Strive Raises Bitcoin Holdings to 36,818, Prepares Offering to Raise $630 Million
Key Facts
Strive increased its disclosed holdings to 36,818 bitcoin as of October 16, 2026, after purchasing an additional 1,223 bitcoin, according to its October 19 filing with the U.S. Securities and Exchange Commission. The latest purchase had an average cost of about $81,734 per bitcoin, including fees and expenses associated with the purchase. It formed part of purchases totaling 4,045 bitcoin in the week preceding the filing, according to Cointelegraph. The approximate total cost of those weekly purchases reached $335 million. The expansion in bitcoin holdings coincided with funding from warrant exercises and the pricing of a preferred stock offering that the company expects to raise about $630 million before offering discounts and expenses.
The average cost of purchases in the latest week was $82,803 per bitcoin, including fees and expenses, according to Cointelegraph, higher than the average for the latest purchase alone. Those purchases followed an earlier acquisition disclosed by Strive, in which it bought 3,311 bitcoin at an average cost of about $84,500 per bitcoin. The average cost of that earlier purchase also included fees and expenses, according to the SEC filing. The earlier purchase was executed between October 5 and 9, followed by two purchases between October 12 and 16. The average purchase cost thus declined between the earlier acquisition and the following week, while the average for the latest purchase was below the weekly average that included it.
On the financing side, gross proceeds from the exercise of traditional warrants totaled about $369.2 million, according to Strive's latest filing. The company said there were "no traditional warrants outstanding" after the warrants were exercised or expired. The number of Class A common shares rose to 114,847,610 from 101,169,907 in the weekly comparison, alongside the increase in bitcoin holdings. Cash and cash equivalents also increased to $317.5 million from $310.3 million during the same week, according to the table in the filing. In an investor presentation filed with the SEC, Strive said the warrant exercises reduced the amplification ratio of its common stock's bitcoin exposure. The company linked that decline to the timing of its SATS preferred stock offering, citing it as one of the reasons for the offering.
In its official pricing statement, Strive set the size of the SATS offering at 7,000,000 preferred shares, at a public offering price of $90 per share. Expected gross proceeds total about $630 million, before underwriting discounts and commissions and issuance expenses. The shares carry cumulative dividends at a fixed annual rate of 15.00%, according to the terms announced to investors. That rate is calculated on the stated value of $100 per share, while the sale price to subscribers was set at the lower level specified in the pricing announcement. SATS shares rank junior to SATA shares and senior to ASST common shares within Strive's capital structure, according to the investor presentation filed with the SEC.
To meet dividend obligations, Strive intends to increase its dividend reserve when the offering closes, according to its official pricing statement. The increase is intended to cover the first 18 months of dividends on the new preferred shares, as part of the financing arrangements announced by the company. The amount it intends to allocate for this purpose equals $22.50 for each SATS share offered. Strive said it would use existing cash and securities to increase the dividend reserve at closing. The preferred stock offering is thus accompanied by an allocation of some of the company's existing resources to a reserve for payments to holders of those shares, alongside the recent expansion in bitcoin purchases.
Settlement of the SATS offering is scheduled for October 20, 2026, according to the date specified in Strive's official statement, subject to customary closing conditions. The company intends to increase the dividend reserve at that closing, as part of the arrangements associated with completing the offering. Following the scheduled settlement, regular dividend payment dates for the new shares begin on November 9, 2026, according to the announced terms. Those dividend payment dates fall on each business day, subject to declaration by the company's board of directors. Strive also requires that dividends be paid from funds legally available for that purpose, according to the offering statement setting out the start date and conditions for payments.