Strive, Inc.

Bitcoin climbed to a 7-month intraday high of $87,395 on September 21, its strongest price since January 29, and traded at $85,326 at press time, up 4.90% over 24 hours. The rally followed a weekly close back above the 50-week moving average, a level that has historically signaled bear-market lows, and was fueled largely by a short squeeze: Coinglass data showed $746.6 million in crypto liquidations over 24 hours, with shorts accounting for $647.9 million, while market-wide trading volume rose 39% to roughly $224 billion. Sentiment and institutional flows followed the price, with Santiment recording the largest spike in bullish commentary since December 2024 at 954 mentions versus 269 bearish, the Crypto Fear and Greed Index climbing to 78, or Extreme Greed, from 70 on Monday and 69 a week earlier, and spot Bitcoin ETFs absorbing $999 million on September 21, their largest single day since October 6, 2025, lifting total net assets to $110.1 billion from $102.5 billion. Corporate treasuries also stepped up: Strive bought 1,355 Bitcoin for about $107.7 million between September 14 and September 18, raising its holdings to 26,355 Bitcoin, while Strategy disclosed a purchase of 950 Bitcoin that took its total to 846,000 coins. Two signals still flash caution, however: open interest across crypto derivatives rose 7.59% to about $156 billion even as shorts were liquidated, suggesting traders opened new positions rather than reducing risk, and the Coinbase Premium Index remains negative at -0.028, though it has recovered from deeper readings earlier in September.

Strategy has resumed purchasing bitcoin, buying 75.7 million dollars worth, but fellow crypto treasury company Strive outbought it this week with a purchase of 1,355 bitcoin at 79,475 dollars each. Strategy funded its purchase from the flexible USD cash it had raised over recent weeks rather than through new financial engineering, and also bought 174 million dollars worth of STRC while using 57.5 million dollars from its USD reserve to pay preferred dividends. Strategy ended last week with approximately 5 billion dollars in its debt-designated USD reserve for dividends and about 1 billion dollars in flexible USD cash. Strive, meanwhile, continues the playbook Strategy once used, selling shares of ASST and its preferred product Zeta and deploying the cash immediately into bitcoin, which is why Zeta has traded at or above par. The broader question is what this means for other treasury companies, whose stocks are rising with the value of their bitcoin holdings, with many suggesting the sector's biggest cure would be much higher prices across bitcoin, Solana and Ethereum.

Strive bought 469 Bitcoin last week for $36.6 million, bringing its total holdings to an even 25,000 coins. The Nasdaq-listed asset manager paid an average of $77,954 per Bitcoin between Sept. 8 and Sept. 11, according to a Form 8-K filed with the SEC on Monday, valuing the stack at roughly $1.95 billion at current prices. CEO Matt Cole said on X that 100% of the capital raised came from SATA, Strive's Variable Rate Series A Perpetual Preferred Stock, which now has over $1 billion notional outstanding, and that the company increased its amplification ratio to 53.5%. SATA shares outstanding rose by 402,541 during the period, taking the preferred stock's $100-stated notional value to roughly $1.04 billion, enough to cover the Bitcoin bill with change left over, which is why cash still ticked up from $202.6 million to $204.2 million even after the buy. The pace is a sharp comedown from the week before, when Strive bought 1,375 BTC for about $109 million between Aug. 31 and Sept. 4 at an average of $79,281 apiece, split 70/30 between SATA and common stock rather than funded entirely by preferred. Strive ranks fifth among public Bitcoin holders, behind Strategy, Twenty One Capital, Metaplanet, and MARA Holdings, according to Bitcoin Treasuries; Twenty One Capital holds 43,514 BTC, putting it 18,515 coins ahead of Strive.

Strategy, Michael Saylor's company and the largest corporate holder of Bitcoin, has skipped its weekly Bitcoin purchase to use $176 million to buy back its own STRC preferred stock. It repurchased 1.8 million shares for a total of $176.3 million between August 31 and September 7, according to a filing with the SEC, and doubled its digital credit securities buyback program to $2 billion. The company's Bitcoin holdings remain at 845,050 BTC, acquired at a total cost of $63.6 billion, averaging $75,412 per coin. Meanwhile, STRC shares traded at $97.70, a 2.3% discount to the $100 par value, but MSTR common stock fell more than 3% in recent trading. Strive, the fifth-largest Bitcoin holder, purchased 1,375 BTC worth $109 million, bringing its total holdings to 24,531 BTC. Capital B, a French company, bought $25 million worth of Bitcoin, its largest purchase in nearly a year.

