Strive, a Nasdaq treasury firm founded by Vivek Ramaswamy, scooped up 2,000 BTC worth $169 million between September 28 and October 2, 2026. Purchased at an average price of $84,422 per coin, the transaction marks the company’s largest buy in four months, surpassing its acquisition of 2,500 BTC between May and June.
The latest addition pushes the company’s total holdings to 29,462 BTC as of October 2. The entire reserve is valued at $2.5 billion based on an estimated market price of $86,000. Data from Lookonchain confirms Strive’s ongoing accumulation pattern: since August 24, the firm has absorbed 8,106 BTC from the market, deploying $659.6 million at an average acquisition price of $81,374.
SATA and a Ballooning Cost Basis
Most of the capital for the buying spree came from sales of SATA, preferred stock offering a 13% annual dividend priced at $100 per share. That funding instrument supplied 70% of the company’s capital needs during the first week of September, with its share expanding to 85% by the end of the month.
The relentless fundraising has reshaped the company’s portfolio profile. Its weekly average purchase price climbed 41% since July 2026, which helped drive a 48% surge in the total dollar value of Strive’s crypto assets. However, relying on high-yielding debt to fuel a regular buying habit carries mathematical consequences.
Strive’s average cost basis stood at $90,170 per coin at the end of September. With Bitcoin trading near $86,000 on Monday, the firm’s entire position is currently sitting on unrealized paper losses. Strive now needs a major market rally just to break even on its expensive average acquisition cost.
The Gap to Fourth Place
The latest addition places Strive fifth among public corporate Bitcoin holders worldwide. The company now sits on the Bitcoin Treasuries list directly behind Strategy, Twenty One Capital, Metaplanet, and MARA.
Strive’s asset growth took off following its decision to acquire Semler Scientific along with its 5,000 BTC reserve in September 2025. After shareholders approved the deal in January 2026, Strive’s holdings rose steadily to 14,557 BTC by late April, leaped to 20,246 BTC in mid-August, and have now reached nearly 30,000 coins.
Despite rapidly stacking coins since last year, the gap between Strive and fourth place remains substantial. Twenty One Capital currently holds 43,514 BTC, meaning Strive would need an influx of fresh capital to scoop up 14,052 more coins just to match its rival’s position.
Reported via Decrypt.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
