Strive expanded its Bitcoin position by 317 coins, bringing total holdings to approximately 13,628 BTC and entering the top 10 corporate holders, CEO Matt Cole said in a statement.
Strive acquired 317 BTC for $23 million, at an average cost of approximately $72,555 per bitcoin.
As of 03/18/2026, we were hosting 13,627.9 $BTC.$ASST $SATA pic.twitter.com/oiSJ9FTeeC
– Matt Cole (@ColeMacro) March 19, 2026
The company now ranks ahead of Tesla and CleanSpark in terms of Bitcoin holdings, although this is not the first time it has ranked among the top 10 largest holders.
The Bitcoin-focused treasury company, founded by Vivek Ramaswamy, released its financial results for the fourth quarter of 2025 on Thursday, detailing how the company has accumulated more than 13,600 Bitcoins in approximately six months since its IPO.
The company accumulated nearly 5,900 Bitcoins through the proceeds of an initial private placement and stock transaction, while 5,048 Bitcoins came from its acquisition of Semler Scientific, a company that had built up a Bitcoin reserve. An additional 2,694 Bitcoins were obtained through capital markets activities, including preferred stock offerings.
Financial structure and SATA instrument
Matthew Cole, president and CEO, described the results as a validation of a corporate finance model.
“Among the many successes Strive has achieved in our first six months as a public company, the most significant has been solidifying our foundation as a structured finance company focused on digital credit,” Cole said. He highlighted the company’s SATA perpetual preferred stock product as a vehicle designed to deliver double-digit returns with reduced volatility.
SATA is a floating rate perpetual preferred stock that trades on Nasdaq under its own ticker symbol.
Strive raised approximately $148 million in net proceeds through an IPO of SATA stock in November 2025, pricing two million shares at $80 each. A follow-up offering in late January raised another $109 million, with shares priced at $90.
GAAP financial data
Strive posted a net loss of $393.6 million for the period from its public listing through the end of the year, largely due to non-cash items. About $194.5 million of that deficit came from unrealized losses on Bitcoin, as the asset’s price fell from its October peak of around $126,000 to around $72,000 in early 2026.
Goodwill and intangible asset impairments related to the Semler acquisition added $140.8 million, and transaction costs contributed $12.4 million.
On an adjusted basis that excludes one-time and non-cash charges, the loss attributable to common shareholders narrowed to $208.2 million, or $4.73 per diluted share after accounting for a one-for-twenty reverse stock split executed in early February.
Management has focused on a proprietary metric called “Bitcoin Yield,” which measures the percentage change in Bitcoin per share over a period of time. By this measure, Strive returned 22.2% in the fourth quarter and 13.8% quarter-to-date through mid-March, translating into what the company calls a “Bitcoin gain” of 1,305 coins in the fourth quarter of 2025 and 1,050 so far in 2026.
Strive began as an anti-ESG investment advisory in 2022. Its transformation into a Bitcoin accumulation vehicle reflects a bet that the asset will continue to attract institutional capital and that structured finance tools can generate yield from what was once considered purely speculative holding.
