Strive (ASST) Buys 29 BTC for $2.2M; Weekly Pace Slows After Hitting 43,153

Strive (ASST) purchased 29 bitcoin last week for approximately $2.2 million at an average price of $75,721 per coin, according to an 8-K filing with the SEC on Monday. The acquisition, covering the period from Oct. 31 to Nov. 6, pushed the firm's total holdings to 43,153 BTC, up from 43,124 as of Oct. 30, and concluded a month that had already taken the Dallas-based treasury past the 40,000-coin mark.

Chairman and CEO Matthew Cole shared the same numbers on X: “Strive acquired 29 $BTC for $2.2M at an average cost of $75,721 per bitcoin, bringing total holdings to ₿43,153.” The company's corporate account reposted the update shortly afterward. The filing notes that the average cost includes fees and expenses.

The latest buy represents a significant slowdown from the pace Strive maintained throughout October. In the prior week alone, from Oct. 24 through Oct. 30, Strive added 124 bitcoin at roughly $80,526 each. Between Oct. 1 and Oct. 30, the company accumulated 15,124 bitcoin in total. Strive's third-quarter results released Friday showed a year-to-date bitcoin yield — the firm's metric for the percentage change in bitcoin per share — of 63.2% through Sept. 30, with an 18.5% figure for the third quarter alone.

Holdings stood at 28,000 bitcoin on Sept. 30 before the October surge. That increase followed multi-thousand-coin purchases earlier in the fall, including a 6,182-coin acquisition funded by preferred proceeds, keeping Strive among the largest public corporate bitcoin holders behind Strategy.

Cash, SATS and a reduced weekly addition

Cash and cash equivalents declined to $487.6 million as of Nov. 6 from $490.4 million a week earlier, a $2.8 million decrease that roughly matches the approximately $2.2 million bitcoin expenditure plus fees. Strive did not specify a separate funding source for the latest coins in the 8-K.

The preferred share count continued to shift. Strive's 15% Series A perpetual preferred stock (SATS) rose by 33,141 to 7,036,559, a figure that includes shares sold through 4:00 p.m. Eastern that settle the next business day. SATA preferred stock remained unchanged at 14,030,176. Effective common shares outstanding held steady at 127,331,109 after a Class A increase of 15,382 was offset by an equal Class B reduction.

Strive still holds 505,000 shares of Strategy's variable-rate STRC preferred, valued at a fair value of $50.4 million as of Nov. 6, up slightly from $50.1 million the prior week. The company closed a registered offering of 7 million SATS shares on Oct. 20 for about $609 million in net proceeds and subsequently established a $1 billion SATS at-the-market program. These tools have funded the larger purchases that built the treasury and still provide room to continue acquisitions if the ATM attracts buyers.

With bitcoin near $74,650, the 43,153-coin treasury is valued at roughly $3.22 billion on paper. That puts the stack about 1.4% below this week's $75,721 average purchase price, though Strive has not disclosed a companywide cost basis in Monday's filing the way Strategy does weekly.

Strategy's larger Monday purchase

The Strive update coincides with Strategy's own weekly disclosure on Monday. Strategy added 1,036 bitcoin for $81.9 million at an average of $79,012, raising its holdings to 850,364 BTC acquired for $64.16 billion at an average cost of $75,456. The two filings keep the familiar pairing in view: Strategy continues to dwarf every other public corporate holder, while Strive has used preferred stock issuance to climb the treasury rankings with a faster bitcoin-per-share growth claim.

ASST closed Friday at $21.45, up from Thursday's $20.59 close and still well below its Oct. 21 local high near $30.75. The 52-week range spans $7.02 to $34.40. At the time of writing, bitcoin is near $74,650, according to Bitcoin Magazine Pro data. The question for Strive going forward is whether another week of single-digit coin additions represents a pause after October's sprint or the new run rate once the preferred ATM becomes the primary fuel.