Today, June 2, Strive (ASST) reported to the SEC the acquisition of 2,500 BTC for $185.2 million, an average price of $74,092 per unit. The Dallas-based treasury company thus crosses the 19,000 BTC milestone and ranks among the top ten listed companies to hold bitcoin.
In brief
- 2,500 BTC purchased at $74,092/unit, reported via Form 8-K on June 2
- Total reserves: 19,000 BTC, BTC YTD yield of 36.7%
- Fundraising program expanded to $4.2 billion to accelerate accumulation
A capital structure designed to buy Bitcoin
Strive did not wait for a favorable market context to act. On the contrary, the company deliberately took advantage of the weakness in the price of bitcoin to execute this purchase, continuing an accumulation strategy launched less than a year ago.
Founded in 2022 by Vivek Ramaswamy as an anti-ESG asset management company, it pivoted to a Bitcoin treasury model after merging with Asset Entities Inc. in September 2025, since trading under the symbol ASST.
Its CEO, Matt Cole, former manager of a $70 billion portfolio at CalPERS, built a tiered capital architecture to finance acquisitions.
Strive combines offerings of common stock, its Nasdaq-listed Series A Floating Rate Perpetual Preferred Stock (SATA), and cash reserves. As of June 2, available cash stands at $137.3 millionup 44 million over the reference period, with a dividend reserve covering 18 months of operation.
Furthermore, the annual dividend rate of SATA shares reaches 13%, which, when capitalized, generates an effective yield of approximately 13.88%. Strive thus aims to make this stock the first American stock to pay cash dividends every business day.
19,000 BTC in less than a year, and a fundraising program doubled
The return in BTC since the start of the quarter stands at 23.0%, that since the start of the year at 36.7%, for an amplification ratio of 57.0%. Strive does not measure its performance in dollars: the objective is to outperform direct exposure to Bitcoin and justify the equity risk premium.
To further accelerate this trajectory, the company simultaneously announced the expansion of its capital raising programs, bringing both the common stock offering and the SATA offering to $2.1 billion each, for a total program of $4.2 billion.
This purchase also comes as Strategy (Nasdaq: MSTR), a historic reference in the sector with 843,706 BTC in reserves, sold for the first time since December 2022 a fraction of its holdings, i.e. 32 BTC for $2.5 million between May 26 and 31. The proceeds were used to finance dividends on its preferred shares. A symbolic turning point that Strive does not seem to want to imitate.
In the end, Strive methodically consolidates its position with 19,000 BTC acquired in less than a year, a debt-free balance sheet, a massive financing program and a performance logic measured in Bitcoin.
The company thus combines three catalysts that are rarely combined: a solid capital structure, management from traditional markets, and a disciplined accumulation strategy.
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