Strive Passes Coinbase and Riot After New Bitcoin Treasury Buy

Table of Contents Strive has expanded its bitcoin treasury with a new 1,109 BTC purchase, moving the company ahead of Coinbase and Riot Platforms among publicly traded corporate bitcoin holders. According to Strive’s Tuesday 8-K filing, the company bought the additional bitcoin between May 19 and May 22 for about $85.4 million. The filing said Strive paid an average price of roughly $76,989 per bitcoin during the four-day purchase period. The latest acquisition raised Strive’s total bitcoin holdings to 16,500 BTC from 15,391 BTC, according to the company’s disclosure. Bitcoin Treasuries data cited in the report places Strive as the seventh-largest public company holder of bitcoin, above Coinbase Global’s reported 16,492 BTC balance. Strive’s new bitcoin total also puts it ahead of Riot Platforms, which has reduced parts of its bitcoin position this year. According to the report, Riot sold portions of its holdings to support its AI and data center expansion, including work tied to AMD. The company, founded by Vivek Ramaswamy, has continued to position itself as a bitcoin treasury firm. Its latest filing also showed that cash and cash equivalents rose to $93.3 million from $87.3 million. Strive also reported that the value of its holdings in Strategy Inc.’s STRC preferred stock increased slightly to more than $50 million. The filing added that the company had fully repaid all outstanding debt and held “zero encumbered bitcoin.” ASST shares moved higher after the disclosure. The report said Strive stock rose more than 4% on Tuesday morning and traded near $19, close to its year-to-date high. Separately, the stock was up 3% in premarket trading as bitcoin moved back near $77,000 over the weekend. Alongside its bitcoin purchase, Strive has promoted a new strategy tied to its SATA preferred shares. According to the company, SATA is expected to become the first U.S.-listed security to pay cash dividends every business day starting in mid-June. Strive said the SATA preferred shares will carry a 13% annual dividend rate. The company described the product as part of its “daily dividend company” strategy. At the same time, Tuesday’s filing said Strive is evaluating a near-term refresh of its at-the-market programs linked to both ASST common stock and SATA preferred stock. The company did not provide final terms in the filing. The report said the wording could allow Strive to raise additional capital through future equity sales. Any such capital raise would depend on the company’s final decision and market conditions. CEO Matt Cole also shared internal bitcoin performance measures in a post on X. According to Cole, Strive recorded an 11% quarter-to-date BTC yield and a 23.4% year-to-date BTC yield. ASST has gained 133% over the past three months, according to the report. However, the stock remains more than 90% below its 2025 high. Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.