Strive reported buying 15,124 Bitcoin in October 2026, moving it closer to the largest publicly traded corporate Bitcoin holders. But the ranking story sits alongside a substantial preferred-stock dividend rate, earnings driven largely by unrealized gains and expansion plans that remain under evaluation.
Historical report: Cointelegraph published the original article on Nov. 7, 2026, at 02:22:42 UTC+8. Figures below reflect that reporting period.
Fourth place, with a conditional path higher
According to its third-quarter earnings report released Friday, Strive purchased 35,497 BTC during the first 10 months of 2026. It reported holding 43,124 BTC as of Oct. 30, placing it fourth among publicly traded corporate Bitcoin holders, according to BitcoinTreasuries.NET data cited by Cointelegraph.
Strive trailed third-place Twenty One Capital by 390 BTC. It would need another 877 BTC to surpass second-place Metaplanet’s 44,000 BTC—assuming neither rival added to its holdings.
That qualification matters: this is a moving leaderboard, not a fixed finish line. In a September interview, CEO Matt Cole said Strive could become the world’s second-largest publicly traded corporate Bitcoin holder by year-end, while acknowledging that this was not his base-case scenario.
Financing and earnings: what the figures show
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.
The company also reported $509 million in third-quarter net income, driven largely by $533.7 million in unrealized Bitcoin gains. The distinction is important: the reported profit was largely tied to unrealized gains, rather than evidence of a similarly sized operating earnings stream.
Expansion plans are not completed businesses
Strive said it was evaluating opportunities in banking, brokerage, decentralized finance, reinsurance and tokenization as part of a strategy to leverage its balance sheet. Those were areas under consideration, not confirmed operating outcomes.
Chief risk officer Jeff Walton told Cointelegraph that Strive was looking beyond cryptocurrency markets for ways to put its Bitcoin 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.”
That is management’s stated ambition. The report did not establish that those opportunities had already produced the proposed uncorrelated income.
Meanwhile, Strive shares, trading under ASST, fell 1.97% to $20.19 in early trading Friday. Their decline over the preceding month reached 32.15%, according to Yahoo Finance data cited at the time of the original report. The growing Bitcoin balance and the falling share price were both part of the picture; the treasury ranking alone did not describe shareholder performance.