Strive buys $511 million of bitcoin in a week and pulls within 1,000 coins of Metaplanet in the race for second place

Strive added more than 6,000 bitcoin last week, putting it within reach of the second spot among public companies that hold the coin.

The Dallas-based company said in a Form 8-K on Monday that it bought 6,182 bitcoin from October 17 to October 23 at an average price of about $82,732 per coin, including fees. That works out to roughly $511 million and lifts its holdings from 36,818 to 43,000 BTC.

According to Bitcoin Treasuries data cited by The Block, that ranks Strive fourth, behind Strategy at 848,517 BTC, Metaplanet at 44,000 and Twenty One at 43,514, and ahead of MARA at 35,577. The Block noted that chief executive Matt Cole has long said he wants Strive to end 2026 as the second-largest public holder.

The buying followed a fresh round of fundraising. Strive closed an offering of 7 million shares of its 15% SATS preferred stock on October 20, raising about $630 million before expenses, The Block reported, and the filing shows 7 million SATS shares now outstanding. Its cash rose from $317.5 million to $504.4 million over the week, and Class A shares outstanding rose by about 3.3 million to 118.1 million. Strive also holds 505,000 shares of Strategy's STRC preferred stock, valued at about $50.2 million.

In a separate filing on Monday, Strive set up an at-the-market program to sell up to $1 billion more of the SATS preferred stock. The proceeds can go to general corporate purposes, including buying bitcoin.