Strive Buys $235M in Bitcoin to Take 4th Place from MARA

Corporate Bitcoin buying just saw another major movement. Bitcoin treasury firm Strive recently jumped ahead of MARA on the corporate leaderboard by buying 2,822 Bitcoin for $235 million. This purchase came just a single day after the company revealed a separate $280 million acquisition.

This double buying spree added 6,133 Bitcoin to Strive's reserve in a little over a week. The company now holds 35,595 Bitcoin, valued at nearly $3 billion. At the time of reporting on October 14, 2026, Bitcoin traded around $81,850 (down 2.01%), while EthereumETH-3.05% stood at $2,439 (down 3.04%).

Past performance of digital assets is not an indication of future results. Readers interested in live spot prices can review market data on platforms like bitkub.com.

Strive Steps Into Fourth Place on the Global Leaderboard

CEO Matt Cole shared on Wednesday, October 14, that Strive acquired the 2,822 Bitcoin between October 12 and October 13. The company paid an average price of about $83,266 per Bitcoin. This built directly on Tuesday's disclosure of a 3,311 Bitcoin purchase worth $280 million.

Altogether, Strive spent roughly $515 million during this multi-day acquisition push. According to stats from bitcointreasuries.net, this shift rearranged the corporate standings.

With 35,595 Bitcoin in total, Strive moved past MARA's 35,577 Bitcoin by a paper-thin margin of just 18 coins. That is a tight gap in a competition involving billions of dollars.

Where Top Publicly Traded Bitcoin Treasuries Stand

• Strategy: ~848,250 BTCBTC-1.85%
• Metaplanet: 44,000 BTC
• Twenty One Capital: ~43,500 BTC
• Strive: 35,595 BTC
• MARA: 35,577 BTC

How Strive Funded Its Fast-Paced Purchases

To finance these heavy additions, Strive executed an active fundraising push. An October 14 Form 8-K filing revealed that investors exercised 273.49 million traditional warrants between October 12 and October 13, covering around 13.67 million Class A shares.

This action generates expected gross cash proceeds of $369.2 million. Strive confirmed that 94% of traditional warrants from its Private Investment in Public Equity (PIPE) transaction were exercised overall, leaving zero traditional warrants outstanding by Tuesday's market close.

While this capital provided immense cash reserves for Bitcoin buying, existing shareholders now face an increased total share count.

The $500 Million Preferred Stock Plan

Strive also unveiled another funding stream on October 13. The firm announced plans to offer 5 million shares of new SATS preferred stock. These shares carry a $100 stated value alongside a 15% cumulative annual dividend.

If completed as planned, this new preferred stock offering will raise $500 million before expenses, supplying additional capital for potential crypto purchases.

Stock Performance and Investor Considerations

While Strive's Bitcoin balance sheet expanded rapidly, its common stock experienced downward pressure. The company's equity ticker, ASST, closed Tuesday at $27.59 (down 0.43%) before dropping another 8% by 11 a.m. on Wednesday.

Market participants appear to be balancing Strive's growing Bitcoin position against potential share dilution and ongoing dividend commitments from the preferred stock structure.

CEO Matt Cole aims for Strive to become the second-largest public corporate Bitcoin holder by the end of 2026. However, keeping fourth place will require active effort, as Strive holds only an 18-Bitcoin lead over MARA, while higher ranks require thousands more coins.

Additional Market Developments: Evernorth's XRP Strategy

In broader treasury news, newly public Evernorth announced plans to deploy its 473 million XRP treasury. The firm will use institutional market strategies in partnership with established industry players including RippleXRP-3.05%, Coinbase, Kraken, and BitGo.