Strive Buys $169M of Bitcoin in Biggest Purchase Since June

Strive (Nasdaq: ASST) purchased 2,000 Bitcoin for about $169 million between Sept. 28 and Oct. 2, its largest disclosed acquisition since June. The company paid an average of approximately $84,422 per Bitcoin, including fees and expenses. The purchase lifted Strive’s holdings from 27,462 BTC to 29,462 BTC as of Oct. 2. Its previous larger transaction was a 2,500 Bitcoin acquisition completed between May 23 and June 1.

Bitcoin Treasury Nears 30,000 BTC

Strive ended the third quarter with 28,000 BTC, acquired at an average cost of $90,170 per coin, before adding another 1,462 BTC through Oct. 2. The company purchased 8,137 Bitcoin during the third quarter at an average cost of about $78,885 and valued its quarter-end position at roughly $2.34 billion using a Bitcoin price of $83,577.

The latest Bitcoin purchase came while Strive maintained a sizable liquidity position. The company reported $284.7 million in cash and cash equivalents as of Oct. 2, an increase of $35.9 million from Sept. 25, alongside 505,000 shares of Strategy’s STRC preferred stock valued at about $50.2 million.

Strive did not identify a specific source of funds for the $169 million Bitcoin acquisition. It separately reported increases in outstanding SATA preferred shares and Class A common shares during the period, but the filing did not directly link those changes to the purchase.

Strive Plans to Keep Debt at Zero

Strive reported no debt principal balance at the end of September and said it intends to remain debt-free. At the same time, the company authorized up to $500 million of SATA preferred-stock repurchases and said it views Bitcoin below $100,000 as an attractive level for further accumulation.

This leaves its capital strategy focused on expanding Bitcoin exposure while meeting dividend and other obligations tied to its preferred stock.