Cryptoupdated 23m ago2 min read
Archive photo · 30 October 2021Strive Buys 15,124 Bitcoin in October, Closing In on Top Treasury Holders
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Strive purchases 15,124 BTC in October. Strive's ten-month BTC purchases total 35,497.
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October buys tighten race
Strive bought 15,124 Bitcoin (BTC) in October, bringing its 2026 purchases through the first ten months to 35,497 BTC, according to its third-quarter earnings report.
Strive reported it held 43,124 BTC as of Oct. 30, placing it fourth among publicly traded corporate holders and trailing Twenty One Capital by 390 BTC.
Strive said it would need another 877 BTC to overtake Metaplanet, which holds 44,000 BTC, assuming neither rival adds to its position.
Strive reported third-quarter net income of $509 million, driven largely by $533.7 million in unrealized Bitcoin gains.
Strive’s shares fell 1.97% to $20.19 in early trading Friday, extending a decline of 32.15% over the past month, according to Yahoo Finance data.
Financing and what comes next
Strive raised about $609 million in net proceeds through an October offering of its SATS perpetual preferred stock, which carries a 15% annual dividend rate. Strive has not specified how much of the proceeds it will allocate to Bitcoin purchases, leaving the company’s next steps tied to later disclosures. Jeff Walton, Strive’s chief risk officer, said the company is looking beyond cryptocurrency markets, adding, "We believe that some of the bigger opportunities are crossing the aisle into traditional finance".
Strive also said it is evaluating opportunities in banking, brokerage, decentralized finance, reinsurance and tokenization, while disclosing no specific plans or timelines. Cointelegraph quoted Walton describing the approach as operating "as a structured finance company" to find yield and distribution not correlated to Bitcoin or crypto.
Ranking target and investor focus
Matt Cole, Strive’s chief executive, said in a September interview that Strive could become the world’s second-largest publicly traded corporate Bitcoin holder by year-end, while acknowledging that outcome was not his base case.
Strive’s Oct. 30 position made the target plausible in the earnings materials, because the company would be 877 BTC short of Metaplanet’s 44,000 BTC if competitors’ holdings stayed unchanged.
DiarioBitcoin said Strive’s quarterly net income reached USD 509 million and that unrealized gains topped USD 533.7 million, while it reported diluted earnings of USD $5.24 per share.
DiarioBitcoin also said Strive bought 8,136 BTC during the third quarter and closed September with 28,000 BTC, and it described the October increase as lifting holdings to 43,124 BTC.
BigGo Finance said the next checkpoint for investors is whether Strive converts its fundraising into additional coin purchases and whether it offers operational detail on the banking, DeFi or tokenization reviews.