STRIVE ADDS 1,110 BTC — $81.5M AT $73,409 AVG, 21,356 HELD, CAP CATEGORY WIDENS
Cole’s Sunday call said “very strong conviction bear market is over.” Monday’s 8-K put another 1,110 BTC on the balance sheet.
KEY RECEIPTS
Coins acquired: 1,110 BTC.
Total cost: $81.5 million.
Average price: $73,409 per BTC (including fees and expenses).
Buying window: Aug. 17 through Aug. 21, 2026.
Prior holdings: 20,246 BTC. New total: 21,356 BTC.
Cash pile: grew from $154.8M (Aug. 14) to $171.9M (Aug. 21) — while the buys were happening.
Equity issuance: Class A common shares +~3.65M to ~79.9M; SATA preferred +~441,000.
Rank: 7th largest publicly traded BTC-centric digital asset treasury.
Treasury value: ~$1.65B to $1.7B at recent prices ($77K–$78K BTC).
ASST stock: +20% YTD, +49% over the last 30 days.
Cole quote (X, Aug. 24): “Strive acquired an additional 1,110 BTC for $81.5M at an average cost of $73,409 per bitcoin, bringing total holdings to ₿21,356.”
Total cost: $81.5 million.
Average price: $73,409 per BTC (including fees and expenses).
Buying window: Aug. 17 through Aug. 21, 2026.
Prior holdings: 20,246 BTC. New total: 21,356 BTC.
Cash pile: grew from $154.8M (Aug. 14) to $171.9M (Aug. 21) — while the buys were happening.
Equity issuance: Class A common shares +~3.65M to ~79.9M; SATA preferred +~441,000.
Rank: 7th largest publicly traded BTC-centric digital asset treasury.
Treasury value: ~$1.65B to $1.7B at recent prices ($77K–$78K BTC).
ASST stock: +20% YTD, +49% over the last 30 days.
Cole quote (X, Aug. 24): “Strive acquired an additional 1,110 BTC for $81.5M at an average cost of $73,409 per bitcoin, bringing total holdings to ₿21,356.”
Strive filed the 8-K Monday morning. Matt Cole announced the buy on X, pointing his 35,000 followers at the SEC filing for the finer detail. The 1,110 BTC hit the treasury at an average of $73,409 per coin — well below the $77,000 to $78,000 range Bitcoin was trading when the coins settled on the balance sheet. Freshly acquired coins were already worth roughly $85M to $86M at press time.
The mechanical read matters more than the raw number. Strive’s cash pile grew from $154.8 million to $171.9 million during the same window it was buying. The capital-raising engine is refilling the tank faster than Cole can deploy it. Class A shares rose by roughly 3.65 million to about 79.9 million, and SATA preferred grew by around 441,000 shares. The trade is straightforward: raise capital below Bitcoin’s long-term appreciation, use the spread to put more Bitcoin behind each share over time.
This is the Capitalist read on why the Cap category matters. It is no longer Strategy alone. Cole is running the same playbook on a different balance sheet, with a different capital structure — preferred plus common, instead of Strategy’s convertible-heavy stack — and it is compounding. Strive now sits 7th on the public-treasury leaderboard, with roughly $1.65 to $1.7 billion in Bitcoin held. Nine months ago the company did not have a Bitcoin balance sheet. Today it does.
Cole’s Sunday said the next cycle will be “the strongest we have ever seen” — a very-strong-conviction bear-market-is-over call. Monday’s 8-K put money behind the words. Sunday’s speech is cheap. Monday’s settlement is not. The Cap category has depth now, not just a flag-bearer.
Falsifier: if Strive starts selling BTC to fund operations, or if Bitcoin-per-share turns negative because dilution outruns accumulation, the Cap playbook breaks. So far this is pure accumulation, with cash reserves growing alongside the coin count.
WHAT TO WATCH
Next Strive 8-K filing cadence — is the weekly-buy pattern holding?
Bitcoin-per-share ratio vs. share-count expansion.
SATA preferred trading vs. par (currently back at par per Aug. 21 read).
Bessent 2 PM ET presser aftermath — same debasement tailwind Strive is buying into.
Next Cap-category treasury acquisition — is Strive the last new entrant, or the second of many?
Bitcoin-per-share ratio vs. share-count expansion.
SATA preferred trading vs. par (currently back at par per Aug. 21 read).
Bessent 2 PM ET presser aftermath — same debasement tailwind Strive is buying into.
Next Cap-category treasury acquisition — is Strive the last new entrant, or the second of many?
Cap category is deeper than Strategy alone.
Cole put the money where the thesis is.
The cap is still twenty-one million.
Cole put the money where the thesis is.
The cap is still twenty-one million.
Bitcoin.com · Jamie Redman · Strive 8-K SEC EDGAR (asst-20260824) · Matt Cole @ColeMacro · Mon Aug 24 2026 · 11:01 AM ET