Strive CEO Matt Cole Says It May Sell Bitcoin If Shareholders Benefit
Strive (Nasdaq: ASST) CEO Matt Cole said the company would consider selling Bitcoin if it benefits shareholders, while maintaining a commitment to remain a net buyer overall.
Strive currently holds 19,882 BTC (early July 2026), placing it among the world’s top public corporate Bitcoin holders. Its BTC stack grew from about 5,000 BTC in fall 2025 to nearly four times that amount, supported by equity raises and structured products. In early June 2026, Strive bought 2,500 BTC for $185 million.
The company emphasizes a conservative balance sheet: zero debt, no encumbered holdings, and reserves sufficient for 18 months of dividend obligations. Cole said the firm could theoretically withstand a severe Bitcoin drawdown.
To avoid selling BTC for cash needs, Strive uses Variable Rate Series A Perpetual Preferred Stock (Nasdaq: SATA), currently yielding 13%. The raised capital is intended to be redeployed into more Bitcoin, aiming to generate “alpha” versus simple buy-and-hold.
Strive also expanded via the acquisition of Semler Scientific, increasing its total BTC exposure.
From a trader’s perspective, this is a nuance for Bitcoin flows: Strive signals flexibility to sell Bitcoin tactically, but the overall “net buyer” positioning likely supports dip-buying sentiment.
Neutral
Strive’s CEO said the company could sell Bitcoin if it improves shareholder outcomes, but it still intends to remain a net buyer over time. That mix reduces the “always buy” certainty that bulls like, yet the debt-free balance sheet and ongoing accumulation capacity are supportive.
In the short term, the headline “may sell Bitcoin” can add volatility around BTC as traders reprice potential secondary selling risk from corporate treasuries. However, the stated design—using SATA preferred stock cashflows to avoid selling—aims to dampen that risk.
In the longer term, the market will likely focus on whether Strive can sustain its 13% preferred-stock dividend without forcing BTC sales during downturns. Similar corporate-treasury episodes historically show that leverage or liquidity constraints can turn “buy-the-dip” narratives into forced sellers; here, Strive’s zero-debt setup is meant to prevent that. If BTC drawdowns remain survivable and payouts hold, Strive’s net-buyer posture could continue to support demand. If dividend coverage weakens, traders may start treating corporate flow as more discretionary, which could cap upside.
Net: mildly supportive fundamentals, but the optionality to sell Bitcoin keeps the overall expected market impact from being clearly bullish.