Strive's Bitcoin Expansion
Strive Expands Bitcoin Holdings to 19,882 BTC, Reinforcing 'Bitcoin-First' Investment Strategy
Key Points
In Q2, Strive bought 6,236 BTC at an average cost of $74,290 per coin, lifting its holdings to 19,864 BTC by June 30; a follow-up purchase of 17.76 BTC pushed total to 19,882 BTC by July 2.
Strive’s blended cost basis per BTC stood at about $94,761 as of June 30, while the price of bitcoin closed near $58,631 at quarter end, implying a decline in market value despite the larger position.
Leverage expanded via the Variable Rate Series A Perpetual Preferred Stock (SATA), with SATA outstanding around $783 million by June 30 and an annualized dividend obligation near $101.8 million, underscoring a rising cash-cost financing dynamic.
Liquidity and asset mix remained substantial: cash amounted to about $144.5 million as of June 30, and Strive held roughly 505,000 shares of STRC valued near $42.9 million, contributing to total assets near $1.35 billion.
Market-facing analyses flag investment risk: GF Score 9/100 and an Altman Z-score of 21.55; GuruFocus also notes a high price-to-sales ratio (P/S) of 16.79 and reports a neutral rating from Spark for ASST.
Strive Inc. (ASST) now holds 19,882 bitcoin after buying 17.76 BTC between June 29 and July 2 at an average price of $59,850 per coin, according to Bitcoin Magazine. The symbolically named purchase — a nod to the year 1776 and U.S. independence — pushed the company's total holdings past 19,882 BTC, cementing its place among the largest publicly traded bitcoin holders in the world.
The move followed a strong second quarter in which Strive added 6,236 BTC at an average of $74,290 per coin. Crypto Briefing noted the company now ranks roughly 7th or 8th among public companies by bitcoin holdings.
Q2 Bitcoin Buying Spree Lifts Holdings to Record High
Strive entered the second quarter with aggressive buying. The company added 6,236 BTC in the three months ended June 30, reaching 19,864 BTC at quarter's end. The small follow-up buy of 17.76 BTC then pushed the total to 19,882 BTC by July 2, according to TipRanks.
The Q2 pace reflected a deliberate bitcoin-first strategy. Management has consistently used preferred equity — not cash alone — to fund its coin purchases, allowing the company to scale its BTC balance sheet quickly.
Falling Bitcoin Price Creates a Cost Basis Problem
Despite the growing pile of coins, Strive faces a math problem. Its blended cost per BTC stood at about $94,761 as of June 30. But bitcoin closed near $58,631 that same day. That gap means the market value of its holdings was well below what it paid.
Still, Strive reported a 24% bitcoin yield for Q2. This metric tracks gains in bitcoin holdings per share — not traditional profit. Bitcoin Magazine noted the company itself warns that this figure is not a standard financial measure and should not replace conventional earnings data.
Preferred Stock Financing Drives Up Leverage and Dividend Costs
Strive funds much of its bitcoin buying through its Variable Rate Series A Perpetual Preferred Stock, known as SATA. Outstanding SATA reached roughly $783 million by June 30. The annual dividend obligation tied to that debt came in near $101.8 million, according to GuruFocus.
That's a heavy cash cost for a company with $144.5 million in cash on hand. Strive also held about 505,000 shares of STRC stock valued near $42.9 million, with total assets sitting near $1.35 billion. The leverage profile is rising fast alongside the bitcoin stack.
Risk Scores Flash Warning Despite Bullish Bitcoin Bet
Market watchers are not ignoring the risks. GuruFocus gave ASST a GF Score of just 9 out of 100 — a very low mark. The site also flagged a high price-to-sales ratio of 16.79 and issued a neutral rating via its Spark tool.
The Altman Z-score came in at 21.55, which typically signals financial stress. Strive's bet is clear: if bitcoin rebounds well above $94,761, the strategy pays off. If it doesn't, the preferred dividend obligations and cost basis overhang could weigh heavily on the balance sheet.
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