Vivek Ramaswamy’s Strive Buys 469 BTC for $37 Million as…

Strive, the Bitcoin treasury company co-founded by Vivek Ramaswamy, purchased another 469 BTC for approximately $36.6 million last week, bringing its total holdings to exactly 25,000 BTC as Michael Saylor’s Strategy went a second consecutive week without buying Bitcoin.The Nasdaq-listed company acquired the Bitcoin between September 8 and September 11 at an average price of approximately $77,954 per BTC, including fees and expenses, according to its latest disclosure. The purchase increased Strive’s treasury from 24,531 BTC to 25,000 BTC. The acquisition was smaller than Strive’s purchase during the previous week, when it bought 1,375 BTC at an average price of approximately $79,281, spending roughly $109 million. Even so, the latest transaction pushed the company through a major treasury milestone as it continues trying to expand its Bitcoin exposure through structured financing rather than relying solely on common-stock issuance.

Strive Uses Preferred Stock to Fund Bitcoin Expansion

Strive CEO Matt Cole said the latest Bitcoin acquisition was funded entirely through capital raised from SATA, the company’s Variable Rate Series A Perpetual Preferred Stock. SATA’s notional amount outstanding has now surpassed $1 billion. Using preferred equity allows Strive to raise capital for Bitcoin purchases without issuing additional common shares for every acquisition, although preferred securities create their own dividend and balance-sheet obligations.As of September 11, Strive also reported approximately $204.2 million in cash and cash equivalents and held 505,000 shares of Strategy’s STRC preferred stock, valued at about $49.8 million. The latest transaction strengthens Strive’s position among the largest publicly traded corporate Bitcoin holders. At 25,000 BTC, however, its treasury remains far smaller than Strategy’s, which has pioneered the corporate Bitcoin treasury model and continues to hold more than 800,000 BTC. Strive’s recent accumulation pace has nevertheless been aggressive. The company added 1,800 BTC in late August, followed by 1,375 BTC during the week ending September 4 and another 469 BTC last week.

Strategy Keeps 845,050 BTC Unchanged for Second Week

While Strive continued buying, Strategy made no Bitcoin purchases or sales between September 8 and September 13, leaving its holdings unchanged at 845,050 BTC for a second consecutive week. Strategy acquired those coins for an aggregate $63.73 billion, giving the company an average acquisition cost of approximately $75,412 per BTC, including fees and expenses.Instead of adding Bitcoin, Strategy used $139.3 million of its U.S. dollar cash balance to repurchase approximately 1.42 million shares of its STRC preferred stock during the week. That followed $176.3 million of STRC repurchases in the previous reporting period, when Strategy also bought no Bitcoin. The pause comes after Strategy purchased 4,603 BTC for approximately $369.7 million between August 24 and August 30 at an average price of $80,318 per coin. That transaction lifted its holdings to the current 845,050 BTC. Strategy’s decision not to buy Bitcoin for two consecutive weeks does not signal that it has abandoned its accumulation strategy. Its capital framework allows management to deploy cash across Bitcoin purchases, preferred-stock repurchases, dividends, debt obligations and other balance-sheet uses depending on market conditions. The contrast nevertheless highlights two different capital-allocation moves among major Bitcoin treasury companies. Strive is continuing to use preferred-equity financing to build its BTC position, while Strategy has recently directed hundreds of millions of dollars toward supporting its preferred securities rather than expanding an already dominant Bitcoin treasury.