The Nasdaq-listed firm now holds 43,124 BTC, leaving it within striking distance of Metaplanet's roughly 44,000 BTC
Strive just added 124 Bitcoin to its balance sheet. That brings the company’s total holdings to 43,124 BTC.
By Strive’s recent standards, 124 coins is a rounding error. The real significance is where it lands the company: a short distance behind Metaplanet in the ranking of public Bitcoin treasuries.
A small buy after a very loud month
Strive, Inc. trades on Nasdaq under the ticker ASST. Vivek Ramaswamy co-founded it, and Matt Cole runs it as CEO.
Strive made several large Bitcoin purchases during October. One batch covered 2,000 BTC for roughly $169 million. Another picked up 3,311 BTC for about $280 million.
Then came the headliner. In a single week, Strive bought 6,182 BTC for approximately $511 million, a record for the company. Research findings also point to steady weekly buying that added up to more than 4,045 BTC.
Metaplanet, the company Strive is chasing, holds around 44,000 BTC as of early-to-mid October 2026. Its average cost basis sits between $88,551 and $98,454 per BTC, depending on the measure.
From 7,500 coins to 43,124 in under a year
Strive closed out 2025 with about 7,500 BTC. It now holds 43,124 BTC, more than five times that figure, by late October 2026.
The funding method is the part worth paying attention to. Strive has leaned mostly on perpetual preferred stock rather than debt to finance its purchases.
In mid-October, Strive raised about $630 million from its SATS preferred shares. That single raise covers a large chunk of the month’s buying spree.
The broader leaderboard puts things in perspective. Strategy sits far ahead of everyone with roughly 848,000 BTC. MARA Holdings holds around 35.5k BTC, which Strive has now passed.
Research findings place Strive at around fourth among public companies by Bitcoin held as of late October. On the figures available, the gap to Metaplanet works out to less than 1,000 BTC.
Strive’s stated ambition is to become the second-largest public Bitcoin treasury, trailing only Strategy.
Two treasury companies, two different playbooks
Metaplanet has paused its Bitcoin accumulation to focus on share buybacks and paying down debt.
The contrast says a lot about where Bitcoin treasury companies stand in late 2026. One firm is still raising capital and converting it into coins. The other is pulling back to shore up its balance sheet and support its stock.
What this means for investors and the treasury trade
For ASST shareholders, the question is less about the leaderboard and more about the funding structure. Preferred stock avoids the refinancing pressure that comes with debt. It still carries ongoing dividend obligations, which come ahead of common shareholders.
The cost basis comparison is also worth tracking. Metaplanet’s average sits at $88,551 to $98,454 per coin.
The diverging strategies also hint at uneven access to capital. Companies that can still issue preferred stock at scale keep buying. Those that cannot shift toward defensive moves like buybacks and debt repayment.
Beyond the rankings, the more telling metric will be whether Strive can keep tapping preferred stock markets on favorable terms. Its rapid rise has been built on that pipeline, and its next move up the table likely depends on it staying open.
