Strive, Inc. acquired 2,500 Bitcoin for $185.2 million on June 2, 2026, bringing its total treasury holdings to 19,000 BTC, according to an SEC Form 8-K filing. The Dallas-based company, which trades under ticker ASST, purchased the coins at an average price of $74,092 per coin.
The acquisition marks the latest expansion of Strive’s Bitcoin treasury under CEO Matt Cole, who joined the company after managing a $70 billion portfolio at CalPERS. Since the September 2025 merger between Asset Entities Inc. and Strive Enterprises, the company has accumulated from zero to 19,000 BTC in less than one year using equity offerings and preferred stock issuance.
Strive funded the purchase through its capital markets activity, including Variable Rate Series A Perpetual Preferred Stock (SATA), which trades on Nasdaq and targets a $99 to $101 range. The company plans to expand its at-the-market fundraising programs by $4.2 billion, with $2.1 billion earmarked for common stock offerings and $2.1 billion for additional SATA preferred shares.
The filing disclosed $137.3 million in cash on Strive’s balance sheet as of June 2, reflecting a $44 million increase over the measurement period. Strive maintains an 18-month dividend reserve and plans to make SATA the first U.S.-listed security to pay cash dividends every business day at a 13% annual rate, equivalent to a 13.88% effective yield.
Bitcoin’s performance in the measurement period supported Strive’s treasury strategy. The asset delivered a 23.0% quarter-to-date yield and 36.7% year-to-date yield, with Strive framing its financial performance in bitcoin-denominated terms rather than dollar returns.
The move follows a divergent strategy by MicroStrategy (MSTR), Strive’s larger competitor in corporate Bitcoin accumulation. MicroStrategy offloaded 32 BTC between May 26 and May 31 at an average price of $77,135 per coin, generating $2.5 million in proceeds to fund preferred stock dividends. MicroStrategy maintains a $900 million reserve for preferred dividends and holds 843,706 BTC in total, making it the largest corporate holder by volume.
Strive launched in 2022 as an anti-ESG asset manager founded by Vivek Ramaswamy. The company’s Bitcoin accumulation strategy represents a shift from traditional asset management into direct cryptocurrency treasury operations, a model that has gained adoption among publicly traded corporations over the past two years.
Cole’s background in institutional finance and Federal Reserve relationships during quantitative easing informed Strive’s approach to capital markets financing. The company’s reliance on preferred stock issuance to fund Bitcoin purchases differs from competitors who have relied on debt or direct cash flows.
Preferred Stock Mechanics
SATA preferred shares offer daily dividend payments tied to a fixed 13% annual rate. The structure allows Strive to raise capital while maintaining a predictable cash obligation. Strive did not disclose the total size of its SATA program or the number of shares outstanding as of June 2.
Treasury Holdings Composition
Strive’s 19,000 BTC total includes 69 BTC acquired through a Section 351 exchange during the September 2025 merger. The company did not disclose how the remaining 18,931 BTC were distributed across purchase dates, acquisition methods, or pricing tiers.
