Asset manager Strive bought an additional 1,110 bitcoin last week, spending $81.5 million.

On Aug. 24, blockchain media outlet Cointelegraph reported that the purchase lifted Strive's total bitcoin holdings to 21,356 BTC.

A disclosure filed with the U.S. Securities and Exchange Commission on Aug. 24 showed Strive bought bitcoin from Aug. 17 to 21. The average purchase price was $73,409 per bitcoin, including fees and expenses. Bitcoin traded around $79,000 on Aug. 24, about 8 percent higher than Strive's purchase price.

The market reaction was immediate. ASST shares, listed on Nasdaq, rose more than 11 percent in morning intraday trading on Aug. 24. The year-to-date gain was more likely to expand to about 36 percent.

With the purchase, Strive rose to seventh place among publicly listed companies by bitcoin holdings. According to BitcoinTreasuries.net data, it ranks behind Bullish and ahead of SpaceX. As more companies continue strategies of adding bitcoin as a treasury asset, Strive increased its holdings again and raised its profile.

Matt Cole (맷 콜), Strive's chief executive officer, stressed on Aug. 24 via X, formerly Twitter, that the key point is not simply bitcoin's price rise itself. He said bitcoin is showing the fastest rise among scarce assets and that ASST is designed to amplify that performance in a responsible way.

Its funding structure also expanded. Strive's cash and cash equivalents rose by $17.1 million over the same period to $171.9 million, and the number of outstanding Class A common shares increased by 3.65 million to 79.89 million shares. Strive also runs an asset management business and manages about $3 billion in assets through exchange-traded funds and a direct indexing platform.

As of Aug. 21, Strive also held 505,000 shares of Strategy's floating-rate perpetual preferred stock STRC, valued at $48.6 million. It is also continuing to operate its own floating-rate perpetual preferred stock, SATA.

SATA was first issued in November 2025. Strive sold 2 million shares at $80 per share, raising a total of $160 million. Unlike common shares, the product was designed as an income product and has a structure that keeps the price near $100 through a floating dividend rate. Strive raised the annualised dividend rate to 13 percent in April and, from June 16, switched from monthly dividends to daily dividends.

SATA closed at $100.01 on Aug. 22. That brought it back into the $99 to $101 range that management presented as its target. Earlier, Strive narrowed the target trading range in March to $99 to $101 from $95 to $105, and said it would not issue SATA through on-exchange sales or follow-on offerings if it is below $100.

Strive is strengthening its bitcoin treasury strategy by combining additional bitcoin purchases with preferred stock operations. With SATA price stability and expanding cash-like assets, attention is on how much more it will increase its bitcoin holdings in the future.

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