Strive (ASST) Adds $185 Million in Bitcoin as Holdings Reach 19,000 BTC
Strive, Inc. moved on weakness in bitcoin’s price, acquiring 2,500 BTC for roughly $185.2 million at an average of $74,092 per coin. The purchase, disclosed via an SEC Form 8-K filing on June 2, lifts the Dallas-based treasury company’s total bitcoin holdings to 19,000 BTC — planting it among the top ten publicly traded corporate holders of the asset.
Strive launched in 2022 as an anti-ESG asset manager, founded by entrepreneur Vivek Ramaswamy with a focus on shareholder-first capital allocation. In September 2025, shareholders of Asset Entities Inc. approved a merger with Strive Enterprises to form a combined, publicly listed entity under the ASST ticker.
The transaction gave Strive an initial 69 BTC through a Section 351 exchange and opened the door to large-scale bitcoin accumulation.
CEO Matt Cole, who previously managed a $70 billion portfolio at CalPERS and held direct relationships with the Fed and Treasury during quantitative easing, reoriented the company toward structured finance and a bitcoin treasury model.
Under his leadership, Strive has grown from zero BTC to 19,000 in under a year, using a mix of equity offerings, its Variable Rate Series A Perpetual Preferred Stock (SATA), and capital markets activity to fund purchases.
Strive (ASST) also said yesterday it plans to expand its at-the-market fundraising programs by $4.2 billion, increasing both its common stock and SATA preferred stock offerings by $2.1 billion each to accelerate Bitcoin accumulation.
Strive’s ability to keep acquiring bitcoin at scale depends on its layered capital structure. SATA, its perpetual preferred shares listed on Nasdaq, targets a $99–$101 trading range and is designed to minimize volatility while generating recurring dividends.
The company pairs this with Class A and Class B common equity and cash reserves. In the June 2 filing, Strive reported cash of $137.3 million, up $44 million over the measurement period, and confirmed it maintains an 18-month dividend reserve.
The quarter-to-date BTC yield stands at 23.0% and the year-to-date yield at 36.7%, with an amplification ratio of 57.0%. These metrics matter because Strive frames its performance not in dollar returns but in bitcoin-denominated terms — the goal being to outperform raw BTC exposure and justify the equity premium.
The backdrop for Strive’s purchase is the first confirmed bitcoin sale by Strategy (Nasdaq: MSTR) since December 2022. Between May 26 and May 31, Strategy offloaded 32 BTC for $2.5 million at an average of $77,135 per coin — a fraction of its 843,706 BTC treasury but a departure from its pure-accumulation posture.
The proceeds went toward funding preferred stock dividends (STRF, STRC, and related instruments), with a $900 million USD reserve earmarked for obligations.
Strive plans to make its SATA preferred stock the first U.S.-listed security to pay cash dividends every business day, maintaining a 13% annual dividend rate that compounds to an effective yield of about 13.88% while backing the strategy with a growing Bitcoin treasury.
The company says the structure is designed to appeal to income-focused investors seeking frequent cash flow, while also providing exposure to Bitcoin through a debt-free balance sheet and continued Bitcoin accumulation strategy.