Strategy, the largest corporate holder of Bitcoin, led by Michael Saylor, has paused its weekly Bitcoin purchases and instead spent $176.3 million to buy back 1.8 million shares of its STRC preferred stock, according to a filing with the SEC on Tuesday. The company also doubled the size of its digital debt buyback program from $1 billion to $2 billion. STRC is a preferred share that pays a 12% annual dividend and currently trades at around $97.70, about 2.3% below its $100 par value. Its Bitcoin holdings remain unchanged at 845,050 BTC, with a total value of $63.6 billion, at an average cost of $75,412 per coin. Meanwhile, competitors Strive and Capital B have continued to add, buying 1,375 BTC and 376 BTC respectively. MSTR shares fell 3% to around $138, despite a 45% gain over the past month, but are still down 7% year-to-date.

Strategy has resumed buying Bitcoin after a summer of selling, purchasing 4,603 BTC for $369.7 million at an average of $80,318 per coin, its first acquisition since June. The company had sold 6,948 BTC between May and August for about $432.5 million, roughly $62,250 per coin, to fund preferred dividends and buybacks when its equity funding route closed. Now that MSTR stock has recovered, Strategy sold 4,531,421 shares for $602.8 million net, allocating $369.7 million to Bitcoin, $151.8 million to STRC buybacks, $50.7 million to preferred dividends, and $30 million to cash. Other treasury companies also stepped in, with Strive adding 1,800 BTC for about $143 million and Bitmine making its largest Ethereum purchase since June. The move signals a potential shift in corporate treasury strategy as Bitcoin ETFs saw $217 million in net inflows and ETH ETFs saw $88 million.

Bitcoin continues to consolidate at high levels, with a firm undertone expected. Strategy resumed buying Bitcoin after a two-month pause, signaling improved market sentiment. The company raised approximately $600 million through a common stock offering, allocating $370 million to Bitcoin purchases, $150 million to preferred stock buybacks, $50 million to dividends, and the remaining $30 million to cash. After selling 6,916 BTC in four tranches starting June 30, it bought 4,603 BTC this time, a classic 'sell low, buy high' pattern. Meanwhile, Strive also purchased 1,800 BTC, equivalent to about 8% of its Bitcoin holdings. Deteriorating Iran tensions and rising Fed rate hike expectations cap upside, but corporate Bitcoin buying provides support. This Friday's jobs report and next week's CPI are the key focuses.

U.S. asset manager Strive announced on August 31 that it acquired 1,800 BTC for approximately $143 million (about ¥22.88 billion). According to a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC), the acquisition period was from August 24 to 28, with an average purchase price of approximately $79,431 per BTC, including fees. CEO Matt Cole revealed on X that the company's holdings increased from 21,356 BTC to 23,156 BTC, with a value of approximately $1.76 billion (about ¥281.6 billion). This makes Strive the fifth largest corporate Bitcoin holder, surpassing Bullish. Buying by crypto treasury companies has become active again. Strategy acquired 4,603 BTC from August 24 to 30 for $369.7 million (about ¥59.152 billion, average $80,318), bringing its total holdings to 845,050 BTC. Ethereum holder Bitmine also acquired 53,501 ETH in one week, bringing its holdings to 5,901,112 ETH (4.9% of supply). According to the announcement, this was worth approximately $131 million (about ¥20.96 billion), the largest purchase since June. The background is the recovery of the Bitcoin market in August, with a monthly gain of over 24%, the strongest since 2017. However, Strive's average purchase price this time is slightly above the current level, and the profit and loss on this purchase is roughly balanced. In Japan, Metaplanet holds 43,000 BTC, ranking third globally among listed companies, but its average purchase price is high at ¥15,331,542 per BTC, and it still has a long way to go to eliminate unrealized losses.

