Original publication: November 7, 2026, at 02:22:42 UTC+08:00.
Strive purchased 15,124 Bitcoin in October 2026, bringing its purchases for the first 10 months of the year to 35,497 BTC, according to its third-quarter earnings report released Friday.
The buying pushed the Bitcoin treasury company closer to the largest publicly traded corporate holders. But the growing treasury did not prevent a decline in its shares, and its reported quarterly profit came largely from unrealized Bitcoin gains.
Closing in on the top three
Strive held 43,124 BTC as of October 30, ranking fourth among publicly traded corporate Bitcoin holders, according to BitcoinTreasuries.NET data cited by Cointelegraph.
It trailed third-place Twenty One Capital by 390 BTC. To overtake second-place Metaplanet, which held 44,000 BTC, Strive would need another 877 BTC—assuming neither rival added to its holdings.
In a September interview, CEO Matt Cole said Strive could become the world’s second-largest publicly traded corporate Bitcoin holder by year-end. He also acknowledged that this was not his base-case scenario.
Fresh financing, but no specified Bitcoin allocation
Strive raised approximately $609 million in net proceeds through an October offering of its SATS perpetual preferred stock, which carries a 15% annual dividend rate. The company had not specified how much of those proceeds it would allocate to Bitcoin purchases.
For the third quarter, Strive reported $509 million in net income, driven largely by $533.7 million in unrealized Bitcoin gains. That distinction matters: the reported earnings were largely attributable to gains on its Bitcoin holdings rather than realized sales.
Expansion plans remain under evaluation
The earnings report said Strive was evaluating opportunities in banking, brokerage, decentralized finance, reinsurance and tokenization as part of a broader effort to leverage its balance sheet. These were areas under consideration, not confirmed launches.
Chief risk officer Jeff Walton told Cointelegraph the company was looking beyond cryptocurrency markets for ways to put its holdings to work.
“We believe that some of the bigger opportunities are crossing the aisle into traditional finance, operating as a structured finance company, and finding yield and distribution that is not correlated to Bitcoin or crypto,” Walton said.
Despite the treasury growth, Strive shares, trading under ASST, fell 1.97% to $20.19 in early Friday trading. Their decline over the preceding month reached 32.15%, according to Yahoo Finance data cited at the time of the original report. The larger Bitcoin balance and potential ranking gains therefore should not be confused with stronger share-price performance or proof that the proposed expansion will succeed.