Nasdaq-Listed Treasury Firm Strive Adds 3,311 Bitcoin (BTC)

The Week to Oct. 9

The Nasdaq-listed Bitcoin (BTC) treasury company Strive (ASST) bought 3,311 BTC in the week ending Oct. 9 at an average price of roughly $84,500 a coin, fees included, according to a Tuesday filing with the US Securities and Exchange Commission. The purchase lifted holdings from 29,462 BTC on Oct. 2 to 32,773 BTC, placing Strive fifth among publicly traded corporate holders of a stack that now operates as a corporate strategic Bitcoin reserve. Cash and equivalents rose to about $310.3 million over the same stretch.

The buying was funded largely by warrant exercises. In a post on X, chairman and CEO Matt Cole said investors had exercised $208 million of the company's traditional warrants, with approximately 15.3 million remaining ahead of a Tuesday 5 p.m. ET expiration. Because each exercise pays cash into Strive in exchange for shares, the week turned accretive for existing holders: reserves grew 11.2% while the effective common share count grew 9.4%, so every share ended the period backed by more coin than it began with.

The approach earned a public endorsement from Michael Saylor, a leading voice of Bitcoin maximalism whose Strategy pioneered the corporate treasury model and ranks as the market's largest crypto whale. “Strive is turning demand for digital equity (ASST) and digital credit (SATA) into demand for Bitcoin (BTC),” Saylor wrote on X, calling the pattern an acceleration of adoption by capital markets. Strategy itself added a comparatively modest 250 BTC last week, taking its holdings to 848,250 BTC, and leaned toward capital returns, having spent $368.7 million on STRC buybacks.

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The Bitcoin (BTC) price, which rebounded to $83.3K in Tuesday trading, held near $83,500 at the time of writing, leaving the week's newest coins marginally underwater against their average cost.

A Binding $100 Floor for SATA

Strive paired the purchase report with a second filing, registered with the Nevada Secretary of State, that amends the terms of its Variable Rate Series A Perpetual Preferred Stock (SATA), an instrument that pays dividends daily. The amendment bars the company from selling new SATA shares below $100 each before discounts and fees, converting a previously announced policy into a restriction written into the stock's governing documents; Cole called it “a binding restriction in governing docs, formalizing the protection.” SATA last traded at $99.40. The preferred sits inside an equity-and-preferred structure now standard across corporate Bitcoin treasuries.

The same amendment redefines a business day to include Saturdays and Sundays, which would let SATA pay its daily dividend on weekends if the New York Fed, Nasdaq and the Depository Trust Company approve; management says it does not expect the near-term dividend cadence to change. The board held SATA's annual dividend rate at 13.00% for periods starting Nov. 1 and declared a daily cash dividend of $0.0571 a share for each of November's 19 business days. Shares outstanding rose 532,094 in the week to Oct. 9, to 14,030,176.

The raise behind the accumulation follows the same script. Cole said on Sept. 2 that more than $700 million of warrants were set to expire in mid-October and that proceeds could go toward further purchases if holders exercised them; the company had reported 23,156 Bitcoin (BTC) as of Aug. 28. The filing behind Tuesday's disclosure shows shares underlying the outstanding warrants falling by 7,993,806 in the week to Oct. 9, to 15,255,900, while Class A shares outstanding grew by about 9.46 million, a count that includes shares sold through 4 p.m. and issued the next business day.

Our live support and resistance levels frame where the accumulation sits: strongest support rests at $80,947 with a score of 95 out of 100, while the nearest resistance, $84,492, scored 85 and stands just above Strive's $84,500 average cost. Spot traded at $83,520 at the time of writing, up 0.7% on the day after the coin reclaimed $83,000 earlier this week. Perpetual funding ran at 0.0056% and open interest stood near $15.8 billion, a derivatives book that reads neutral rather than crowded. A push through $84,492 would put the newest tranche back in paper profit; losing $80,947 would deepen the deficit. Either way, Strive enters the warrant expiry with the $100 SATA floor now written into its charter, and the treasury, not an adjacent asset-management business, is the company.