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NewsDigital Assets · $BTC

Strive Buys 1,375 Bitcoin for $109 Million, Preferred Stock Sits at $999 Million

A $109 million Bitcoin purchase between Aug. 31 and Sept. 4 pushed Strive Asset Management's total $BTC inventory to 24,531 coins, worth roughly $1.9 billion at current prices, and lifted its preferred-stock funding vehicle to $999 million in notional value outstanding. CEO Matt Cole confirmed the 1,375-coin acquisition in a post on X, noting an average purchase price of $79,281.

By Miles BroadbentDigital Assets DeskSeptember 8, 20262 min read$BTC
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Key takeaways

  • Strive Asset Management bought 1,375 Bitcoin for $109 million between Aug. 31 and Sept. 4, raising its total holdings to 24,531 BTC worth roughly $1.9 billion.
  • The purchase lifted Strive's SATA preferred-stock funding vehicle to $999 million in notional value, $1 million short of $1 billion.
  • Strive's holdings grew 5.9% in one week and 21.1% over three weeks, from a starting inventory of 20,245 BTC, with 70% of last week's capital coming from SATA.
  • Strive ranks fifth among global corporate Bitcoin treasuries, ahead of SpaceX, Coinbase, and Trump Media and Technology Group.
  • CEO Matt Cole said Strive bought at an average price of $79,281 and pointed to over $700 million in warrants that could unlock up to $1.4 billion in additional buying capacity.

A $109 million Bitcoin purchase between Aug. 31 and Sept. 4 pushed Strive Asset Management's total $BTC inventory to 24,531 coins, worth roughly $1.9 billion at current prices, and lifted its preferred-stock funding vehicle to $999 million in notional value outstanding. CEO Matt Cole confirmed the 1,375-coin acquisition in a post on X, noting an average purchase price of $79,281.

The accumulation rate

Chief Risk Officer Jeff Walton detailed the throughput in a companion post: holdings climbed 5.9% in a single week, from 23,156 BTC to 24,531 BTC, and have grown 21.1% over three consecutive weeks, from a starting inventory of 20,245 BTC.

Seventy percent of last week's capital came from SATA, Strive's Variable Rate Series A Perpetual Preferred Stock, which carries a 13% annual dividend and trades near its $100 face value. Cole was direct about the moment: "Time to break the billion-dollar wall," he wrote, with SATA sitting $1 million short of ten figures in notional value. Strive's cash position rose from $183.5 million to $202.6 million during the week, even after the $109 million outlay.

The preferred-stock model is Strive's answer to a funding problem: how to keep accumulating Bitcoin without pulling down common holders or taking on fixed-maturity debt. The failure mode is visible in the peer group. Strategy's preferred stock, STRC, fell below its own $100 face value this year as Bitcoin dropped, and the company sold Bitcoin for the first time since 2022 to cover its dividend. SATA has held closer to par through the same period, but it has not been tested by a drawdown of equivalent depth.

What to watch

Strive, co-founded by Vivek Ramaswamy and listed as ASST on Nasdaq after a September 2025 merger with Asset Entities, now ranks fifth among corporate Bitcoin treasuries globally, ahead of SpaceX, Coinbase, and Trump Media and Technology Group, according to Bitcoin Treasuries data. ASST shares fell 86% from a post-merger high of $130 by mid-May before recovering with Bitcoin's price; the company posted a $265.9 million net loss in the first quarter, driven by a paper loss on Bitcoin holdings when the price declined.

Twenty One Capital, backed by Tether, holds roughly 43,500 BTC as the second-largest public Bitcoin treasury behind Strategy. The gap between Strive and Twenty One is about 19,000 BTC. Closing it by year-end would require roughly 1,200 BTC per week over the remaining 16 weeks of 2026, a pace Strive has matched only in its most aggressive recent stretches.

Cole has pointed to more than $700 million in outstanding warrants that he said could unlock as much as $1.4 billion in additional buying capacity. That is the order book in focus for the next leg of accumulation.

Related reading

About this story

Filed by the digital assets desk of MarketPR on September 8, 2026. Source: finance.yahoo.com. Indicative figures are not investment advice.

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Frequently asked

How much Bitcoin did Strive buy and at what price?

Strive bought 1,375 Bitcoin for $109 million at an average purchase price of $79,281, between Aug. 31 and Sept. 4.

What is SATA and how does it fund Strive's purchases?

SATA is Strive's Variable Rate Series A Perpetual Preferred Stock, carrying a 13% annual dividend and trading near its $100 face value; it supplied 70% of last week's buying capital and reached $999 million in notional value.

Where does Strive rank among corporate Bitcoin treasuries?

Strive ranks fifth globally, ahead of SpaceX, Coinbase, and Trump Media and Technology Group, according to Bitcoin Treasuries data.

What would it take for Strive to catch Twenty One Capital?

Twenty One Capital holds roughly 43,500 BTC, about 19,000 BTC ahead of Strive, and closing that gap by year-end would require roughly 1,200 BTC per week over the remaining 16 weeks of 2026.

How did Strive's ASST stock and finances perform recently?

ASST shares fell 86% from a post-merger high of $130 by mid-May before recovering with Bitcoin's price, and the company posted a $265.9 million net loss in the first quarter driven by a paper loss on Bitcoin holdings.