116887552028213646
Strive has become one of the most aggressive corporate Bitcoin buyers of the past two months, closing in on the corporate treasury built by Twenty One Capital, the Tether- and SoftBank-backed firm that trails only Strategy among public companies.
Strive's Bitcoin Treasury Grows to 43,000 BTC
Cole's latest post follows an Oct. 26 disclosure that Strive bought 6,182 BTC between Oct. 17 and Oct. 23 at an average price of about $82,732 per coin, according to a filing with the US Securities and Exchange Commission. The purchase lifted total holdings from 36,818 BTC to 43,000 BTC.
The buy was funded in part by a $630 million preferred stock offering that closed the same week, the filing showed. Strive's cash and equivalents still rose to $504.4 million despite the outlay.
That stack puts Strive within roughly 500 BTC of Twenty One Capital's 43,514 BTC, according to BitcoinTreasuries data, though still well behind Strategy, the sector's largest holder with more than 840,000 BTC.
Source: BitcoinTreasuries
StoneX Raises Strive Price Target 34% to $43
Strive shares fell 9.15% to close at $26.32 on the day of the purchase disclosure. StoneX senior equity analyst Mark Palmer raised his price target on the stock the same day, lifting it 34% to $43 from $32 while maintaining a Buy rating.
Palmer pointed to the preferred stock sale and the expiration of Strive's remaining warrants as a reset of the company's capital structure that made its all-preferred funding model more durable.
Strive's purchases this fall have continued through that pullback, forming part of a broader pattern of corporate accumulation even as the price cooled.
Cole has not said what the "new engine" refers to. If Strive follows its recent pattern, another purchase disclosure could land as early as Monday.
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