12h05 ▪ 5 min read ▪ by Ariela R.
Summarize this article with:
According to its 8-K form dated October 19 filed with the SEC, Strive bought 4,045 bitcoins between October 12 and 16, 2026, for approximately 334.9 million dollars. Its Bitcoin reserve now reaches 36,818 BTC. But this accumulation hardly results in an increase in the number of bitcoins held per common share. The fact is that the number of outstanding shares has increased in comparable proportions.
In brief
- Strive acquired 4,045 BTC between October 12 and 16, 2026, at an average price of $82,803 per bitcoin, fees included.
- The company now holds 36,818 BTC, compared to 32,773 BTC a week earlier.
- The exercise of warrants brought in about $369.2 million gross, with no confirmed direct link to BTC purchases.
- Despite a 12.3% increase in its reserve, the ratio per common share falls about 0.04% due to the increase in the number of shares.
How did Strive finance the purchase of 4,045 bitcoins ?
The average acquisition price stands at $82,803 per bitcoin, fees and expenses included. The operation includes two purchases:
- 2,822 BTC on October 12 and 13 ;
- 1,223 BTC between October 14 and 16 (at about $81,734 per unit for this second tranche).
Strive also reported about $369.2 million in gross revenues from the exercise of warrants on October 12 and 13. These instruments give their holders the right to subscribe to shares at a pre-set price. The operation resulted in the issuance of about 13.7 million class A common shares.
The estimated cost of the bitcoins, about $334.9 million, represents nearly 91% of these gross revenues. However, Strive does not explicitly establish a direct link between the funds from warrants and the BTC purchases.
As of October 16, the company held 36,818 BTC, compared to 32,773 BTC a week earlier (according to its 8-K form). This increase represents about 12.3% in one week. Making it the fifth largest publicly traded bitcoin holder.
Why does bitcoin per share remain almost stable ?
The accumulation of bitcoins is not enough to measure the evolution of shareholders’ exposure. The number of outstanding shares must also be taken into account.
| Indicator | October 9 | October 16 |
| Bitcoins held | 32,773 BTC | 36,818 BTC |
| Outstanding common shares | 110.39 million | 124.06 million |
| BTC per common share | About 0.0002969 | About 0.0002968 |
According to our calculations, Strive’s bitcoin reserve increased by about 12.3% while the number of outstanding common shares rose about 12.4%. The BTC per common share ratio therefore falls roughly 0.04%.
The result differs when using the number of fully diluted shares, which notably includes certain employee stock options and awards. On this basis, the number of satoshis per share rises from about 28,973 on October 9 to 29,039 on October 16. This represents an increase close to 0.23%.
These indicators do not measure the stock price nor its profitability. They only allow assessing the evolution of the quantity of bitcoins relative to different share count bases.
SATS: a $630 million issuance to watch
On October 15, Strive announced that it set the price for its issuance of 7 million SATS preferred shares at $90 per unit. The expected gross proceeds reach about 630 million dollars, before commissions and fees.
These securities provide a 15% annual dividend rate applied to a nominal value of $100 per share. The payment remains subject to the issuance terms and, for the dividends concerned, their declaration by the board of directors.
Strive indicates that it intends to allocate funds to its general needs. These may include:
- new bitcoin purchases ;
- revenue-generating assets ;
- share buybacks.
The actual use of funds to buy BTC is therefore not confirmed.
The settlement of the issuance is moreover scheduled for October 20, 2026, subject to usual closing conditions.
In any case, Strive’s next regulatory document will allow verifying the evolution of its bitcoin reserve. For investors, the challenge is to distinguish the growth of the BTC reserve from the real evolution of bitcoin per share.
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Ariela R.
My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.