Strive acquires additional 1,109 Bitcoin, totaling 16,500 BTC

Strive, Inc. (NASDAQ: ASST) just added another 1,109 Bitcoin to its balance sheet, bringing total holdings to 16,500 BTC. The purchase, disclosed via an 8-K filing on May 26, cost approximately $85.4 million at an average price of about $76,989 per coin.

That puts Strive at seventh on the list of largest public corporate Bitcoin holders. For a company that didn’t exist in its current form until a reverse merger closed in 2025, that’s a remarkably fast climb up the leaderboard.

Inside the latest buy

The transactions took place between May 19 and May 22, according to the filing. This wasn’t a single block purchase but a series of acquisitions spread across a few trading days, a common approach for companies looking to minimize market impact while still moving meaningful size.

The latest batch follows earlier May purchases of 382 BTC and 444 BTC. Before May’s buying spree kicked off, Strive held 15,391 BTC.

CEO Matt Cole confirmed the acquisition on social media, reinforcing the company’s thesis that Bitcoin functions as a fundamental reserve asset, not just a speculative position on the balance sheet.

How Strive funds its Bitcoin habit

The company uses a mix of preferred equity, common stock offerings, and strategic mergers to fuel its accumulation engine.

One of its key instruments is the Variable Rate Series A Perpetual Preferred Stock, trading under the ticker SATA. The dividend on SATA was recently adjusted to 13%, which is a hefty yield designed to attract income-focused investors willing to bankroll Bitcoin purchases indirectly.

Strive has indicated plans to initiate new at-the-market programs for both its Class A common stock and SATA preferred shares. These programs would give the company a standing ability to sell shares into the open market whenever it sees favorable conditions, providing a steady drip of capital for future Bitcoin purchases.

The company emphasizes that its strategy is designed to maximize Bitcoin held per share, a metric that matters because it measures whether existing shareholders are actually benefiting from the accumulation or just getting diluted into irrelevance.

The broader corporate Bitcoin treasury trend

The company itself was formed through a reverse merger between Strive Asset Management and Asset Entities (ASST) in 2025. That structure gave Strive immediate access to public markets and the ability to raise capital at scale.

Matt Cole’s firm positions itself not just as a Bitcoin holder but as a Bitcoin treasury company, meaning the entire business model revolves around acquiring and holding the asset. This distinguishes Strive from companies like Tesla, which held Bitcoin as a small portion of a much larger balance sheet.

What this means for investors

That 13% dividend on the SATA preferred shares represents a real cost that Strive must service regardless of Bitcoin’s price action. If Bitcoin enters an extended drawdown, the company could find itself paying high dividends while sitting on depreciated assets. The preferred equity holders get paid first, which means common shareholders absorb the pain.

Investors buying ASST as a Bitcoin proxy should understand they’re getting leveraged exposure wrapped in corporate credit risk, not a simple bet on the price of the underlying asset.

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