Strive Lifts Bitcoin Holdings to 36,818 BTC Ahead of $700 Million SATS Settlement

Strive (Nasdaq: ASST) now holds 36,818 bitcoin after buying 1,223 BTC between Oct. 14 and Oct. 16, the company disclosed in a Form 8-K filed Monday, paying an average of about $81,734 a coin, fees and expenses included.

That purchase completes a week in which Strive added 4,045 BTC in total, at an average of roughly $82,803. The first 2,822 BTC of the week, bought on Oct. 12 and Oct. 13, had already been announced on Oct. 14. Strive held 32,773 BTC as of Oct. 9.

Over the same stretch, cash and cash equivalents rose to $317.5 million from $310.3 million. The Dallas-based company also holds 505,000 shares of Strategy’s STRC preferred stock, valued at $49.3 million as of Oct. 16.

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The filing shows Strive no longer has any traditional warrants outstanding. Holders exercised 273,493,909 of them on Oct. 12 and Oct. 13 for 13,674,703 Class A shares, bringing in roughly $369.2 million in gross proceeds, a figure Strive had disclosed earlier. The remainder, which Strive took on in its September 2025 merger with Asset Entities, lapsed unexercised on Oct. 13.

Those exercises pushed Strive’s Class A share count to 114,847,610 from 101,169,907.

The next step is settlement of Strive’s new preferred stock. On Oct. 15, the company priced a 7 million-share offering of its new SATS preferred, a perpetual Series A security paying a 15% dividend, at $90 a share. The deal has a $700 million stated amount and is expected to raise about $630 million before underwriting costs and expenses. It is scheduled to settle Tuesday, Oct. 20, subject to customary closing conditions. No SATS shares were outstanding as of Oct. 16.

In its pricing release, Strive said it intends to increase its existing dividend reserve at closing to cover the first 18 months of SATS dividend payments, setting aside the equivalent of $22.50 for each SATS share from cash and securities it holds. Monday’s 8-K does not mention the reserve. Strive CEO Matthew Cole wrote in an X post the same morning that “Strive plans to maintain current 18-month dividend reserve.”

The pricing release listed the purchase of bitcoin and bitcoin-related products among the planned uses of the offering’s net proceeds, alongside working capital and other general corporate purposes.

Related Listen: Why Matt Cole Believes Last Week’s STRC Crash Was a Leverage Liquidation

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