Strive’s Bitcoin Stash Tops $2B After a 5-Week Buying Binge – Bitcoin News

Strive Spends $107.7 Million and Somehow Ends With More Cash

Strive spent nearly $108 million buying bitcoin between Sept. 14 and Sept. 18. By Friday, its cash pile had actually grown by $25.4 million. That sounds backward until you look at the other side of the machine. While Strive bought 1,355 BTC at an average $79,475 apiece, it was simultaneously issuing common stock and its high-yield SATA preferred shares.

The result was a company raising money faster than it could send it into bitcoin. Holdings climbed from exactly 25,000 BTC to 26,355 BTC, while cash rose from $204.2 million to $229.6 million. What’s interesting is that Strive spending $107.7 million didn’t leave the bitcoin treasury firm with less cash.

The Bitcoin Machine Has Two Fuel Tanks

The mechanics aren’t particularly exotic. Strive issued another 2.07 million Class A shares during the week, pushing that count to 87.8 million. It also issued 786,194 SATA preferred shares.

SATA is the more interesting piece. Designed to hover around $100 while paying a variable dividend recently near 13%, the preferred generated roughly $78.6 million of new capital last week alone. Strive now has 11.18 million SATA shares outstanding, representing about $1.12 billion at stated value. Then comes the easy part: buying more bitcoin.

The pattern has been picking up steam. Strive bought 1,110 BTC in late August, followed by 1,800 BTC, 1,375 BTC, 469 BTC and now another 1,355 BTC. That’s 6,109 bitcoin accumulated across five consecutive reported buying periods.

From 25,000 to 26,355 BTC in One Week

The newest purchase pushed Strive’s treasury above 26,000 BTC, worth about $2.1 billion to $2.2 billion with bitcoin trading around $81,000 to $85,000 Monday morning.

Strive also bought the latest batch below its blended cost basis in the low-to-mid $90,000s. Holdings have grown more than 225% this year, placing the company fifth among publicly traded corporate bitcoin holders.

And there’s another wrinkle. Strive still owns 505,000 shares of the bitcoin treasury firm Strategy‘s STRC preferred stock, valued at around $49.7 million. In other words, the bitcoin treasury company owns billions in bitcoin while also holding preferred shares issued by the world’s largest corporate bitcoin holder.

ASST Doubles While Share Count Keeps Growing

Investors have noticed. ASST closed Friday at $30.09, up 6.4% for the session, after trading at $14.73 just one month earlier. That’s roughly a 104% move. On the flip side, zooming out changes the picture. ASST remains about 61% below its level from a year ago and more than 90% beneath its early trading peak near $355.

There’s also a price attached to Strive’s accumulation strategy that doesn’t appear in the BTC total: dilution. More bitcoin lands on the balance sheet, but more common and preferred shares enter circulation to finance it. At the same time, bitcoin’s price is becoming more costly as 2026 comes to an end.

For now, the machine keeps running. Strive raises capital, buys bitcoin, and announces a larger treasury. The stranger part is that last week it managed to spend nearly $108 million doing it and still walked away with $25.4 million more cash than it had before. How long investors remain willing to keep feeding that machine is the number Monday’s 8-K can’t provide.