Strive Buys 2,822 More Bitcoin and Clears Out Its Final PIPE Warrants for $369.2 Million

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• Strive, Inc. bought 2,822 bitcoin between October 12 and 13, 2026 at an average price of about $83,266 per coin, a purchase worth roughly $235 million
• Over the same two days, holders exercised all 273,493,909 of the company’s remaining traditional PIPE warrants, converting them into 13,674,703 shares of Class A common stock
• The warrant exercises brought in expected gross proceeds of $369.2 million and left Strive with zero traditional PIPE warrants outstanding as of the close of business on October 13

Strive, Inc. disclosed in an 8-K filed October 14, 2026 that it added another 2,822 bitcoin to its treasury, continuing the aggressive accumulation strategy that has defined the company, which trades on Nasdaq under the tickers ASST for its Class A common stock and SATA for its variable rate Series A perpetual preferred stock. The purchase, made between October 12 and 13, came in at an average price of roughly $83,266 per bitcoin including fees and expenses, putting the total cost at approximately $235 million.

In the same filing, Strive reported a separate but related milestone: every one of its outstanding traditional PIPE warrants, a total of 273,493,909, was exercised over the same two-day window. At a ratio of 20 warrants per share, that exercise converted into 13,674,703 new shares of Class A common stock. The company said it expects gross proceeds of $369.2 million from the exercises, capital that arrived just as Strive was simultaneously deploying hundreds of millions of dollars into bitcoin purchases.

PIPE warrants, short for private investment in public equity warrants, are typically issued to investors who participate in a company’s capital raise before or around a public listing, giving them the right to buy additional shares at a set price for a defined period. Once those warrants are fully exercised, as Strive’s now have been, the company no longer carries that overhang of potential future dilution tied to the original PIPE investors, since the warrants and the shares they convert into have already been accounted for.

The filing, signed by Chief Executive Officer Matthew Cole, did not disclose Strive’s total bitcoin holdings following the October 12-13 purchase, nor did it state the exact exercise price investors paid for the warrants, though dividing the disclosed proceeds by the share count implies a price of roughly $27.00 per share. Strive has positioned itself among a wave of newer, publicly traded companies built explicitly around holding bitcoin as a primary treasury asset, following the model popularized earlier by Strategy, formerly MicroStrategy.

The timing of the purchase and the warrant exercises happening in the same 8-K filing illustrates how closely some bitcoin treasury companies tie their capital-raising activity to their accumulation strategy, using freshly exercised warrant proceeds alongside other financing to fund the next leg of purchases. The 8-K, filed with the SEC, gave no forward guidance on future purchase plans beyond confirming that both the bitcoin acquisition and the warrant exercises had already been completed as of the filing date.