Strive increased its bitcoin holdings to 23,156 BTC, climbing to No. 5 among listed companies by holdings, blockchain outlet CoinPost reported on Thursday.

Matt Cole (매트 콜), Strive's chief executive, said he could not rule out the possibility the company will become the world's second-largest publicly listed bitcoin holder by the end of 2026.

The company bought 3,156 BTC in August alone. That was a sharp increase from 136 BTC bought in July. Bitcoin traded in the $62,000 range at the time, putting the value of its total holdings at about $1.9 billion. On that basis, Strive rose to No. 5 in listed-company holdings last week, overtaking crypto exchange Bullish.

In a podcast released on Sept. 2, Cole said $250,000 bitcoin forecasts being cited in the current bull market were overly conservative. He also said bitcoin could rise to $500,000 to $1 million around 2030. Cole views bitcoin as the asset with the strongest momentum in financial markets and said expanding demand from individuals and institutions will drive gains.

Against that backdrop, Strive is focusing on expanding its holdings and strengthening its custody system. The company said it maintained financial flexibility by deliberately avoiding early fundraising through convertible bonds in a bear market, unlike some competitors. As a result, it said it secured high liquidity by rolling out digital credit products and claimed performance 60 percent higher than rival bitcoin treasury companies since the start of the year.

Cole also stressed internal investment discipline. He said the company rejects more than 95 percent of the businesses and investment proposals it reviews. He said a compensation system tied to attracting top talent and shareholder interests underpins the company's advantage. The company plans to buy more bitcoin aggressively while keeping stock liquidity stable.

The possibility of becoming No. 2 globally was not presented as a base-case scenario. Cole drew a line, saying it would be possible only if several favourable conditions overlap. Twenty One Capital, currently in second place, holds 43,514 BTC. Strive would need to increase its purchase pace further to approach that level.

Additional funding capacity remains a variable. Strive has issued more than $700 million in warrants so far, and those warrants face an exercise deadline in mid-October. If the share price is above the $27 exercise price, the company believes it could deploy up to $1.4 billion for bitcoin purchases and expanding credit products. Cole said he hopes the warrants will be exercised rather than expire.

Key points to watch are whether actual inflows of funds materialise and the pace of additional bitcoin purchases. Strive could raise its holdings ranking further if the bull market continues and funding conditions align, but the company itself says entering the world's No. 2 spot is a scenario that depends on several prerequisites.