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Strive bought 2,822 Bitcoin<a href="https://yellow.com/asset/btc" rel="noopener noreferrer nofollow">(BTC)</a> for about $235 million this week, lifting its treasury to 35,595 BTC as warrant exercises raised an expected $369.2 million.
<blockquote>
 <h2 id="key-points">Key Points:</h2>
 <ul>
 <li>Strive paid an average of about $83,266 per coin across purchases made on Oct. 12 and Oct. 13.</li>
 <li>The new total puts the company 18 coins ahead of MARA Holdings for fourth place among public Bitcoin holders.</li>
 <li>A proposed sale of 5 million preferred shares could fund further Bitcoin purchases.</li>
 </ul>
</blockquote>
<h2 id="strive-bitcoin-purchase">Strive Bitcoin Purchase</h2>
The Dallas-based company <a href="https://www.sec.gov/Archives/edgar/data/0001920406/000162828026065816/asst-20261014.htm" rel="noopener noreferrer nofollow">disclosed</a> the buy in a Form 8-K filing on Wednesday. It paid an average of about $83,266 per coin between Oct. 12 and Oct. 13, including fees and expenses. Chief executive Matt Cole put the total cost at $235 million in a post on X.
Over the same two days, investors exercised 273,493,909 traditional warrants to buy 13,674,703 Class A shares, the filing showed. None of the warrants tied to the company's private investment in public equity deal remained outstanding after Tuesday's close, and Cole <a href="https://www.theblock.co/news/business/2026-10-14-strive-buys-235-million-in-bitcoin-warrant-yield-369-million-418556" rel="noopener noreferrer nofollow">said</a> 94% of them had been exercised overall.
The purchase landed one day after Strive <a href="https://news.bitcoin.com/crypto-news/strive-buys-235m-bitcoin-knocks-mara-fourth-place/" rel="noopener noreferrer nofollow">reported</a> buying 3,311 BTC for roughly $280 million between Oct. 5 and Oct. 9. Together, the two deals added 6,133 coins. That works out to about $515 million of Bitcoin in nine days.
Also Read:<a href="https://yellow.com/news/france-tax-stablecoin-swaps-chainalysis-offshore" rel="noopener noreferrer nofollow">France Could Tax Stablecoin Swaps At 31.4%, Chainalysis Warns Of Offshore Exodus</a>
<h2 id="bitcoin-treasury-race">Bitcoin Treasury Race</h2>
The buying spree reshuffled the corporate leaderboard.
With 35,595 BTC, Strive now holds 18 more coins than MARA Holdings, enough to take fourth place among publicly traded companies. Strategy still leads with about 848,250 BTC, followed by Metaplanet at 44,000 and Twenty One Capital at 43,514.
Shares of Strive, which trade on Nasdaq under the ticker ASST, slid about 8% by late Wednesday morning after closing Tuesday at $27.59. Investors are weighing the bigger Bitcoin stack against dilution from more than 13.6 million new Class A shares.
On Tuesday, the company also <a href="https://www.globenewswire.com/news-release/2026/10/13/3380189/0/en/strive-announces-proposed-initial-public-offering-of-sats-stock.html" rel="noopener noreferrer nofollow">announced</a> plans to sell 5 million shares of a new SATS preferred stock paying a 15% annual dividend, with proceeds partly aimed at buying more Bitcoin.
The warrant cash follows a path Cole <a href="https://bitcointreasuries.net/news/strive-says-they-could-buy-over-20k-bitcoin-before-year-end" rel="noopener noreferrer nofollow">described</a> in early September, when Strive held 23,156 BTC and the warrants, struck at $27, were due to expire in mid-October. He said the warrants and follow-on preferred stock sales could create about $1.4 billion in buying capacity, and that Strive might finish 2026 as the second-largest public Bitcoin holder if several things went right.
Read Next:<a href="https://yellow.com/news/mnx-pre-ipo-bets-openai-anthropic" rel="noopener noreferrer nofollow">MNX Opens Pre-IPO Bets On OpenAI And Anthropic Valuations, No Shares Required</a>

Strive Keeps Buying Bitcoin, Now Sitting On A Treasury Of 35,595 BTC

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