Strive Inc., the Dallas-based asset manager that rebranded as the first publicly traded bitcoin treasury company, purchased 1,110 bitcoin last week for about $81.5 million, lifting its total holdings to 21,356 coins, according to a Monday filing with the U.S. Securities and Exchange Commission.
The company paid an average of about $73,409 per bitcoin, including fees and expenses, for purchases made between August 17 and 21. The acquisition, funded with proceeds from at-the-market offerings of its ASST and SATA shares, raised its holdings roughly 5.5% from the 20,246 coins it reported in mid-August.
Market Reaction and Stock Performance
Shares of Strive's Nasdaq-listed common stock (ASST) rose more than 7% on Monday following the announcement, with Bitcoin Magazine reporting that shares closed Friday at $18.22, up almost 13%, and gained more than 5% in premarket trading Monday. Cointelegraph reported ASST shares were up more than 11% in Monday morning trading, poised to extend their roughly 36% year-to-date gains.
Bitcoin itself was trading near $79,000 on Monday, about 8% above the average price Strive paid for its latest purchase. The cryptocurrency rose nearly 25% last week, closing Friday at $77,387, and traded near $80,000 on Monday.
Treasury and Cash Position
Strive's cash and cash equivalents rose by $17.1 million to $171.9 million over the period, while its Class A shares outstanding increased by 3.65 million to 79.89 million, according to Cointelegraph. Bitcoin Magazine reported cash stood at $171.9 million, up from $154.1 million in July.
The purchase marks a sharp change in cadence. Strive bought 147 bitcoin between August 3 and 7 at an average of just over $64,800, then another 79 the following week at $63,231. Last week's total exceeds those two rounds combined by a factor of five.
The acceleration tracks a rally in the underlying asset, and CEO Matt Cole said Sunday he holds 'very strong' conviction that the bitcoin bear market has ended, pointing to breakouts against both the dollar and gold. In a post on X, Cole said: 'The upside is not simply Bitcoin going higher. It is Bitcoin becoming the fastest horse inside an expanding scarcity trade while $ASST is structured to amplify that outcome as much as we can responsibly support.'
Ranking and Context
The purchase lifted Strive to the seventh-largest publicly traded corporate bitcoin holder, behind Bullish and ahead of SpaceX, according to BitcoinTreasuries.NET data. Bitcoin Magazine reported the firm now ranks seventh, behind Strategy's 840,447 coins, Twenty One Capital, Metaplanet, MARA and Bitcoin Standard Treasury Company.
In January 2026, Strive completed the acquisition of Semler Scientific in an all-stock deal — the first instance of a publicly traded bitcoin treasury company acquiring another. Strive operates a bitcoin treasury strategy alongside an asset management business that manages nearly $3 billion across exchange-traded funds and a direct-indexing platform.
SATA Preferred Shares
Cointelegraph reported SATA closed at $100.01 on Friday, returning to management's targeted $99-to-$101 trading range after falling as low as $83.30 in late June. Strive narrowed the range from $95-$105 to $99-$101 in March and said it would not issue SATA through at-the-market or follow-on offerings below $100. The company launched SATA in November 2025, initially selling 2 million shares at $80 each for $160 million in gross proceeds.
Strive also held 505,000 shares of Strategy's STRC preferred stock valued at $48.6 million as of Aug. 21, with STRC trading near $97 on Monday, below Strategy's $100 target.