Strive Continues Stacking BTC But There’s a Catch

Dextape brief

By Dextape Desk · November 2, 2026

Strive, led by Matt Cole, disclosed a fresh bitcoin purchase of 124 BTC costing about $10 million, at an average near $80,500 per coin. Total holdings now reach 43,124 BTC. This followed the company's largest single acquisition to date, announced a week earlier, which added 6,182 units for over $511 million. According to the SEC filing, cash and equivalent reserves dropped from $504.4 million to $490.4 million, in line with what the firm said, namely that cash already on hand paid for most of the buy. Strive still holds 505,000 STRC shares, the perpetual preferred stock of Strategy, and its own preferred shares rose by 3,418 to 7,003,418. The SATS at-the-market program was used for the first time and supplied all of the week's ATM proceeds.

Why it matters: It shows how a company holding bitcoin is paying for purchases partly from its cash reserves, which shrank over the period.

Mentioned: Bitcoin

Summary by Dextape, based on reporting by CryptoPotato. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.