Strive (ASST) shares rose 7% to $23.20 on Monday after peer Strategy (MSTR) ended a 10-week Bitcoin purchase pause with a $369.7 million buy, even as Bitcoin itself slipped 0.5% to $78,397.57. Strategy acquired 4,603 Bitcoin between August 24 and August 30 at an average price of $80,318 per coin, bringing its total holdings to 845,050 Bitcoin, and funded the purchase by selling 4.53 million shares for $602.8 million in net proceeds. Executive Chairman Michael Saylor said the moves reduced net leverage to 0%, and the SEC disclosure followed his post: "We're back." Strive, which has adopted Bitcoin as its hurdle rate and holds the asset on its balance sheet, saw its stock jump without any company-specific news, reflecting sentiment about the corporate treasury model. However, Strive's beta of 13.19 and its 84% decline over the trailing year signal extreme reversal risk, especially after a 97% monthly gain, and Strategy's own second-quarter results carried an $8.32 billion unrealized loss on digital assets.

Strive CEO Matt Cole declared the Bitcoin bear market over after Bitcoin broke out against the U.S. dollar and gold simultaneously, sending Strive stock up 5% to $19.09 and Strategy stock up 3% to $123.05 in early Monday trading. Cole cited the dual breakout as the basis for his conviction, while Strive holds 20,246 Bitcoin at an average cost of $94,345, ranking seventh among public company holders. Separately, Strategy disclosed in an 8-K that it raised over $2 billion by selling 18,261,118 shares last week at an average of $109.88 without selling any Bitcoin, with $1.57 billion of the proceeds placed into a newly created unrestricted cash account called USD Cash. SharpLink's institutional ownership rose 12 percentage points to 60%, and Bitmine Immersion Technologies, the largest corporate Ethereum holder with more than 3.73 million ETH, also rose 3% to $23.50. The CoinShares Bitcoin Mining and Digital Power ETF slid 2% to $45 and was down 20% over the past month, underscoring the divergence between treasury vehicles and miners.

Strive, Inc. director Pierre Rochard reported a direct purchase of 15,900 shares in a SEC Form 4 filing, marking his initial entry into a direct equity position in the company. The transaction was valued at $199,386 based on a weighted average purchase price of $12.54 per share, giving Rochard an insider ownership stake of 0.0189%. Strive operates as an asset management firm focused exclusively on Bitcoin treasury strategy, and as of its latest filing reported trailing-twelve-month revenue of $8.8 million and a net loss of $1.1 billion. Shares of Strive closed at $13.20 on August 17, 2026, following a one-year return of negative 86% as of the August 14 transaction date.

Investment management giant Vanguard has increased its stake in Bitcoin treasury company Strive Asset Management, adding more than 269,000 shares through one of its flagship index funds. The move expands institutional exposure to Bitcoin-linked equities as the $12 trillion asset manager deepens its involvement in the sector.

Bitcoin treasury companies Strategy and Strive are calling STRC and SATA’s perpetual preferred stocks “digital credit.” Strive CEO said digital credit could become a $3 trillion market, aligning with similar views from Michael Saylor.

Bitcoin is trading about 1.30% higher near $65,000 on Monday, recovering from a weekly drop of over 2% that took it close to $62,280. Bitcoin spot ETF data on June 18 recorded $90.66 million in outflows, and total weekly ETF net outflows hit nearly $226.84 million, signaling more capital exiting Bitcoin-linked funds than entering. Strategy reported its USD reserve rose to $1.4 billion as of June 21, up from $1.1 billion a week earlier, after selling 2.71 million Class A shares via its ATM program for about $335.5 million in net proceeds, yet it bought only $34.9 million worth of Bitcoin in the prior week, adding 520 tokens at roughly $67,100 each to bring holdings to 847,400 BTC. Separately, Strive added 759 BTC for nearly $50 million at an average price of about $65,850. On the macro side, Bank of America now expects three Federal Reserve rate hikes this year, reversing its earlier no-change view, with 25-basis-point increases in September, October, and December taking rates to 4.25%–4.5% by year-end and no cuts until 2028, though Kalshi markets price a 25% chance of a July hike and Polymarket sees a 61% probability of at least one hike next year, keeping uncertainty high around liquidity conditions and crypto sentiment.