Strive buys 1,107 bitcoin for $94.5 million, extending weekly purchase streak
Strive bought another 1,107 bitcoin for $94.5 million on Monday, September 28, 2026, pushing its total treasury to 27,462 BTC even as larger rival Strategy has periodically paused its own accumulation. The purchase marks at least the ninth consecutive week Strive has added to its position, according to reporting by CryptoPotato.
- Strive spent $94.5 million to buy 1,107 BTC at an average price of $85,396 per coin.
- Total holdings reached 27,462 BTC, valued near $2.3 billion at bitcoin’s current price of $83,300.
- Warrant exercises generated an additional $12.4 million, and 85% of total capital raised has come from SATA.
- $94.5M spent on the latest 1,107 BTC purchase
- 27,462 total BTC held, up from 26,355 before this buy
- $2.3B current value of the stack at $83,300 per bitcoin
- 85% of Strive’s capital raised so far through SATA preferred stock
Strive CEO Matt Cole disclosed the purchase minutes after it closed, posting the details on X. The buy brings the firm’s average acquisition price across its entire position to roughly $80,862, according to data from tracking site Newhedge.
Strive’s ninth straight weekly buy widens the gap with Strategy
Strive has now made bitcoin purchases in at least nine consecutive weeks. Some of those buys landed in weeks when Strategy, the largest corporate bitcoin holder, stood on the sidelines or was selling.
At bitcoin’s ($BTC) current price of $83,300, Strive’s stack is valued near $2.3 billion against an average cost basis of $80,862, putting the position only modestly in the green. Strive trades on public markets under the ticker $ASST, and its bitcoin purchases have continued through a stretch of price volatility that has slowed other corporate buyers.
SATA preferred shares supplied 85% of Strive’s bitcoin capital
Strive funds its bitcoin buying through a Variable Rate Series A Perpetual Preferred Stock, a publicly traded instrument marketed under the ticker $SATA. The security is structured as a digital credit product, raising capital from investors to purchase bitcoin while paying them a relatively high and stable yield in return.
Strive acquired 1,107 $BTC for $94.5M at an average cost of $85,396 per bitcoin, bringing total holdings to ₿27,462. Warrant exercises generated another $12.4M. Including those proceeds, 85% of total capital raised came from SATA.
Matt Cole, CEO of Strive, in a post on X
The $12.4 million in warrant exercises Cole cited is included in that 85% calculation, meaning SATA has been the dominant funding source for Strive’s bitcoin treasury almost since the program’s launch.
What happens if Strive’s cost basis moves underwater
Strive’s position sits only about 3% above its average purchase price of $80,862. A meaningful pullback in bitcoin would erase that cushion and test how the SATA structure performs when the underlying asset is not appreciating.
The open question is whether Strive keeps buying at this pace regardless of price, and whether Strategy resumes its own purchases or continues to sit out weeks that Strive fills. Cole’s weekly disclosures on X have become the primary signal for tracking that cadence.
The BlockWest read. The story here is less about bitcoin’s price than about who is financing these purchases. With 85% of capital coming from SATA, Strive has effectively converted preferred-stock investors into the marginal buyer of bitcoin, transferring yield-seeking capital into treasury risk. Allocators in SATA should watch the cost-basis gap as closely as Strive’s headline BTC count.
Investors will be watching for Cole’s next weekly disclosure on X, whether Strategy resumes buying in the coming weeks, and whether bitcoin holds above Strive’s $80,862 average cost basis as the accumulation streak continues.
BlockWest is a news publication. Nothing here is investment advice. Read our disclaimer and editorial policy.
