Strive adds 1,355 BTC toward second-place treasury goal

Strive bought 1,355 bitcoin for about $107.7 million last week, raising its total holdings to 26,355 BTC. The company paid an average of $79,475 per bitcoin between Sept. 14 and Sept. 18, according to a Form 8-K filing with the SEC. Its holdings are currently worth more than $2.25 billion, with bitcoin trading around $85,600 on Monday. Strive remains the fifth-largest public bitcoin holder, behind Strategy, Twenty One, Metaplanet and MARA. It would need another 17,160 BTC to surpass Twenty One's 43,514 BTC, assuming Twenty One does not add to its holdings. With 14 full weeks left in 2026, Strive would need to acquire roughly 1,226 BTC per week to reach second place. At the same rate, it could overtake MARA, which holds 35,577 BTC, during the latter half of November. Metaplanet holds 43,000 BTC and is behind Twenty One. The latest purchase also marked the beginning of warrant exercises tied to Strive's ASST common stock. Holders exercised nearly 786,000 warrants last week, generating approximately $21.2 million in gross proceeds. Nearly 58% of the money raised during the week came through SATA, Strive's preferred stock. SATA traded near its $100 par value on Monday. TD Cowen raised its ASST price target from $32 to $44, citing faster-than-expected bitcoin accumulation and growth in bitcoin held per fully diluted share. The firm raised its estimate for Strive's year-end 2026 holdings from 27,156 BTC to 32,105 BTC. TD Cowen analysts Lance Vitanza and Jonnathan Navarrete raised their projected full-year BTC Yield, which measures bitcoin growth per share, from 54.1% to 70.1%. ASST shares fell around 1.5% during the first hours of trading on Monday to around $29.65 after reaching as high as $31.50 in premarket trading. The update came as bitcoin climbed above $85,000 for the first time since January and gained more than 5% in the previous 24 hours. At least $648 million in short positions were liquidated during that period. Strategy then bought 950 BTC for about $75.7 million, bringing its holdings to 846,000 BTC. Strategy also spent about $174 million repurchasing STRC preferred shares.