Strive Scoops 1,110 Bitcoin as Its BTC Treasury Blasts Higher

Strive grabbed another 1,110 bitcoin for $81.5 million last week, pushing its holdings to 21,356 BTC as the asset manager keeps feeding investor capital straight into its expanding digital asset treasury (DAT) strategy.

The company bought bitcoin between Aug. 17 and Aug. 21 at an average price of $73,409 per coin, including fees and expenses. Chairman and CEO Matt Cole announced the transaction Monday, pointing investors toward Strive’s regulatory filing for the finer details.

But that money is not free. Strive’s Class A common shares outstanding jumped by roughly 3.65 million to about 79.9 million, while SATA preferred shares increased by approximately 441,000. Common and preferred equity issuance continues doing the heavy lifting behind its bitcoin buying spree.

Its treasury took another leap in early 2026 when Strive completed its all-stock acquisition of Semler Scientific. That deal dropped approximately 5,048 BTC onto its balance sheet in one shot, catapulting the company into the upper ranks of publicly traded corporate bitcoin holders.

Instead of leaning heavily on convertible debt, Strive has favored common stock and SATA, its Variable Rate Series A Perpetual Preferred Stock. The trade is straightforward: raise capital below bitcoin’s long-term appreciation and use that spread to put more bitcoin behind each share over time.

That math matters because every new share brings dilution. Strive tracks bitcoin-per-share performance and what it calls “Bitcoin Yield,” a metric showing whether its BTC accumulation is actually outrunning the steady expansion of its share count.

The equation gets uglier when bitcoin falls or financing gets expensive. Bitcoin remains volatile, and every additional common or preferred share raises the bar for how efficiently Strive must deploy capital to keep its per-share bitcoin numbers heading in the right direction.

Strive also has another engine running underneath the operation. The company manages nearly $3 billion across exchange-traded funds (ETFs) and other investment products, generating fee revenue alongside its bitcoin treasury play. Still, BTC has increasingly swallowed the spotlight on its balance sheet and among investors.

What happens next comes down to whether Strive can keep tapping capital markets without letting dilution outrun bitcoin per share. With Cole still deploying fresh money into BTC, the numbers to watch are equity issuance, SATA financing, cash reserves and the next bitcoin buy as Strive tests how long this accumulation machine can keep running.