Strive's Bitcoin treasury reached 23,156 coins as of Aug. 28, with CEO Matt Cole indicating the firm could push past 27,000 BTC by year-end. The company scaled from roughly 5,000 BTC in fall 2025 using perpetual preferred stock financing that keeps its balance sheet debt-free.
Strive Inc. held 23,156 Bitcoin as of Aug. 28, and CEO Matt Cole said the firm could exceed 27,000 BTC before the year closes, extending one of the largest corporate treasury accumulation programs in the industry.
Cole has described the current market environment as potentially Bitcoin's strongest cycle to date, pointing to structural demand for scarce assets as persistent inflationary pressures weigh on fiat currencies.
The company's pace has accelerated sharply. From roughly 5,000 BTC in fall 2025, Strive crossed 20,000 BTC by June 2026, vaulting into the top five among publicly traded Bitcoin holders globally. During the last week of August alone, it acquired 1,800 BTC for approximately $143 million.
Strive came into existence through a reverse merger with Asset Entities and the acquisition of Semler Scientific, a combination that gave it both a public listing and a mandate to accumulate Bitcoin. Rather than taking on debt or diluting common shareholders through secondary offerings, the firm finances purchases through its Variable Rate Series A Perpetual Preferred Stock, trading under ticker SATA. By June 2026, Strive had expanded SATA's capacity by $4.2 billion, leaving the balance sheet with zero debt while maintaining reserves for preferred stock dividends.
TD Cowen raised its year-end BTC forecast for Strive to 27,156, reflecting confidence in the firm's treasury trajectory, and analysts there have also bumped up their stock price targets accordingly.
The risks are real. Bitcoin's price could decline substantially, leaving Strive holding a depreciating asset while still owing preferred dividends. With 23,156 BTC already on the books and a stated target that implies acquiring another 4,000 or more coins before December, Strive is making one of the largest concentrated bets on Bitcoin in corporate history.
The firm's accumulation trajectory will be worth following via on-chain whale-watch data and further CEO commentary in the coming months, as its pace could influence other corporate treasuries weighing similar allocations.
This article is for informational purposes only and does not constitute investment advice.
