Strive Adds 3,311 Bitcoin as Warrants Covering 15.3 Million Shares Near Expiry

Introduction

Strive, the Nasdaq‑listed bitcoin treasury company, disclosed a flurry of activity in early October 2026. Between October 5 and October 9 the firm purchased 3,311 BTC, pushing its total bitcoin balance to 32,773 BTC. At the same time, holders exercised roughly $208 million worth of traditional warrants ahead of the 5 p.m. ET expiry on October 13, leaving about 15.3 million shares still covered by unexercised warrants. In a related filing, Strive formalized a $100 minimum sale price for its Variable Rate Series A Perpetual Preferred Stock (SATA), turning a previously announced policy into a binding charter rule.

Bitcoin Accumulation

Strive’s recent acquisition added 3,311 BTC to its treasury, increasing the average purchase price to about $84,500 per coin, fees included. The purchase lifted the company’s bitcoin holdings from 29,462 BTC on October 2 to 32,773 BTC a week later. Cash and cash equivalents grew to roughly $310.3 million over the same period, reflecting the firm’s continued commitment to expanding its digital‑asset balance sheet.

Warrant Exercise Activity

The company’s October 13 filing shows that warrant holders paid $208 million to exercise their rights before the deadline, reducing the number of shares underlying outstanding warrants by 7,993,806 to 15,255,900. While the filing does not break down the timing of the $208 million in exercises, CEO Matt Cole confirmed on X that the remaining warrants—approximately 15.3 million shares—were set to expire at 5 p.m. ET on Tuesday. Earlier in September, Cole had warned that more than $700 million of warrants were slated to expire in mid‑October, suggesting that any proceeds could be directed toward additional bitcoin purchases if exercised.

Formalizing the SATA Floor

In a separate amendment filed with the Nevada Secretary of State, Strive codified a $100 minimum sale price for its SATA preferred shares, making the rule enforceable under the stock’s governing documents. The change is intended to protect shareholders by preventing the issuance of new SATA shares at prices below the established floor, even after discounts and fees. The amendment also redefined a “business day” to include weekends, allowing daily dividends to be paid on Saturdays and Sundays, subject to regulatory approval. Strive’s board maintained the annual dividend rate at 13.00 % for periods beginning November 1 and declared a daily cash dividend of $0.0571 per share for each of November’s 19 business days. SATA shares outstanding rose by 532,094 to 14,030,176 in the week to October 9.

Practical Takeaways

• Bitcoin holdings are now over 32,700 BTC, reinforcing Strive’s position as a large‑scale corporate custodian of the cryptocurrency.
• $208 million in warrant exercises were completed before the October 13 deadline, leaving a sizable pool of unexercised warrants that could influence future share dilution.
• The $100 minimum price for SATA shares is now a binding charter provision, providing a clearer floor for preferred‑stock transactions and potentially stabilizing the market for Strive’s perpetual preferred securities.
• Dividend policy remains steady, with the board confirming the 13 % annual rate and daily cash payouts for November.

Conclusion

Strive’s recent bitcoin purchases, substantial warrant exercises, and the formalization of a $100 floor for SATA preferred shares illustrate a strategic push to solidify its asset base and protect shareholder interests. Market participants should monitor the remaining warrant pool and the impact of the new SATA pricing rule on future capital‑raising activities, as these factors will shape the company’s financial trajectory in the coming months.