Strive Adds 6,182 BTC, Closing In on Top Holders
Strive bought 6,182 BTC for about $511 million between 17 and 23 October, lifting its Bitcoin treasury to roughly 43,000 BTC, according to an SEC filing. It is close to Metaplanet’s 44,000 BTC and Twenty One Capital’s 43,514 BTC, but still needs to pass both to reach second place among public corporate holders. Strategy remains far ahead with 848,517 BTC. Strive’s purchases were funded by a $630 million preferred-stock IPO carrying a 15% annual dividend. It has also filed for a preferred-stock at-the-market offering of up to $1 billion, which could fund further Bitcoin purchases as well as other corporate needs. The financing may support continued BTC accumulation, but its dividend costs and potential dilution are risks. Strive’s buying adds to corporate Bitcoin demand; meanwhile, Strategy has paused BTC purchases and bought back preferred shares. Holdings rankings may shift as treasury firms compete to accumulate Bitcoin.
Bullish
Strive’s 6,182 BTC purchase adds a sizeable corporate buyer to the Bitcoin market and reinforces the narrative of growing institutional and corporate treasury demand. Such accumulation can support sentiment and, over time, tighten the available supply if other companies follow. The direct near-term price effect may nevertheless be limited: the purchase has already taken place, and its scale is small relative to Bitcoin’s overall market and trading volume. Traders may also have priced in some of the news. Longer term, continued buying could provide support, but Strive’s 15% preferred-stock dividend and potential dilution make the funding model costly and could constrain future purchases. The pause in Strategy’s buying also tempers the demand signal. Overall, the development is modestly supportive for BTC, with market-wide flows and broader risk sentiment likely to remain more influential for price action.