Strive Buys 3,311 Bitcoin for $280M, Passes Adam Back's BSTR as $208M Warrant Wave Hits Deadline

Published October 14, 2026, 01:20 UTC. Based on Strive's October 13, 2026 Form 8-K filed with the U.S. Securities and Exchange Commission, CEO Matt Cole's October 13, 2026 post on X, and Unchained's October 13, 2026 reporting on the filing.

Strive bought 3,311 bitcoin between October 5 and October 9 at an average price of about $84,500 a coin, fees and expenses included, lifting its corporate treasury to 32,773 BTC, according to a Form 8-K the Nasdaq-listed company filed with the U.S. Securities and Exchange Commission on October 13. The purchase works out to roughly $280 million and raised the company's stack 11.2% in a single week, from 29,462 BTC to 32,773 BTC.

The $280 million buy

The filing shows the buying landed in the same week bitcoin traded around the mid-$80,000s, and the company funded most of it with a warrant-exercise wave rather than fresh preferred issuance. Strive's Bitcoin holdings have grown nearly 460% in the 13 months since it went public, and the company reported on August 28 that it held 23,156 BTC, meaning the pace of accumulation has accelerated into the fourth quarter, according to Unchained's analysis of the filing.

The $208 million warrant wave

CEO Matt Cole said on X that $208 million in warrants had been exercised ahead of their 5 p.m. ET expiry on October 13, adding that roughly 15.3 million shares underlying traditional warrants remained outstanding going into the deadline. The filing shows the number of shares underlying Strive's traditional warrants falling by 7,993,806 in the week to October 9, to 15,255,900. Exercising a warrant requires the holder to pay the exercise price to Strive, so the deadline acted as a countdown for capital flowing into the company; Class A shares outstanding grew by about 9.46 million during the week, much of it from warrant exercises, according to Unchained.

Passing Adam Back's BSTR, now fifth-largest

The buy takes Strive past Adam Back's Bitcoin Standard Treasury Company, BSTR, which holds 30,021 bitcoin, according to the BitcoinTreasuries leaderboard. Strive now sits fifth among publicly traded bitcoin holders, with only MARA Holdings at 35,577 BTC between it and the top four, a gap of 2,804 coins. The company also said its bitcoin per share grew 11.2% last week, outpacing a 9.4% increase in its effective common share count, meaning shareholders gained bitcoin exposure despite the new equity issuance.

The $100 SATA price floor becomes binding

In a separate filing dated October 12, Strive said it amended the certificate of designation for SATA, its Variable Rate Series A Perpetual Preferred Stock, to set a minimum sale price of $100 per share for all future SATA sales, before underwriting discounts, commissions, fees and expenses. The change turns a previously announced policy into a binding restriction, a step Cole described as "formalizing the protection." SATA did less of the lifting this week, with shares outstanding rising by 532,094 to 14,030,176, worth about $53.2 million at the $100 stated amount, or roughly 630 of the 3,311 coins, according to the BitcoinTreasuries analysis.

This article is news reporting and is not investment advice.

Sources

• Strive, Form 8-K filed with the U.S. Securities and Exchange Commission (October 13, 2026), primary source for the 3,311 BTC purchase, the average price, the 32,773 BTC total and the warrant count changes
• Matt Cole, CEO of Strive, post on X (October 13, 2026), primary source for the $208 million in warrant exercises and the ~15.3 million remaining warrants ahead of the deadline
• Unchained, "Strive Adds 3,311 Bitcoin as Warrants Covering 15.3 Million Shares Near Expiry" (October 13, 2026), secondary source for the filing details and the cash and share-count figures
• BitcoinTreasuries, "Strive Crosses 30,000 Bitcoin and Passes Adam Back's BSTR" (October 13, 2026), secondary source for the leaderboard ranking, the BSTR comparison and the SATA financing breakdown