Strive purchased 1,800 Bitcoin (BTC) at an average price of approximately $79,431 between August 24 and August 28, according to a Form 8-K filed on Monday, lifting its holdings to 23,156 BTC in a purchase worth roughly $143 million.
It is the company’s largest single disclosed purchase since the 5,816 BTC it bought alongside the Semler Scientific merger announcement in September 2025.
The purchase landed in the same week that Strategy returned to buying after a two-month pause, acquiring 4,603 BTC for $370 million at an average of roughly $80,380. Between them, the two treasuries deployed about $513 million over five trading days, at average prices within $1,000 of each other.
The Pace Changed Sharply
Strive’s weekly deployment has moved by more than an order of magnitude in a month.
Between July 20 and July 24, the company bought 79 Bitcoin for about $5.2 million, at an average of $65,723, crossing 20,000 BTC in the process. Five weeks later it deployed roughly 27 times that amount in a single week.
The average prices across its disclosed purchases trace the market it has been buying into. Strive paid $116,047 per Bitcoin in September 2025 when it acquired 5,816 BTC for $675 million, $91,561 in January 2026 on a 123-coin purchase, $65,723 in late July, and $79,431 last week.
How It Was Funded
The filing shows the mechanism directly. Strive’s cash and cash equivalents rose from $171.9 million to $183.5 million over the same period in which it spent roughly $143 million on Bitcoin.
Class A shares outstanding increased by 3,579,147, from 79,890,888 to 83,470,035. SATA preferred shares increased by 803,099, from 8,270,815 to 9,073,914. Class B shares were unchanged.
That reflects the funding model the company has described publicly: raising capital primarily through its SATA perpetual preferred stock to reduce reliance on common share issuance. SATA launched in November 2025 with a 12% annual dividend paid monthly, which the company has since raised to approximately 13%.
Strive has framed this as a preferred-equity-first approach that avoids the debt maturity risk attached to leveraged bitcoin strategies.
Dilution Against Bitcoin Per Share
Effective common shares outstanding rose from 89,683,423 to 93,262,570, a 4.48% increase in one week. Assumed fully diluted shares rose from 92,949,226 to 96,523,351.
Measured against holdings, bitcoin per effective common share moved from roughly 0.000238 to 0.000248—an increase of about 4.3%.
That comparison is the test the model sets for itself. Issuing shares to buy bitcoin only works for existing holders if the bitcoin added outpaces the dilution, and on this week’s filing it did, narrowly.
The Strategy Position
The filing also discloses that Strive holds 505,000 shares of Strategy Inc.’s Variable Rate Series A Perpetual Stretch Preferred Stock, carried at a fair value of $49.15 million, up from $48.57 million a week earlier. The holding was unchanged in size.
The timing is worth noting. In the same week Strive’s STRC holding appreciated, Strategy repurchased $152 million of that security, and Saylor said the buyback tightened STRC’s Bitcoin credit spread to 56 basis points from 59. Strive’s 505,000 shares rose $581,000 in value over the period without any change in position size.
That places one Bitcoin treasury company as a holder of another’s preferred stock. Strive has previously been described as aligning its approach with Strategy, the largest corporate Bitcoin holder.
Where Strive Stands
Strive completed its all-stock acquisition of Semler Scientific in January 2026, folding in 5,048.1 Bitcoin and reaching 12,797.9 BTC. It ranked seventh among public corporate holders as of late July.
Founded in 2022 by Vivek Ramaswamy, the company describes itself as the first publicly traded asset management bitcoin treasury company. Management has said Semler’s diagnostics business is not central to long-term plans and that it expects to monetize the operating business and redeploy capital toward bitcoin-related initiatives.
The Market They Bought Into
Bitcoin traded at $78,400 as of 12:15 PM UTC on August 31, according to CoinGecko data, placing both treasuries’ latest purchases slightly above the prevailing market.
The price has recovered from summer lows near $58,000 to $63,000. That rally was driven by institutional rather than retail flows, with bitcoin ETFs taking in $2.8 billion over two weeks as the price tested $80,000.
