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Strive, Inc. (ASST) acquired 6,182 bitcoin for $511.4 million between October 17 and October 23, paying an average of $82,732 per coin, according to an SEC filing published on Monday. The Nasdaq-listed company’s treasury now stands at 43,000 BTC, Bitcoinmagazine reported.
The filing also showed cash and marketable securities rising by $187.7 million to $554.6 million over the same window. Cryptobriefing reported that the company has funded the accumulation through capital markets rather than operating cash flow.
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Key facts
- Strive bought 6,182 BTC for $511.4 million at an average price of $82,732 per bitcoin.
- The purchase raised total holdings to 43,000 BTC, up from 36,818 BTC reported on October 20 after an earlier 4,045 BTC buy.
- The buy came a week after Strive closed an upsized IPO of SATS, its 15% Perpetual Series A Preferred Stock: 7 million shares at $90 each, for $630 million in gross proceeds.
- According to Cryptobriefing, warrant exercises brought in roughly $369 million and SATS preferred stock raised $630 million, as documented in October Form 8-K filings.
- Cryptobriefing ranked Strive as the fourth-largest public corporate holder of bitcoin; Bitcoinmagazine noted Strategy remains the largest, at 848,517 BTC.
Preferred stock and a $1 billion ATM
The SATS shares carry dividends accruing at 15% on a $100 stated amount, equal to a 16.67% yield at the $90 issue price. Payments, if declared by the board, begin November 9 and fall on each business day. Strive opened the offering with a $500 million target and enlarged it by 2 million shares on demand, and it has set aside a $157.5 million dividend reserve covering 18 months of payments on the new shares.
The filing disclosed a new at-the-market program allowing the company to sell up to $1 billion of SATS over time. Cantor Fitzgerald, Barclays, Clear Street, StoneX, B. Riley Securities, Maxim Group and H.C. Wainwright are sales agents. The structure mirrors the one Strive built for SATA, its first preferred stock, which pays cash on each business day; Strive set up a $500 million ATM for SATA in December 2025. Chairman and CEO Matt Cole described the SATS IPO as a critical milestone in the strategy to maximize long-term total returns for common equity investors.
Also readStrategy Sells $467M in MSTR Shares, Holds Bitcoin Steady as Cash Reserve Reaches $3B
Treasury growth and cost basis
Strive went public as a bitcoin treasury company in 2025 through a reverse merger and completed its all-stock acquisition of Semler Scientific in January. Holdings stood near 7,525 BTC in December 2025. Cryptobriefing said the Semler deal brought in roughly 12,800 BTC and that the company has since more than tripled that figure.
The two outlets differ on cost basis. Cryptobriefing cited a projected overall average in the high $80,000s to low $90,000s per BTC and said October purchases between $82,000 and $84,500 sat below that level, implying earlier buys at higher prices. Bitcoinmagazine did not report a projected average cost. Cryptobriefing also flagged discrepancies between some reported purchase amounts and Strive’s formally disclosed totals, and said October buying cost roughly $335 million. Strive carries no debt, per Bitcoinmagazine.
Why it matters
Strive’s treasury has grown from a few thousand coins to a top-tier position in under a year, and the company is now closer to the top corporate holders it has said it wants to compete with. The funding mix matters for shareholders: preferred stock carries dividend obligations Strive must service whatever bitcoin does, so the equity structure, not only the coin price, shapes the risk. Bitcoinmagazine reported that Strategy proposed daily dividends across its five preferred stocks in September, a sign that the preferred-share playbook is spreading among treasury companies.
What to watch
Investors will watch for fresh 8-K filings detailing the cost and funding of the 6,182 BTC, and for further sales under the SATS at-the-market program and the terms attached to them. Board decisions on the daily SATS dividends from November 9 onward will also be visible.
This article is not financial advice; cryptocurrency markets are volatile and uncertain.
Sources: Bitcoin Magazine, Cryptobriefing
