Strive, Inc. (Nasdaq: ASST), the Bitcoin treasury company co-founded by Vivek Ramaswamy, bought 2,000 bitcoin (BTC) for about $169 million between September 28 and October 2, 2026, taking its total holdings to 29,462 BTC. The company paid an average of roughly $84,422 per coin, including fees and expenses, and funded most of the week through sales of its preferred stock and exercises of outstanding warrants.
The purchase was disclosed in a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC) on October 5, 2026. A Form 8-K is the current report U.S. public companies file to inform investors of material events.
Chairman and Chief Executive Officer (CEO) Matt Cole confirmed the figures on X the same morning, stating that 61.5% of capital raised during the period came from SATA and that warrant exercises generated $56.7 million.
The 2,000-coin buy is the largest weekly addition Strive has disclosed since its 1,800 BTC purchase in late August, which had been its biggest since the Semler Scientific merger. It is also nearly double the 1,107 BTC Strive added the prior week for $94.5 million, when holdings reached 27,462 BTC.
Quarter-End Figures Split the Latest Purchase
The filing reports two separate snapshots. As of September 30, Strive held 28,000 BTC with a fair value of $2,340.192 million and an average acquisition cost of $90,170 per coin. Cash and cash equivalents stood at $284.722 million. The company said these quarter-end numbers are preliminary and unaudited, and that its closing procedures were not yet complete.
The two snapshots show how the week’s buying was spread. Holdings rose from 27,462 BTC on September 25 to 28,000 BTC on September 30, meaning about 538 of the 2,000 coins were acquired before the quarter closed. The remaining 1,462 coins were bought on October 1 and October 2.
Based on the filing’s figures, the September 30 fair value works out to about $83,578 per coin, below the $90,170 average cost. That places the reported market value of the stack roughly $184.6 million under its aggregate cost basis as of that date.
During the three months ended September 30, Strive acquired 8,137 BTC at an average cost of $78,885 per coin. That quarterly average is below both the latest week’s price of $84,422 and the lifetime average of $90,170, so third quarter purchases lowered Strive’s overall cost basis even though the most recent week was bought at a higher price.
Amplification Ratio Target Set Above 60%
Strive reported an amplification ratio of 55.3% as of September 30. Using the filing’s figures, the ratio reflects the stated amount of Strive’s preferred stock measured against the fair value of its bitcoin holdings. The ratio stood at 53.5% in mid-September.
The company said that while bitcoin trades below $100,000, its current objective is to raise the ratio and keep it above 60%. Strive also said it intends to remain debt-free and that it views bitcoin as attractively priced at current levels. These are statements of management intent and are identified in the filing as forward-looking.
SATA Preferred Stock and the Dividend Obligation
SATA is Strive’s Variable Rate Series A Perpetual Preferred Stock, a security with no maturity date that pays holders a variable dividend and ranks ahead of common stock. According to the 8-K, 12,940,621 SATA shares were outstanding as of September 30, carrying a stated amount of $1,294.062 million and an annualized dividend obligation of $168.228 million. SATA shares outstanding rose by 1,304,902 between September 25 and October 2.
Strive also disclosed a repurchase facility of up to $500 million for SATA, which management may use if it decides a buyback serves the long term interest of the company and its shareholders.
The September 30 cash balance of $284.722 million is equal to about 1.7 years of the annualized SATA obligation. The filing does not designate that cash as a dedicated dividend reserve. Cash had stood at $248.8 million a week earlier.
Share Count Rises 3.4% as Bitcoin Holdings Grow 7.3%
Strive’s effective common shares outstanding increased from 97,651,721 on September 25 to 100,938,986 on October 2, an increase of 3,287,265 shares, or about 3.4%. Class A common stock rose from 88,453,685 to 91,708,804 shares, while Class B common stock rose from 9,198,036 to 9,230,182 shares.
Over the same week, bitcoin holdings grew about 7.3%, from 27,462 BTC to 29,462 BTC. The gap between coin growth and share growth is the per-share accretion Strive’s model is designed to produce. The comparison covers a single week and does not account for the SATA dividend claim that ranks ahead of common shareholders.
Assumed fully diluted shares outstanding (ADSO) totaled 100,716,638 as of September 30. On the 28,000 BTC held that day, the company reported 27,801 satoshis per assumed diluted share. A satoshi, often shortened to “sat,” is one hundred millionth of a Bitcoin.
Company Reported Bitcoin Metrics
The 8-K also lists the non-GAAP key performance indicators Strive tracks. Non-GAAP measures are figures that fall outside U.S. Generally Accepted Accounting Principles (GAAP).
| Metric | Quarter to date | Year to date | Last 12 months |
|---|---|---|---|
| BTC Yield | 18.5% | 63.2% | 99.4% |
| BTC Gain per ADSO | 4,336.11 sats | 10,764.11 sats | 13,855.03 sats |
| BTC $ Gain per ADSO | $3.62 | $9.00 | $11.58 |
BTC Yield measures the percentage change in bitcoin held per share over a period. BTC Gain per ADSO is the increase in Bitcoin per assumed fully diluted share, expressed in satoshis. BTC $ Gain per ADSO converts that gain into dollars using the Coinbase Bitcoin price at 4:00 p.m. Eastern Time.
The filing states that these indicators are not measures of financial performance, valuation, or liquidity, and are not “yield” or “gain” in the conventional accounting sense. They do not represent stockholder returns or income, and the quarter figures behind them remain preliminary.
Weekly Buying Pattern Since August
The October 5 disclosure extends a weekly purchase schedule funded mainly through preferred equity rather than debt:
- August 17 to 21: 1,110 BTC at $73,409 per Bitcoin, lifting holdings to 21,356 BTC.
- August 24 to 28: 1,800 BTC at $79,431 per Bitcoin, about $143 million, lifting holdings to 23,156 BTC.
- August 31 to September 4: 1,375 BTC at $79,281 per Bitcoin, about $109 million, with roughly 70% of capital from SATA.
- September 8 to 11: 469 BTC at $77,954 per Bitcoin, $36.6 million, funded entirely by SATA, taking holdings to 25,000 BTC.
- September 14 to 18: 1,355 BTC at $79,475 per Bitcoin, $107.7 million, with $21.2 million from warrant exercises.
- September 21 to 25: 1,107 BTC at $85,396 per Bitcoin, $94.5 million, with 85% of capital from SATA.
This week’s $56.7 million from warrant exercises is the largest warrant contribution in that sequence. The 61.5% share of capital raised from SATA falls between the mid-September mix and the 85% recorded the previous week.
Also Read: Michael Saylor’s Strategy (MSTR) Extends Bitcoin Buying Streak With 334 BTC Addition
