Strive Inc., the Nasdaq-listed asset management firm trading under the ticker ASST, acquired 1,800 Bitcoin last week for approximately $143 million. The purchases, completed between August 24 and August 28 at an average price of $79,431 per coin including fees and expenses, lifted the company’s total holdings to 23,156 BTC.

The expanded position, valued at roughly $1.8 billion as of August 31, moved Strive ahead of crypto exchange operator Bullish and into the fifth spot among publicly traded corporate Bitcoin holders.

Rapid Rise in Corporate Rankings

Prior to the latest buying, Strive held 21,356 BTC. Bullish, which sold 1,700 BTC at the end of June, stood at 22,000 BTC. The 1,800-token addition allowed Strive to pass Bullish on industry tracking lists.

Both firms trail MARA Holdings, which holds 35,577 BTC, and remain well behind Strategy, the company formerly known as MicroStrategy, which owns 845,050 BTC after recent purchases. Strive’s climb continues a pattern of aggressive accumulation that began after its September 2025 merger with Asset Entities and expanded further with the January 2026 all-stock acquisition of medical device firm Semler Scientific.

Equity and Preferred Stock Fuel Purchases

Strive financed the latest tranche primarily through at-the-market sales of its common stock (ASST) and preferred stock (SATA). The SATA security, a variable-rate perpetual preferred that pays a 13 percent annualized dividend distributed every business day, has served as a key funding vehicle when it trades near its $100 par value.

Chief Executive Officer Matt Cole has described SATA as a distinctive instrument in U.S. markets that supports the bulk of the firm’s Bitcoin buying. The most recent 1,800 BTC purchase followed an earlier acquisition of 1,110 BTC for $81.5 million between August 17 and 21. Over that prior period, cash reserves rose to $171.9 million after $17.1 million in proceeds from share sales. One subsequent report placed cash and cash equivalents at $183.5 million after the latest activity.

Continued Buying Amid Quarterly Loss

The firm maintained its accumulation strategy even after reporting a net loss of $257.6 million for the quarter ended June 30. Approximately 94 percent of that loss was attributed to declines in the fair value of Bitcoin holdings and the company’s stake in Strategy’s preferred shares. The Semler Scientific medical device operations acquired earlier in the year posted near-doubling of revenue year-over-year to $2.94 million.

Cole has stressed that Strive operates with a debt-free balance sheet, no margin requirements, and fully unencumbered Bitcoin holdings, positioning the company to navigate price volatility.

Market Context and Share Reaction

The purchases occurred as Bitcoin recovered from earlier weakness, supported in part by U.S. Treasury plans to expand long-term bond buybacks that helped lower yields and lift risk assets. Bitcoin had rallied more than 23 percent in the period leading into the buys, briefly trading above $81,000 before settling near $78,000.

ASST shares rose more than 5 percent in response to the announcement, extending a strong monthly performance. The preferred SATA shares traded near or slightly below par value amid broader market fluctuations.

Strategy, the largest corporate holder, separately resumed buying after a pause, acquiring 4,603 BTC and lifting its total above 845,000. Corporate treasury activity has accelerated as firms deploy capital raised through equity programs during periods of improved risk appetite.

Strive’s latest move underscores the competitive dynamics among public companies treating Bitcoin as a core balance-sheet asset, with relative rankings shifting quickly based on the pace of accumulation.