Strive, Inc. made another Strive bitcoin purchase between July 13 and July 17, adding 21 coins at an average price of roughly $63,221 each — a relatively modest buy, but one that pushed the Dallas-based treasury company’s total holdings to 19,921 BTC, according to an 8-K filing submitted to the Securities and Exchange Commission on July 20.
Summary
Key takeaways
- Strive bought 21 bitcoin between July 13–17 at an average price of about $63,221 per coin, lifting its total holdings to 19,921 BTC.
- Cash and cash equivalents climbed to $157.4 million as of July 17, up $3.3 million from the prior week.
- Class A shares outstanding rose by 443,797, reflecting ongoing issuance under the at-the-market equity program.
- Strive holds 505,000 shares of Strategy’s STRC preferred stock, valued at $43.1 million as of July 17.
- CEO Matthew Cole has committed to buying bitcoin “hand over fist,” with the company targeting a $4.2 billion war chest for future acquisitions.
Strive’s Recent Bitcoin Purchases and Treasury Growth
The latest acquisition is smaller in scale than the bursts of accumulation that carried Strive past 19,000 BTC earlier this spring, but it reinforces the company’s core operating rhythm: convert capital into bitcoin, consistently and publicly. The average price paid — around $63,221 per coin — came in below the levels Strive paid during much of its earlier buying, a detail management has tied to a long-run thesis on the asset’s value trajectory.
Prior to this buy, Strive held 19,900 BTC. The 21-coin addition brings the treasury to 19,921 BTC, keeping the company firmly among the top ten public corporate holders of bitcoin globally — a field that Strategy still leads by a wide margin, with 843,775 BTC on its books.
Financial Position and Equity Issuance
Alongside the bitcoin update, Strive’s balance sheet showed modest improvement. Cash and cash equivalents rose $3.3 million to $157.4 million as of July 17, up from $154.1 million the week prior. The company’s liquidity position matters here: it signals continued capacity to deploy capital into bitcoin without immediate pressure to liquidate anything.
Share issuance through the at-the-market program
Class A shares outstanding increased by 443,797, climbing from 73,426,164 to 73,869,961, driven by issuance under the company’s at-the-market equity program. Class B shares edged down by 3,335 to 9,800,012, while the count of Strive Variable Rate Series A Perpetual Preferred Stock (SATA) held steady at 7,829,502.
The at-the-market mechanism is central to how Strive funds its bitcoin strategy. Shares are issued into the open market and proceeds are converted to bitcoin at pace — a design intended to grow bitcoin exposure per share while managing dilution. Whether that balance holds depends heavily on continued market appetite for new equity.
Valuation of holdings in Strategy’s preferred stock
The filing also detailed Strive’s position in Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). Strive held 505,000 STRC shares across both reporting dates, though the fair value of that stake slipped $1.1 million to $43.1 million as of July 17. The decline is a reminder that Strive’s balance sheet is exposed not just to bitcoin’s price but also to the market performance of bitcoin-adjacent financial instruments.
Corporate Strategy and Growth Outlook
Strive’s identity as a bitcoin treasury company was built quickly and unconventionally. The firm went public through a merger of Strive Asset Management and Asset Entities, then expanded its bitcoin base significantly through the acquisition of Semler Scientific — an all-stock deal that folded a medical-technology company and its existing bitcoin holdings into Strive. Shareholders approved the Semler transaction, which closed in January and pushed combined holdings past 12,000 BTC at the time.
Funding strategy: perpetual preferred equity over convertible debt
One of the more distinctive aspects of Strive’s model is how it raises capital. The company funds its bitcoin accumulation through perpetual preferred equity rather than convertible debt — a structural choice that CEO Matthew Cole has framed as protection against forced selling. Convertible debt instruments can create pressure to sell assets when conversion triggers or margin conditions are met; preferred equity, by contrast, carries no such automatic mechanism.
That distinction matters as bitcoin treasury companies become a recognized corporate category. Investors evaluating Strive against peers are essentially comparing capital structures and their respective vulnerabilities under stress conditions.
A $393 million loss and a $4.2 billion target
Strive’s growth story has not come without pain on the income statement. The company reported a $393 million loss across its first six months as a public company — a figure the company attributes to the accounting treatment of its bitcoin holdings and the costs associated with share issuance. Under current accounting rules, unrealized changes in bitcoin valuations can create significant swings in reported earnings, even when underlying treasury holdings remain stable.
Despite that headline number, management has kept its eyes on a far larger goal: building a $4.2 billion war chest to fund further bitcoin acquisitions. The gap between the reported loss and that capital target tells the real story of where Strive sees itself going — and how much runway it believes it still needs to get there.
CEO Matthew Cole’s commitment to aggressive accumulation
Cole signed the 8-K filing and has been consistent in his public positioning. His pledge to keep buying bitcoin “hand over fist” sets a tone that is deliberate: Strive is not accumulating passively or opportunistically. It is systematically converting equity issuance into a digital asset position, bet by bet, filing by filing.
The filing carried standard cautions on forward-looking statements, flagging risks tied to the Semler Scientific integration, digital asset volatility, interest rate movements, and dilution from further share sales. The company also noted it may adjust the SATA dividend rate, a lever it holds as it actively manages its preferred stock structure. For investors, the combination of a $4.2 billion ambition and a $393 million reported loss sets up a high-stakes question: whether the equity markets will keep funding that appetite at the scale the strategy demands.
FAQ
How many bitcoins did Strive recently purchase and at what price?
Strive purchased 21 bitcoins between July 13 and July 17 at an average price of about $63,221 per coin.
What is Strive’s current bitcoin treasury size?
Strive’s bitcoin holdings increased to 19,921 BTC following the latest purchases.
How is Strive funding its bitcoin acquisitions?
Strive funds bitcoin acquisitions through perpetual preferred equity rather than convertible debt, a structure designed to avoid the forced-selling risk associated with debt instruments.
What are Strive’s strategic goals regarding bitcoin accumulation?
Strive aims to build a $4.2 billion war chest to fund further bitcoin purchases, with CEO Matthew Cole committing to buy bitcoin “hand over fist.”
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.
