Bitcoin
Strive Expands Bitcoin Reserves as Strategy Pauses Purchases to Fund Buybacks
Different preferred share valuations explain why Strive acquired more Bitcoin while Strategy focused capital on repurchasing its own discounted shares.
Strive acquired 1,375 Bitcoin between August 31 and September 4, 2026, investing roughly $109 million at an average price of $79,281 per token. This purchase brought the company's total reserves to 24,531 BTC.
In contrast, Strategy purchased no Bitcoin during the same timeframe, instead allocating $176.3 million toward repurchasing 1,810,885 shares of its preferred stock. The company's board doubled its repurchase program authorization to $2.0 billion on September 8, taking advantage of its STRC shares trading near $98, below their $100 par value.
Strive's preferred shares trade around their $100 par value, enabling ongoing capital generation to finance Bitcoin acquisitions. According to Chief Executive Matt Cole, preferred shares provided 70% of the funds Strive raised in the prior week, with common stock sales providing the remaining 30%. However, Strive remains committed to paying a 13% annualized daily cash dividend on the $999 million notional outstanding.
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