Strive Acquires 1,110 BTC in $81.5M Deal, Total Reserve Exceeds 21K Bitcoin; ASST Stock Jumps 11%
The Bitcoin treasury firm's shares on Nasdaq rallied over 11% following its announcement of acquiring additional Bitcoin at an average cost of $73,409 per coin, elevating total reserves to 21,356 BTC.
In a recent acquisition, Strive added 1,110 Bitcoin to its treasury for approximately $81.5 million during the previous week, elevating its aggregate Bitcoin holdings to 21,356 BTC. Based on a filing submitted Monday to the US Securities and Exchange Commission, the firm spent an average of $73,409 for each Bitcoin (BTC), a figure that encompasses all associated fees and expenses, with the transactions occurring between Aug. 17 and Aug. 21.
During the same timeframe, Strive's cash and cash equivalents experienced an uptick of $17.1 million, reaching $171.9 million, while the number of outstanding Class A shares grew by 3.65 million to reach 79.89 million. On Monday, Bitcoin was changing hands around $79,000, representing approximately 8% above the average acquisition price Strive paid during its most recent buying spree.
This acquisition elevated Strive to become the seventh-largest publicly listed corporate Bitcoin holder, positioning it behind Bullish while surpassing SpaceX, based on information from BitcoinTreasuries.NET data. The company's ASST shares, which trade on Nasdaq, climbed more than 11% during Monday's morning session, positioned to build upon their approximately 36% year-to-date appreciation, based on data from Yahoo Finance.
The upside is not simply Bitcoin going higher. It is Bitcoin becoming the fastest horse inside an expanding scarcity trade while $ASST is structured to amplify that outcome as much as we can responsibly support.
CEO Matt Cole
The company runs a Bitcoin treasury strategy in conjunction with an asset management division that oversees close to $3 billion spanning exchange-traded funds and a direct-indexing platform, based on company information.
Additionally, the firm maintained a position of 505,000 shares in Strategy's STRC preferred stock with a valuation of $48.6 million as of Aug. 21.
Strive's SATA returns to $100 par
Shares of SATA concluded Friday's trading session at $100.01, achieving a return to management's intended trading corridor of $99-to-$101 following a decline to as low as $83.30 during the latter part of June. The company tightened this range from $95-$105 down to $99-$101 in March and announced it would refrain from issuing SATA via at-the-market or follow-on offerings at prices below $100.
The company introduced SATA in November 2025, initially distributing 2 million shares priced at $80 per share, generating $160 million in gross proceeds. This variable-rate perpetual preferred stock carries a stated amount along with an initial liquidation preference set at $100 per share.
In contrast to Strive's common stock, SATA functions as an income-oriented product, featuring a variable dividend rate that's designed to maintain share prices in proximity to $100. The company increased the annualized dividend rate to 13% in April and transitioned from a monthly distribution schedule to daily dividend payments starting June 16.
SATA shares similarities with STRC, which is the variable-rate perpetual preferred stock distributed by Strategy, the globe's largest corporate holder of Bitcoin. On Monday, STRC was trading in the vicinity of $97, beneath Strategy's $100 target price point, while Strategy disclosed zero Bitcoin acquisitions for the week that concluded Aug. 23.