Strive Inc. (ticker: ASST) held 23,156 BTC as of August 28, positioning it among the top five publicly traded Bitcoin holders globally. CEO Matt Cole has signaled that the company could push well past 27,000 BTC before the year closes out.
From 5,000 to 23,000 BTC in under a year
In fall 2025, the company held roughly 5,000 BTC. By June 2026, that figure had crossed 20,000, vaulting Strive into the top five among public companies.
During the last week of August alone, Strive scooped up 1,800 BTC for approximately $143 million.
The firm came into existence through a reverse merger with Asset Entities and the acquisition of Semler Scientific, a combination that gave it both a public listing and a clear mandate: accumulate Bitcoin.
The financing trick that makes it work
Rather than taking on debt or diluting common shareholders through secondary offerings, the company uses its Variable Rate Series A Perpetual Preferred Stock, trading under the ticker SATA.
By June 2026, Strive had expanded SATA’s capacity by $4.2 billion. The result is a balance sheet that carries zero debt while maintaining ample reserves for preferred stock dividends.
TD Cowen raised its year-end BTC forecast for Strive to 27,156, reflecting confidence in the firm’s treasury trajectory, and analysts there have also bumped up their stock price targets accordingly.
Cole’s thesis: Bitcoin’s strongest cycle yet
Matt Cole has described the current market environment as potentially Bitcoin’s strongest cycle to date, pointing to structural demand for scarce assets amid persistent inflationary pressures.
The risks are real. Bitcoin’s price could decline substantially, leaving Strive holding a depreciating asset while still owing preferred dividends.
With 23,156 BTC already on the books and a stated target that implies acquiring another 4,000 or more coins before December, Strive is making one of the largest concentrated bets on Bitcoin in corporate history.