Strive outbuys Strategy 6-to-1 as it closes in on No. 2 public Bitcoin holder

Strive (NASDAQ: ASST) continued its march toward the number two spot on the corporate Bitcoin holders leaderboard as Matt Cole disclosed the firm’s third-largest Bitcoin purchase, paying $169 million to add roughly 2,000 BTC to its stack.

Michael Saylor’s Strategy (NASDAQ: MSTR), on the other hand, bought 334 BTC for almost $29 million, pushing the firm’s record BTC reserve to 848,000 BTC.

The Strive purchase disclosed on October 5 is about six times the amount Strategy reported in its SEC filing for the period between October 1 and 4.

Strategy extends BTC reserve record

The 8-K filing sent to the SEC by Michael Saylor’s Strategy revealed that the firm wrote a $28.7 million check to grow its BTC stack by 334 tokens, paying an average of $85,838.80 per unit. Strategy’s Bitcoin reserve is now at 848,000 BTC, extending what is already a record stash at 847,666 BTC.

Strategy funded the $28.7 million outlay with $15.7 million raised from selling 92,894 MSTR shares and $13 million from the firm’s U.S. dollar cash.

The bigger headline was how much Strategy spent buying back its own STRC preferred stock: $73.7 million for 740,634 STRC. It spent $102.6 million on the same buybacks the week before, as reported by Cryptopolitan.

The Saylor-led firm estimated a $20.91 billion gain on its digital asset holding during the quarter that ended September 30.

Strive bought 6x the amount of BTC Strategy bought

Strive, on the other hand, is on a hotter BTC accumulation streak, which it extended by adding another 2,000 BTC, the third-largest purchase by the firm. That disclosure also amounts to roughly six times the Bitcoin Strategy bought in the same early-October window.

Strive, led by CEO Matt Cole, has leaned on large weekly buys where Strategy’s growth rate has flattened under the weight of its own stash. As Cryptopolitan reported on September 21, Strive added 1,355 BTC for $107.7 million at an average of $79,475, a purchase larger than the 950 coins Strategy disclosed the same day.

Earlier runs included 1,800 coins in late August and a 469-coin buy that pushed the firm past 25,000 BTC.

How far Strive still has to climb

Strive ranks fifth among public corporate Bitcoin holders as of October 5 with 29,462 BTC, behind Strategy, Tether-backed Twenty One (43,514 BTC), Metaplanet (44,000 BTC) and MARA (35,577 BTC).

Second place is Strive’s stated year-end target, riding on an accumulation train powered mostly on SATA, its Variable Rate Series A Perpetual Preferred Stock, which pays a daily dividend and crossed $1 billion in notional value, according to Cryptopolitan.

Warrant exercises tied to its common stock added roughly $21.2 million in gross proceeds, and counting that money, SATA made up 57.7% of the capital Strive raised in its September buying week.

Strategy, by contrast, is funding Bitcoin buys through a mix of equity sales and cash while directing most of its firepower toward preferred-share repurchases and dividend coverage.

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