Strive Closes In on MARA After Largest Bitcoin Purchase Since January

Strive ASST bought 3,311 Bitcoin last week for roughly $280 million, lifting its treasury to 32,773 BTC as of Oct. 9, according to an 8-K filing with the U.S. Securities and Exchange Commission on Tuesday.

The company, founded by Vivek Ramaswamy, paid an average of about $84,500 per coin, including fees and expenses, for purchases made between Oct. 5 and Oct. 9. It was Strive’s largest single increase since January, when its all-stock merger with Semler Scientific added about 5,048 Bitcoin.

The purchase keeps Strive fifth among public company bitcoin holders, according to Bitcoin Treasuries data. Strategy MSTR leads with 848,250 BTC, followed by Metaplanet with 44,000, Twenty-One with 43,514 and MARA MARA with 35,577. Strive trails MARA by about 2,800 Bitcoin.

Strive CEO Matt Cole has said he wants the company to finish 2026 as the world’s second-largest public bitcoin holder. Metaplanet remains 11,227 BTC, or $937.5 million, ahead. Closing that gap by year-end would require Strive to add roughly 990 bitcoin a week on average if Metaplanet buys no more.

Since going public in September 2025, Strive has built its position through several channels. They include 5,886 BTC from initial PIPE proceeds and exchange activity, as well as at-the-market programs and follow-on offerings. The firm has also leaned on its Variable Rate Series A Perpetual Preferred Stock, known as SATA, to fund purchases.

The filing showed Strive’s cash and equivalents rising to $310.3 million from $284.7 million over the week, despite the purchase. Class A shares outstanding increased by about 9.5 million, and SATA preferred shares by 532,094. Shares underlying outstanding traditional warrants fell by about 8 million.

Strive has also been buying Strategy’s STRC preferred stock and now holds 505,000 shares. It has positioned SATA as a high-yield, bitcoin-backed instrument modeled on STRC, currently paying a 13% annualized dividend, distributed daily.

Strategy Executive Chairman Michael Saylor praised Strive’s purchase in a post on X. It was more than 13 times the 250-bitcoin Strategy added last week.

Shares of Strive ASST are currently trading at $28.17.

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