Strive, Inc. disclosed in a Form 8-K filed with the SEC on October 13 that it bought 3,311 bitcoin between October 5 and October 9, at an average price of approximately $84,500 per coin, including fees and expenses. The purchase lifts the Dallas-based company's total bitcoin holdings from 29,462 to 32,773 coins, the first time its treasury has crossed the 30,000 BTC mark.

The filing, signed by CEO Matthew Cole, also shows cash and cash equivalents actually rose over the same period, from $284.7 million to $310.3 million, even as the company spent close to $280 million acquiring bitcoin. That gap points to capital raised through other channels rather than cash reserves funding the purchase directly.

Where the cash came from

Strive's Class A common stock count jumped by 9,461,103 shares during the week, while shares underlying outstanding warrants fell by nearly 8 million, from 23,249,706 to 15,255,900. That drop lines up with public reporting that roughly $208 million worth of warrants were exercised, a batch tied to an October 13 expiration deadline at 5:00 p.m. Eastern Time. Warrant holders typically convert ahead of an expiration because unexercised warrants lose all value once the deadline passes, so the timing here is not a coincidence.

The company also formalized a minimum issuance price of $100 per share for its Variable Rate Series A Perpetual Preferred Stock, trading under the ticker SATA on Nasdaq. Strive made that pricing floor a binding term in its governing documents rather than a loose internal policy, which limits how cheaply the company can sell new SATA shares in future capital raises. SATA shares outstanding grew modestly over the week, from 13,498,082 to 14,030,176.

Strive's current approach mirrors the capital structure Strategy, formerly MicroStrategy, pioneered starting in 2020, using a mix of common stock, warrants and preferred equity to fund bitcoin accumulation without draining operating cash. Strive already holds 505,000 shares of Strategy's STRC Stock, valued at roughly $50.3 million as of October 9, which ties its own balance sheet performance in part to Strategy's.

A price gap worth watching

Strive's average purchase price of $84,500 sits above where bitcoin has traded in the days since. Bitcoin changed hands near $83,650 as of the most recent reading, up 0.52% in 24 hours but down 2.21% over the trailing week, putting the spot price about 0.71% below Strive's latest buy-in cost. The company is not alone in buying through recent weakness. Strive's own account shows an earlier purchase of 2,000 BTC worth about $169 million on October 5, which brought holdings to 29,462 BTC before the week's bigger buy pushed the total past 32,000.

Strive formed its bitcoin treasury strategy through a merger with Semler Scientific, a medical device company that itself had adopted a bitcoin reserve strategy in 2024 before combining with Strive earlier in 2026. That merger history explains why Strive's SEC filings still reference "the merger transaction" and its lingering integration risks in forward-looking disclosures, language that is standard for companies that recently completed a reverse merger or acquisition tied to a new business line.

What this signals about corporate bitcoin buying

CEO Matt Cole posted a bitcoin tracker update on social media with the message "Think ₿igger" ahead of the formal announcement, a pattern that has preceded other Strive purchase disclosures.

The company positions itself as both a direct bitcoin holder through its Class A shares and an income-oriented option for investors through SATA preferred stock, which carries dividend obligations that common shareholders do not have.

Public bitcoin treasury companies collectively held more than 3.6% of bitcoin's total circulating supply by mid-2026, according to tracking from BitcoinTreasuries.net, with Strategy alone accounting for the largest single corporate stake. Strive's addition of 3,311 coins in a single week is a meaningful jump for a company outside that top tier, and it puts Strive among the faster-growing corporate holders tracked this year.

Strive's SEC filing carries the standard forward-looking statement warning tied to its bitcoin treasury strategy, merger integration risks, and potential dilution from further share or SATA stock issuance, language common to companies that raise capital market by market to fund a long-term asset accumulation plan.

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