Strive Expands Bitcoin Treasury to 36,818 BTC Ahead of $700 Million SATS Settlement

Strive (Nasdaq: ASST) expanded its treasury holdings to 36,818 $BTC after acquiring 1,223 bitcoin between Oct. 14 and Oct. 16, according to a Form 8-K filed with the US Securities and Exchange Commission on Monday ¹. The Dallas-based firm paid an average of about $81,734 per coin, inclusive of fees and expenses, capping off a weekly acquisition total of 4,045 BTC bought at an average price of roughly $82,803 ¹. Strive previously disclosed buying 2,822 BTC on Oct. 12 and Oct. 13, having started the period with 32,773 BTC on Oct. 9 ¹. At the time of writing, bitcoin traded at $82,473.

Alongside the crypto asset purchases, Strive reported $317.5 million in cash and cash equivalents, up from $310.3 million ¹. The company also holds 505,000 shares of Strategy’s STRC preferred stock, which were valued at $49.3 million as of Oct. 16 ¹. The filing revealed that Strive no longer has outstanding traditional warrants ¹. Warrant holders exercised 273,493,909 contracts on Oct. 12 and Oct. 13 for 13,674,703 Class A shares—yielding $369.2 million in gross proceeds—while the remaining unexercised warrants from its September 2025 merger with Asset Entities lapsed on Oct. 13 ¹. The exercises lifted Strive's Class A share count to 114,847,610 ¹.

Preferred Stock Settlement

Attention now shifts to the settlement of Strive's new perpetual Series A preferred stock, known as SATS, scheduled for Tuesday, Oct. 20, subject to closing conditions ¹. The company filed to offer the preferred shares to fund corporate balance-sheet expansion, ultimately pricing 7 million shares at $90 each on Oct. 15 ¹. The transaction carries a stated amount of $700 million and is projected to deliver roughly $630 million in gross proceeds before underwriting discounts and expenses ¹.

Strive designated the offering's net proceeds for purchasing additional bitcoin and bitcoin-related products, alongside general working capital ¹. To support the 15% dividend yield, the company plans to fund an 18-month dividend reserve at closing, setting aside $22.50 per SATS share using available cash and securities, a plan reaffirmed on Monday by CEO Matthew Cole ¹.