Strive held 36,818 bitcoin as of October 16, up 4,045 coins from the 32,773 it reported a week earlier, according to the Form 8-K the Dallas-based company filed on Monday. Cash and cash equivalents rose to $317.5 million from $310.3 million over the same week, and its 505,000 shares of Strategy’s STRC preferred stock were valued at $49.349 million, down from $50.328 million on October 9.
The company said it paid an average of about $81,734 a coin for the 1,223 bitcoin it bought between October 14 and October 16, and about $82,803 across the full 4,045-coin week.
The update lands a day before Strive’s preferred stock offering is due to settle. The company priced 7,000,000 shares of its 15.00% Series A Perpetual SATS Preferred Stock at $90 each on October 15, an upsize of 2,000,000 shares over the amount previously announced, for expected gross proceeds of about $630 million before underwriting discounts and expenses, per the pricing release. Settlement is scheduled for October 20.
Strive Paid Less per Coin in Each Batch
Strive’s October buying has come in three batches, and the average price it paid fell with each one.
- October 5 to 9: 3,311 bitcoin at about $84,500 a coin, lifting holdings to 32,773 BTC, in what the company’s disclosures called its largest single increase since January.
- October 12 and 13: 2,822 bitcoin for about $235 million, announced on October 14 and taking holdings to 35,595 BTC.
- October 14 to 16: 1,223 bitcoin at about $81,734 a coin, the batch behind Monday’s filing.
The earlier 3,311-coin purchase was already reported as Strive’s largest since January. The 4,045-coin total for the week is the figure the filing itself carries, and it matches the 2,822 and 1,223 coins from the two announcements added together.
Warrants Are Gone and the Share Count Is Up
All of Strive’s traditional warrants had been exercised or had expired as of October 16, and none remain outstanding, the filing shows. Class A common stock rose to 114,847,610 shares from 101,169,907 on October 9, with the warrant exercises landing on October 12 and 13.
The cash balance rose despite the buying. Strive has funded purchases partly through its Variable Rate Series A Perpetual Preferred Stock, known as SATA, which its site lists at a 13.29% current yield as of the October 19 market close.
What the SATS Preferred Pays
The SATS Stock accumulates cumulative dividends at 15.00% a year on a stated amount of $100 per share, with regular dividend dates beginning November 9, 2026. At closing, Strive intends to increase its existing dividend reserve to cover the first 18 months of payments, depositing the equivalent of $22.50 per SATS share from cash and securities it already holds.
Strive said it plans to use the net proceeds for general corporate purposes, including the acquisition of bitcoin and bitcoin-related products, working capital, income-generating assets, capital expenditures, or repurchases of Class A common or SATA preferred stock. Barclays and Cantor are joint book-running managers, Clear Street is lead manager, and B. Riley Securities, H.C. Wainwright, Maxim Group and StoneX are co-managers.
The company describes itself as a structured finance company that treats bitcoin as its hurdle rate for capital deployment, and lists $3.4 billion in balance sheet assets with no debt on its own site.
The two preferred series now carry different costs: SATA at 13.29%, SATS at 15% on its stated amount, with the first 18 months of SATS dividends pre-funded from cash. The next disclosure to watch is Strive’s following weekly update, which will show whether the buying pace held once the roughly $630 million in SATS proceeds arrives.