Strive has used similar tracker posts before announcing additions to its Bitcoin treasury. Cole did not state how many coins the company may have purchased, how much it may have spent, or when a transaction took place, leaving any new acquisition unconfirmed until Strive releases an announcement or filing.
The hint follows Strive’s purchase of 1,800 $BTC between Aug. 24 and Aug. 28. According to a U.S. Securities and Exchange Commission Form 8-K, the company paid an average of $79,431 per coin, including fees and expenses, bringing the total cost to about $143 million.
As crypto.news previously reported, the transaction increased Strive’s Bitcoin holdings from 21,356 $BTC to 23,156 $BTC. BitcoinTreasuries.net ranked the Dallas-based company as the fifth-largest publicly traded corporate Bitcoin holder, ahead of Bullish and behind Strategy, Twenty One Capital, Metaplanet, and MARA Holdings.
At a Bitcoin price of roughly $76,400 when the purchase was disclosed, the company’s holdings were valued at approximately $1.77 billion. Strive did not provide the combined acquisition cost for its entire treasury in the filing, while the market value of the position continues to move with Bitcoin’s price.
The 1,800-$BTC purchase came one week after Strive added another 1,110 $BTC for $81.5 million. Its average price for the earlier transaction was $73,409 per coin, meaning the company spent approximately $224.5 million to acquire 2,910 $BTC across the two reporting periods.
Strive targets second place among Bitcoin treasury firms
Building on those purchases, Cole has said Strive could acquire more than 20,000 additional $BTC and finish the year as the second-largest corporate Bitcoin holder behind Strategy.
“It’s not out of the realm of possibility for Strive to end the year as the 2nd-largest $BTC holder,” Cole said.
Reaching that position would require Strive to move past Twenty One Capital, Metaplanet, and MARA Holdings based on the rankings cited after its latest confirmed purchase. The target also depends on acquisitions made by competing treasury companies, since several firms continue to raise capital for Bitcoin.
Cole has maintained an optimistic view of the asset during its recent recovery. In August, he said Bitcoin’s next cycle could become its strongest after the cryptocurrency gained 22.7% in one week and closed at $77,387.
During the same period, U.S. spot Bitcoin exchange-traded funds recorded $1.92 billion in net inflows, according to SoSoValue data. Cole linked his forecast to Bitcoin’s performance against the dollar and gold, along with investor demand for assets with limited supplies.
“Bitcoin priced in gold is reinforcing my view that the next Bitcoin cycle will be the strongest we have ever seen,” he said at the time.
Cole acknowledged that Bitcoin could pull back after its rapid advance, but said Strive remained willing to add exposure. In a separate August statement, he described Bitcoin as “historically cheap in this price range” and said the company felt comfortable accepting more risk to purchase additional coins.
Bitcoin has since recovered from around $63,000 to a recent high near $82,000, according to market data cited in the supplied report. The increase has raised the value of existing corporate holdings while supporting stocks whose market performance is closely tied to Bitcoin.
ASST stock leads major Bitcoin treasury companies
At the time of writing, ASST is climbing above $27 to its highest level of the year. The common stock has gained more than 78% since the start of 2026 and nearly 120% over the past month, making it the strongest performer among the 10 largest Bitcoin treasury companies during the cited period.
Strive’s rally has outpaced other companies in the same group. Strategy shares gained more than 45% during the past month but remained down over 7% for the year, while Metaplanet advanced more than 22% in the month and stayed over 37% lower year to date.
ASST gives investors exposure to Strive’s common equity rather than direct ownership of its Bitcoin. Its price can respond to changes in $BTC, the size and cost of Strive’s treasury, operating results, financing expenses and the number of shares outstanding.
The structure has particular relevance for U.S. investors because both ASST and Strive’s preferred security, SATA, trade on Nasdaq. Investors can therefore gain exposure through regulated U.S.-listed securities, although the two instruments carry different rights and risks.
ASST holders own common equity and sit behind preferred shareholders in the company’s capital structure. SATA investors receive preferred dividends when declared, while its perpetual structure means the security has no scheduled maturity.
A recent SEC filing showed Strive’s Class A share count increasing by 3.58 million during the week of its 1,800-$BTC purchase, from 79.89 million to 83.47 million. Effective common shares outstanding reached 93.26 million, while the assumed fully diluted count climbed to 96.52 million.
SATA could support another Strive Bitcoin purchase
Strive has funded its Bitcoin strategy through at-the-market programs for ASST and SATA, allowing appointed sales agents to issue shares gradually instead of arranging a single underwritten offering.
SATA has recently traded around its $100 par value, which can make additional issuance more practical because Strive can sell preferred shares without pricing them below their stated liquidation preference. The security carries a variable dividend and pays cash distributions every business day when declared.
In late August, BitcoinTreasuries.net estimated that SATA trading had generated enough potential funding capacity for about 1,192 $BTC in one week. The estimate relied on trading volume at or above $100 and an assumed capture rate based on Strive’s earlier SEC filings; it did not confirm that the company had issued the shares or purchased the projected number of coins.
Strive increased its available at-the-market capacity in June to as much as $2.6 billion for SATA and $2.55 billion for ASST. Within the latest reporting period, SATA shares outstanding rose by 803,099 to 9.07 million, giving the preferred stock an implied aggregate liquidation value of about $907.4 million.
The company did not specify how much of its latest Bitcoin purchase came from ASST sales, SATA issuance, or existing cash. Its filing showed that both common and preferred share counts increased while the acquisition was completed.
Strive reported a second-quarter GAAP net loss of $257.6 million, including $234 million linked to lower fair values for its Bitcoin and Strategy STRC positions. As of Aug. 7, the company held $154.9 million in cash, about $48 million of STRC preferred shares, and no short- or long-term debt.
The company’s second-quarter filing also recorded $26.2 million in SATA dividends within its adjusted net loss attributable to common shareholders. Strive identified possible dilution from additional ASST or SATA issuance as a risk, while SATA creates a continuing preferred-dividend obligation because the shares are perpetual.
