24,531 BTC
Strive total holdings 2
$999 million
Strive SATA notional outstanding 2
845,050 BTC
Strategy total holdings 1
$176.3 million
Strategy STRC repurchases 3

Strive Approaches $1 Billion Preferred Stock Milestone

Strive acquired 1,375 Bitcoin between August 31 and September 4, 2026, spending $109 million at an average price of $79,281 per coin 2. This transaction brought the firm's total inventory to 24,531 Bitcoin, valued at approximately $1.9 billion 2. Chief Executive Officer Matt Cole reported that 70% of the capital deployed for these acquisitions originated from SATA, which is Strive's Variable Rate Series A Perpetual Preferred Stock 2.

SATA carries a fixed dividend rate of 13% annually and reached $999 million in notional outstanding value, bringing the vehicle near a $1 billion valuation 2. The preferred stock structure permits the firm to gather capital without immediate common stock dilution or rigid debt repayment schedules by issuing shares near a $100 face value 2. Strive's cash reserves simultaneously grew from $183.5 million to $202.6 million following the acquisition 2.

Strategy Pauses Bitcoin Accumulation to Repurchase Shares

Following a resumption of Bitcoin acquisitions after a 10-week pause, Strategy halted its accumulation of the asset for the week leading up to September 7, 2026 13. Rather than buying Bitcoin, the Nasdaq-listed enterprise spent $176.3 million to repurchase 1,810,885 shares of its variable rate perpetual stretch preferred stock, known as STRC 13. Founder and chairman Michael Saylor announced that the firm also expanded its digital credit securities repurchase program authorization from $1 billion to $2 billion 13.

Strategy holds 845,050 Bitcoin acquired at a total cost of $63.73 billion, alongside $6.5 billion in total dollar reserves consisting of a $5.10 billion USD Reserve and a $1.44 billion USD Cash pool 13. The company reported an unrealized gain of approximately 3% on its holdings based on a trading price of $77,760 per Bitcoin 3. Strategy shares traded over 3% lower on Tuesday morning in New York following the regulatory filing 1.

Comparative Treasury Metrics and Growth Trajectories

Strive represents the fifth largest corporate Bitcoin treasury globally, operating as a public entity since its September 2025 merger with Asset Entities 2. Chief Risk Officer Jeff Walton noted that Strive expanded its gross holdings by 5.9% week over week from 23,156 BTC to 24,531 BTC, marking its third consecutive week of growth exceeding 5% 2. The firm's three-week expansion reached 21.1% 2.

Strive aims to close the gap with Twenty One Capital, which holds approximately 43,500 Bitcoin as the second-largest public treasury behind Strategy 2. Strive maintains access to over $700 million in outstanding warrants that could yield up to $1.4 billion for future acquisitions 2. Meanwhile, Strategy executives Michael Saylor and Phong Le contested an index rule proposed by MSCI that could result in the removal of Strategy from global benchmarks, which currently track 3.1% of the firm's basic shares 3.

What is not yet established

  • Whether SATA will maintain parity during a market downturn as deep as the one experienced by Strategy's STRC preferred shares
  • The final outcome of the MSCI index rule consultation and whether Strategy will be removed from global benchmarks
  • How many of Strive's outstanding warrants will be exercised to fund future Bitcoin acquisitions

Frequently asked questions

How does Strive fund its Bitcoin acquisitions?

Strive raises capital through a rotating mix of common stock and its SATA Variable Rate Series A Perpetual Preferred Stock, which provided 70% of the capital for its early September 2026 purchases 2.

What are Strategy's total Bitcoin holdings and cash reserves?

As of September 7, 2026, Strategy holds 845,050 Bitcoin alongside $6.5 billion in total dollar assets, which includes $5.10 billion in a USD Reserve and $1.44 billion in USD Cash 13.

Sources

  1. Bitcoin Magazine — Strategy Halted Its Bitcoin Buys Again Last Week (2026-09-08) https://bitcoinmagazine.com/news/strategy-halted-bitcoin-buys-last-week
  2. Decrypt — Strive Buys $109 Million in Bitcoin, Pushes Preferred Stock Toward $1 Billion (2026-09-08) https://decrypt.co/377689/strive-buys-109-million-bitcoin-preferred-stock-1-billion
  3. Decrypt — Strategy's Return to Bitcoin Buying Lasted Exactly One Week (2026-09-08) https://decrypt.co/377664/strategys-return-to-bitcoin-buying-lasted-exactly-one-week

This brief is for information and education. It is not financial advice or a recommendation to buy or sell.