Strive buys 1,110 Bitcoin, becomes fifth-largest BTC treasury company

Strive, Inc. has added another 1,800 Bitcoin to its balance sheet, pushing its total holdings to 23,156 BTC and vaulting the company into fifth place among the world’s largest corporate Bitcoin treasuries.

The Dallas-based asset manager, which trades on Nasdaq under the ticker ASST, has been on a buying spree that would make even the most aggressive Bitcoin bulls do a double take. The company went from holding virtually zero Bitcoin in 2025 to sitting on a war chest of over 23,000 BTC in roughly a year and a half.

From zero to 23,000 BTC in 18 months

Strive held approximately 7,500 BTC at the end of 2025. By mid-2026, that figure had tripled past 21,000 BTC. And now, with this latest 1,800 BTC purchase, the total sits at 23,156 BTC.

The company has disclosed more than 29 separate Bitcoin purchases to date. One of its most notable single transactions came in June 2026, when it scooped up 2,500 BTC following its acquisition of Semler Scientific.

A prior batch of purchases from August 17 to August 21 saw the firm acquire 1,110 BTC for approximately $81.5 million, working out to an average price of roughly $73,409 per coin including fees. That particular announcement sent ASST shares surging more than 11%.

The funding mechanism behind all this buying has been straightforward, if not exactly subtle. Strive has been issuing equity to finance its Bitcoin purchases, including approximately 3.65 million ASST common shares and around 441,000 SATA preferred shares in the most recent round of financing. Despite the heavy spending, the company reported cash reserves of $171.9 million after the purchases.

The corporate Bitcoin treasury race heats up

The company also emphasizes that none of its Bitcoin holdings are encumbered by debt, with zero senior claims in its capital structure. In plain terms: nobody has a lien on Strive’s Bitcoin. If the company hits turbulence, creditors can’t seize the coins first. That’s a meaningful distinction from some other corporate holders who have used debt instruments to fund their purchases.

The dilution question

There’s a tension at the heart of Strive’s strategy that investors can’t afford to ignore. Every Bitcoin purchase funded by share issuance means existing shareholders own a slightly smaller slice of the company. The stock price might go up because the market likes the Bitcoin exposure, but the number of shares outstanding keeps growing too.

Strive’s stock has responded positively to purchase announcements so far, with that 11% jump on recent news suggesting the market is currently rewarding the strategy.

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