Strive, one of the fastest-growing Bitcoin treasury companies in the world, has disclosed a major new Bitcoin purchase that vaults its corporate stack ahead of crypto exchange giant Coinbase. It's a symbolic milestone for a company that has rapidly emerged as one of the most aggressive accumulators in the space.
In its latest SEC filing, Strive revealed it acquired 1,109 BTC, lifting its total holdings from 15,391 BTC to 16,500 BTC. That's a roughly 7.2% jump in a single buy. The acquisition pushes the company from the ninth-largest public corporate holder to seventh, leapfrogging both Riot Platforms and Coinbase, which now holds 16,492 BTC.
The optics here are hard to ignore. Strive, a comparatively small company by market cap, now holds more Bitcoin on its balance sheet than one of the pioneering names of the entire crypto industry. Coinbase CEO Brian Armstrong has publicly stated his company is buying Bitcoin every day, but because Coinbase only discloses its corporate holdings on a quarterly basis, the precise cadence and size of those purchases remain opaque to the market in between filings. Strive, by contrast, has been disclosing buys via 8-K filings on a near-rolling basis, giving investors a much clearer picture of its accumulation.
The Dallas-based firm, listed on Nasdaq under the ticker ASST and led by CEO Matt Cole, has emerged as a standout corporate accumulator in 2026. Since completing its acquisition of Semler Scientific in January 2026, when its treasury stood at 12,798 BTC, Strive has added more than 3,700 BTC across a series of disclosed purchases. The company describes itself as the first public asset management Bitcoin treasury corporation, and it frames Bitcoin as the hurdle rate against which all of its capital allocation decisions are measured. Recent purchases leading up to this milestone include 789 BTC at an average of $77,890 on April 27, 444 BTC at an average of $76,307 in early May, and 381 BTC at an average of $79,348 from May 13 to 18, before the latest 1,109 BTC buy pushed the stack to 16,500.
The buy isn't happening in isolation. Strive has also been paying down debt and announced plans to launch daily dividends. That combination, paired with the accelerated accumulation, has some Wall Street observers projecting renewed upside for the stock. ASST shares have traded in the $16 to $18 range recently, well off their 52-week high, and some analysts have floated the possibility that the company could climb back toward the $38 mark if the current trajectory holds.
One open question is the funding mix. Strive's 8-K does not break down how much of the 1,109 BTC was financed via proceeds from its Variable Rate Series A Perpetual Preferred Stock (SATA). Our prior estimate was that roughly 794 BTC would be purchased with SATA proceeds, and the actual figure came in well above that. The gap can plausibly be explained a few ways:
Strive raised more capital during the SATA issuance window than the market expected.
The company tapped common stock issuance to fund part of the buy.
Or some combination of the two.
Strip away the rankings and the headline, and the underlying story is this: a Bitcoin treasury company an order of magnitude smaller than Coinbase has now out-accumulated the exchange, while simultaneously deleveraging its balance sheet and rolling out a dividend program. The flywheel that Strive's leadership has been pitching investors, Bitcoin-per-share growth funded through accretive capital markets activity, is no longer theoretical. It is starting to spin.
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