Asset manager Strive has purchased an additional 1,109 Bitcoin for approximately $85.4 million, according to CEO Matt Cole. The acquisition increases the company’s total holdings to 16,500 BTC, positioning it as the seventh-largest public Bitcoin holder. Strive funded the purchase through capital raises and a preferred stock offering, continuing its strategy of accumulating Bitcoin as a core treasury asset.
Asset manager Strive has expanded its Bitcoin treasury with another significant purchase. The company acquired 1,109 BTC for approximately $85.4 million on May 22, as stated by CEO Matt Cole on X.
Cole mentioned the company paid an average price of nearly $76,988 per Bitcoin. This latest acquisition raises Strive’s total holdings to 16,500 BTC.
According to Bitcoin Treasuries data, the company now ranks as the seventh-largest public Bitcoin holder. It sits above Coinbase and below Bullish in the rankings.
This purchase continues a pattern of incremental accumulation throughout 2026. The company had previously purchased 382 BTC on May 18 and 444 BTC in April.
Strive’s strategy involves raising capital from investors to fund its Bitcoin purchases. One funding source is an at-the-market program for selling shares.
The company also utilizes a Variable Rate Series A Perpetual Preferred Stock, known as SATA. “It pays approximately 13% dividend,” according to the report.
Proceeds from these instruments are reinvested into buying more Bitcoin. The company maintains cash reserves, which recently increased to $93.3 million.
Strive emerged from a reverse merger in 2025, combining Strive Asset Management with Asset Entities. It has since established itself as a treasury company focused on holding Bitcoin as a balance sheet asset.
