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Strive bitcoin treasury eyes end-2026 push after August BTC buys
Strive said its remaining more than $700 million in mid-October warrants could, if shares clear a $27 exercise price, unlock up to $1.4 billion in capacity to buy more bitcoin.
Strive, a bitcoin treasury company, said it could potentially finish 2026 as the world’s second-largest public bitcoin holder, citing rapid balance sheet growth after adding 3,156 BTC in August. According to The Block, Strive shares rose to a year-to-date high of $26.84, putting the stock less than 1% below the warrants’ $27 exercise price. Strive CEO Matt Cole said on a podcast appearance that an end-of-year top-two outcome is possible, though not his base case, and would depend on multiple factors. The CEO pointed to more than $700 million in outstanding ASST warrants expiring in mid-October. The Block reported that if Strive’s shares trade above the $27 exercise price, warrant conversion could provide “hundreds of millions” in additional funds, with Cole describing potential capacity for about $1.4 billion to buy bitcoin.
Strive ramped up purchases in August compared with July, The Block reported, buying 3,156 BTC last month versus 136 BTC in July when bitcoin was in the low $62,000 range. The company holds 23,156 BTC worth nearly $1.9 billion, and Cole said he hopes the warrants are exercised rather than expiring unused.
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