Bitcoin Magazine

Strive (ASST) CEO Says Company Is Buying Bitcoin ‘Hand Over Fist’ as Treasury Hits 19,864 BTC

Strive Inc. CEO Matt Cole said his company is purchasing Bitcoin at an aggressive pace, telling Bloomberg that the firm is buying “hand over fist” as prices decline.

The statement came as Strive disclosed its latest acquisition: 759 BTC purchased between June 15 and June 21 at an average cost of $65,850 per coin, bringing the company’s total treasury to 19,864 BTC — the seventh-largest corporate Bitcoin position in the world.

The company has built that position from zero in under a year. In June alone, the company made three separate purchases — 759 BTC, 73 BTC at $63,646, and 32 BTC at $63,900 — as Bitcoin prices fell. An additional $185 million in Bitcoin was acquired across May and late spring, including 2,500 BTC at an average of $74,092 and 1,109 BTC at $76,989.

Before joining Strive, Cole managed a $70 billion portfolio at CalPERS and worked with the Federal Reserve and Treasury during quantitative easing. He has positioned the company around the thesis that Bitcoin should function as the hurdle rate for all capital allocation decisions — meaning every investment the company makes is benchmarked against Bitcoin’s performance.

The company reported a Q1 2026 Bitcoin yield of over 15%.

Strive’s Semler Scientific Acquisition

In January 2026, Strive completed the acquisition of Semler Scientific in an all-stock deal — the first instance of a publicly traded Bitcoin treasury company acquiring another publicly traded Bitcoin treasury company. The transaction added 5,048 BTC from Semler’s balance sheet to Strive’s holdings, pushing the combined entity past Tesla and Trump Media in the rankings of corporate Bitcoin holders.

Following the close, Strive paid off Semler’s legacy debt and deployed an additional $29 million into Bitcoin. The company has indicated plans to monetize Semler’s operating business within 12 months of the transaction.

Capital Programs and SATA

Strive has announced plans to raise up to $4.2 billion in new capital — $2.1 billion through its Class A common stock (ASST) and $2.1 billion through SATA, its Variable Rate Perpetual Preferred Stock instrument. SATA is designed to give investors exposure to Bitcoin yield through a structured preferred equity instrument. 

At launch, the product absorbed an estimated 490 BTC in a single day — a volume that exceeded the entire global daily Bitcoin mining supply.

Strive was the second public company to launch a publicly traded perpetual preferred equity instrument of this kind. The capital raised through both programs is intended to fund continued Bitcoin acquisitions.

With 19,864 BTC on its balance sheet and $4.2 billion in potential purchasing power, Strive has positioned itself as one of the more active institutional accumulators in the current market cycle.

Source: BitcoinMagazine