Strive, Inc. has been on a Bitcoin shopping spree that would make even Michael Saylor raise an eyebrow. The firm’s holdings jumped from 15,391 BTC on May 18 to 19,032 BTC by June 8, a 30.5% increase in roughly three weeks.
How Strive is funding the buying binge
The most eye-catching single transaction was a 2,500 BTC purchase valued at roughly $185 million during the May-June window. That’s not pocket change for a company that only became the first publicly traded asset management Bitcoin treasury firm after completing its merger with Asset Entities in May 2025.
Funding this kind of aggressive accumulation requires creative capital markets work. Strive raised $225 million in January 2026 through its SATA preferred stock issuance, earmarking proceeds for Bitcoin acquisitions and debt reduction. The preferred equity approach is deliberate: it lets the company raise significant capital without hammering common shareholders with dilution.
The acquisition costs tell an interesting story about discipline amid volatility. Strive’s average purchase price for Bitcoin has ranged between $63,900 and $79,350 across its various tranches. A smaller purchase between June 2 and June 7 saw the firm pick up 32 BTC at an average of approximately $63,911 per coin.
CEO Matt Cole has positioned the company around using Bitcoin as a performance benchmark rather than treating it as a speculative side bet. Strive doesn’t just hold Bitcoin on its balance sheet — it measures its entire capital allocation strategy against Bitcoin’s performance.
The stock market is paying attention
Investors have responded enthusiastically. Strive’s stock surged 133% over a three-month period ending in late May 2026.
The company now ranks among the top 10-11 public corporate Bitcoin holders globally. Strive has also diversified its Bitcoin exposure through preferred equity positions in Strategy Inc. itself, holding Bitcoin directly while also maintaining exposure through the largest corporate holder.
Strategy still holds a staggering 845,256 BTC. Strategy’s 845,256 BTC dwarfs Strive’s 19,032, but the 19,032 BTC on Strive’s books represents a treasury worth well over $1B.
What this means for investors
The risk side of the ledger shouldn’t be ignored. Strive’s average acquisition cost spanning from roughly $64K to $79K per Bitcoin means the company is exposed to meaningful downside if Bitcoin enters a sustained correction. Preferred equity holders get priority over common shareholders, which provides some structural protection for the capital raises, but common equity holders bear the full brunt of any Bitcoin price decline.