Bitcoin treasury Strive buys $85.4M to beat Coinbase

Strive Bitcoin treasury holdings reached 16,500 BTC after an $85.4 million buy that leapfrogged both Coinbase and Riot Platforms.

Strive, Inc. disclosed via an 8-K filing on May 26 that it purchased 1,109 Bitcoin (BTC) between May 19 and May 22 for approximately $85.4 million at an average cost of around $76,988 per coin.

The acquisition brings Strive’s total Bitcoin holdings to 16,500 BTC, pushing the company ahead of Coinbase and Riot Platforms in the public corporate Bitcoin holder rankings.

“Strive acquired an additional 1,109 BTC for ~$85.4 million at an average cost of ~$76,988 per bitcoin,” CEO Matt Cole posted on X alongside an internal snapshot of the company’s performance metrics.

https://twitter.com/ColeMacro/status/2059244955114319982?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow

How Strive climbed to seventh place among public Bitcoin holders

The $85.4 million purchase follows earlier May acquisitions of 382 BTC for $30 million on May 18 and 444 BTC for $33.9 million in early May. Strive completed its acquisition of Semler Scientific in January 2026, entering that transaction with 12,798 BTC and ranking eleventh among public corporate holders. It has since added more than 3,700 BTC to climb to seventh.

Strive funds Bitcoin accumulation primarily through at-the-market equity sales and its Variable Rate Series A Perpetual Preferred Stock instrument, the SATA shares, which carry a 13% annual dividend.

The SATA offering raised more than $225 million in an oversubscribed January 2026 round that attracted over $600 million in demand, providing a sustained capital base for continued purchases.

The company reported a year-to-date Bitcoin yield of 23.4%, a quarter-to-date yield of 11.0%, and an amplification ratio of 45.2%. Strive defines Bitcoin yield as the percentage change in Bitcoin per share outstanding, its primary performance metric against a Bitcoin benchmark.

Crypto.news has reported on Strategy CEO Michael Saylor saying a Bitcoin sale is “not unlikely” before year-end, providing context for how corporate Bitcoin treasury strategies are diverging as holdings mature.

What Strive’s position signals about the corporate Bitcoin accumulation landscape

Strive’s 16,500 BTC places it just above Coinbase’s 16,492 BTC and well above Riot’s 15,680 BTC. Strategy remains the dominant corporate holder by a wide margin with 818,334 BTC.

The gap between Strategy and the next-largest holders illustrates how concentrated the corporate Bitcoin (BTC) accumulation story remains, with a handful of firms accounting for the overwhelming majority of publicly held BTC.

Crypto.news has covered MARA Holdings selling $1.5 billion in Bitcoin to fund its AI infrastructure pivot, a contrasting approach to Strive’s pure accumulation model.