- Strive bought 3,311 BTC last week, bringing its total to 32,773 BTC, valued at about $2.7 billion.
- The company proposed an IPO of SATS, a new perpetual preferred stock, targeting $500 million through 5 million shares at $100 each.
- SATS would pay a fixed 15% dividend daily, rank behind SATA, and come with a reserve covering 18 months of dividends.
- Warrant exercises brought in $208 million, with about 15.3 million warrants set to expire at 5 p.m. ET on October 13.
Strive, Inc. bought 3,311 Bitcoin (BTC) last week, lifting its total holdings to 32,773 BTC. Chairman and CEO Matt Cole announced the purchase on October 13, 2026. On the same day, the company unveiled a proposed initial public offering of SATS, a new perpetual preferred stock.
Last week, Strive acquired 3,311 $BTC, increasing total holdings to ₿32,773.
– $208M in warrants exercised; ~15.3M remain, expiring today at 5pm ET.
– SATA’s $100 minimum issuance price is now a binding restriction in governing docs, formalizing the protection.$SATA $ASST https://t.co/YKGWy4eLN8
— Matt Cole (@ColeMacro) October 13, 2026
It aims to sell 5 million shares at $100 each, raising $500 million, with Bitcoin purchases among the intended uses. Strive is a Bitcoin treasury company that runs an asset management arm. It is also working through a warrant deadline that fell on the same day.
Bitcoin Holdings Climb To 32,773 BTC
At a Bitcoin price of $82,300 at 4 p.m. EST on October 9, the treasury was worth about $2.7 billion. Cole shared the update on X and pointed readers to two Form 8-K filings with the U.S. Securities and Exchange Commission (SEC). One covers the weekly capital markets update, and the other deals with developments in the company’s preferred stock.
Source: sec.gov
The new total follows 29,462 BTC reported as of October 2, after a 2,000 BTC purchase between September 28 and October 2. Earlier updates put holdings at 27,462 BTC and 26,355 BTC. According to CoinDesk, Strive held fewer than 20,000 coins three months ago. The report also notes that, unlike many Bitcoin treasury firms, including far larger peer Strategy, Strive has been able to grow its holdings sharply in recent weeks.
How Strive Funds Purchases
Strive describes itself as a structured finance company and institutional asset manager that uses Bitcoin as its hurdle rate for deploying capital. It went public in September 2025 through a reverse merger and later acquired Semler Scientific, which added to its Bitcoin stack.
A registered investment adviser subsidiary manages assets across exchange-traded funds and other vehicles, giving the company operating revenue on top of its Bitcoin accumulation.
Most of the buying has been paid for with common equity sales and the company’s Variable Rate Series A Perpetual Preferred Stock, traded under the ticker SATA. SATA is built to trade near a $100 stated amount and pays a variable cash dividend, currently 13%.
The company says it has kept a debt-free balance sheet throughout. Cole added that SATA’s $100 minimum issuance price is now a binding restriction in Strive’s governing documents, so no new SATA shares can be issued below that level.
Warrant Exercises Bring In $208M
Strive reported $208 million in warrant exercises tied to the latest capital activity. Roughly 15.3 million warrants were still outstanding and set to expire at 5 p.m. ET on October 13, according to Cole’s announcement and the related filing.
Warrants have been a steady funding source alongside SATA sales. In the previous week’s update, they contributed $56.7 million, while SATA made up 61.5% of the capital raised for that week’s Bitcoin purchase. Earlier filings also disclosed a repurchase facility of up to $500 million for SATA shares.
SATS Offering Targets $500M
SATS would offer a fixed 15% dividend yield at par, compared with SATA’s variable rate. It would rank junior to SATA and, like SATA, pay dividends daily. Strive plans to sell 5 million shares at $100 apiece. Proceeds are earmarked for buying more Bitcoin, acquiring income-producing assets or repurchasing stock.
When the offering closes, the company intends to set up a dividend reserve covering the first 18 months of SATS dividend payments. The offering was announced as proposed, so it has not yet been completed.
Earlier Purchase Figures Add Context
Strive’s filings show it acquired 8,137 Bitcoin at an average cost of $78,885 earlier in the third quarter. As of September 30, 2026, it held 28,000 Bitcoin with a fair value of about $2.34 billion, along with $284.7 million in cash and cash equivalents. Its average acquisition cost stood at $90,170 per Bitcoin. Investors can find the full details in the two Form 8-K filings referenced in the October 13 update.
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