Strive's Bitcoin (BTC) Holdings Hit 25,000 After $36.6 Million Purchase

Strive Adds 469 BTC, Crosses the 25,000 Mark

US asset manager Strive has pushed its Bitcoin (BTC) treasury to exactly 25,000 coins, disclosing in a Form 8-K filed with the SEC on September 14 that it acquired 469 BTC at an average price of $77,954 per coin. The purchase was executed in tranches between September 8 and September 11 and totaled roughly $36.56 million. The filing we reviewed confirms the acquisition was funded entirely through sales of Strive's Series A variable-rate perpetual preferred stock, SATA, which has now surpassed $1 billion in outstanding issuance — a structure that avoids diluting common shareholders while converting preferred capital directly into BTC exposure.

CEO Matt Cole framed the milestone on social media as a “wall-breaking season at Strive,” noting the company's amplification ratio — preferred and debt capital measured against BTC net asset value — has climbed to 53.5%. The pace is decelerating, however: the prior week's haul was 1,375 BTC versus this week's 469. Strive ranks as the fifth-largest corporate BTC holder among listed companies and targets a run at the number-two spot this year; to overtake Twenty One Capital it would need to add roughly 1,234 BTC weekly across the remaining 15 weeks. Its balance sheet also carries 505,000 shares of Strategy's STRC preferred (fair value about $49.8 million as of the September 11 filing) plus roughly $204.2 million in cash, with liquidity further reinforced by the completed merger with medical-device firm Semler Scientific. For context on how such corporate reserves fit into the broader strategic Bitcoin reserve thesis, treasury desks like Strive now represent a distinct accumulation class alongside sovereign and ETF demand for what are effectively institutional-scale whale positions.

Strategy Stays Flat, Buys Back $139 Million in STRC

The contrast with Strategy could hardly be sharper. Strategy's own SEC filing shows the company made no BTC purchases or sales between September 8 and September 13, holding its stack at 845,050 BTC for a second consecutive week. That cache was acquired for a cumulative $63.73 billion at an average cost of $75,412 per coin. Instead of buying, Strategy repurchased 1,424,670 shares of its STRC preferred stock for approximately $139.3 million, a capital-return signal that marks a deliberate pivot from accumulation toward balance-sheet management. Its dollar reserves stand at $5.1 billion.

The divergence matters for market structure. Strive is still levering up on preferred issuance to add coins; Strategy is recycling capital into its own securities; and Japan's MetaPlanet, third among listed holders at 43,000 BTC, has paused purchases outright after its mNAV slipped below 1 and shifted into buybacks. Whether the largest HODL-style treasuries keep absorbing supply is now a live variable for Bitcoin's demand curve — and the House panel's pending vote on a Bitcoin strategic reserve bill could add a further bid from the sovereign side. Readers tracking the market in real time can follow live spot and futures prices on Bybit.

Technical Read: $78,290 Barrier in Focus

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $78,290 resistance at 83/100, driven by the confluence of a Flip S→R, Pivot Point, LVN and Ichimoku Tenkan; the next offer sits at $79,507 (62/100, from Fibo 0.114, R1 and Swing High). Support at $77,139 scores 79/100 via EMA 20, Fibo 0.214 and S1. Spot trades at $77,980, up 1.64% in 24 hours, with RSI at 56.75, a bearish MACD signal against an intact uptrend. Derivatives are calm: funding at 0.0012%, open interest near $14.99 billion, long/short ratio 1.28, while Fear & Greed reads 69 (Greed). A reclaim of $78,290 targets $79,507; losing $77,139 invalidates the short-term long case and exposes $73,674 (71/100).