$50M Bitcoin Purchase Reveals Strive’s Latest Move in Public Treasury Race

Strive, Inc. added 759 Bitcoin to its balance sheet last week, reinforcing a debt-free treasury strategy designed to make BTC the company’s central reserve asset and performance benchmark. The Nasdaq-listed company, trading under ASST, purchased the Bitcoin between June 15 and June 21 at an average price of roughly $65,850 per BTC, including fees and expenses.

The $50 million purchase lifted Strive’s reported holdings to 19,864 BTC, up from 19,105 BTC as of June 12. This places Strive as the seventh-largest Bitcoin treasury company, ahead of SpaceX but behind Bullish, according to data from bitcointreasuries.net.

Strive disclosed the acquisition in a Form 8-K filed with the U.S. Securities and Exchange Commission on June 22, 2026, signed by Chairman and CEO Matthew Cole. The company also reported cash and cash equivalents of $144.5 million, up from $141.4 million, while Class A common shares increased by about 1.89 million shares.

The filing continues Strive’s pattern of acquiring Bitcoin through equity offerings and preferred stock while avoiding debt. Strive’s stated objectives are to accumulate Bitcoin, increase Bitcoin per share, and outperform Bitcoin over time through treasury accumulation, structured finance, and active capital allocation.

Recent purchases include about 2,500 BTC in late May and early June at an average price near $74,092, 73 BTC in mid-June at about $63,646, and 1,109 BTC in May at around $76,989. This steady accumulation has made Strive one of the larger public corporate Bitcoin holders.

Strive’s current structure followed a September 2025 reverse merger with Asset Entities Inc., a smaller Nasdaq-listed digital marketing and content company. The company now operates as a public Bitcoin treasury and structured finance firm.

ASST shares are up 3% on June 22 but have lost 20% in the past month and are down more than 84% over the last 12 months. The shares remain highly volatile, closely tied to Bitcoin’s price and dilution concerns.

Strive’s SATA preferred stock offers a 13% APR, with dividends shifting to daily payments in mid-June 2026. The company positions SATA as a lower-volatility income vehicle to fund Bitcoin purchases, while common equity offers a way to speculate on Bitcoin treasury growth.

Risks include Bitcoin volatility, regulatory pressure, capital-raising dilution, and execution challenges. The upside depends on Strive growing BTC per share while preserving liquidity and avoiding leverage-driven stress. Meanwhile, Strategy revealed the purchase of 520 BTC on the same day.

Source: https://news.bitcoin.com/50m-bitcoin-purchase-reveals-strives-latest-move-in-public-treasury-race/