Strive, Inc. (ASST) · Oct 19, 2026 · Other events

Strive bitcoin holdings jump as warrant dilution resets capital stack

Bitcoin holdings update — 36,818 BTC, up 4,045 week over week

Strive’s bitcoin holdings update shows a rapid treasury build, funded alongside a sharp common-share increase and a new high-cost preferred layer.

Strive is now primarily a Bitcoin treasury company, using capital markets to accumulate bitcoin while retaining the acquired Semler Scientific operating business as a secondary asset.

The treasury build accelerated materially. Bitcoin holdings rose from 32,773 to 36,818 during the week, including 4,045 bitcoin purchased at an average price of approximately $82,803.

MetricOctober 9, 2026October 16, 2026Change
Cash and equivalents ($ thousands)$310.3M$317.5M+$7.2M
Fair value of STRC Stock ($ thousands)$50.3M$49.3M-$1.0M
Bitcoin held32,77336,818+4,045
Effective common shares110.4M124.1M+13.7M
Assumed fully diluted shares113.1M126.8M+13.7M
Traditional warrants outstanding15.3M underlying sharesNone-15.3M
SATA Stock outstanding14.0M14.0M—

The funding came with a large reset in the common-share base. Effective common shares increased by roughly 12% in one week, mainly because warrant exercises added 13.7 million shares and generated approximately $369.2 million of gross proceeds. The warrant overhang is now gone: 〔0〕 This removes a future supply overhang, but the immediate cost is substantial dilution to existing common holders.

The next financing is already committed, but not yet in the cash balance. Strive priced 7 million SATS preferred shares at $90 each, targeting approximately $630 million of proceeds before expenses, with a 15% perpetual dividend. 〔1〕 The offering is intended to support more bitcoin purchases and other corporate uses, but it adds a senior, expensive capital layer; proceeds had not been received as of October 16. The pricing and warrant events were already disclosed between October 13 and October 15, so this filing is more confirmation and balance-sheet measurement than a surprise.

Bottom line: Strive is executing its Bitcoin accumulation strategy at a faster pace, but the progress is being funded through major common dilution and costly preferred capital. The filing advances the strategy, while making the capital structure more complex rather than cleanly improving the story.

What to watch next

SATS offering settlement, October 20

Original filing on SEC EDGAR

More Strive, Inc. news

Strive bitcoin holdings jump as warrant dilution resets capital stack | ASST Stock News
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