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On July 27, 2026, Strive, Inc. revealed it purchased 79 bitcoin during the week of July 20–24, 2026, at an average price of about $65,723 per bitcoin, inclusive of fees and expenses. This transaction increased the company's total bitcoin holdings to 20,000 BTC, underscoring its ongoing digital asset treasury strategy. The filing also updates positions in cash, preferred stock holdings, and share capitalization as of July 24, 2026.
Key Points
- NASDAQ: ASST (Class A common stock); NASDAQ: SATA (Variable Rate Series A Perpetual Preferred Stock)
- Strive acquired 79 bitcoin between July 20–24, 2026, at an average cost of approximately $65,723 per bitcoin, including fees and expenses
- Total bitcoin holdings rose from 19,921 BTC to 20,000 BTC; cash and cash equivalents decreased from $157.4 million to $154.0 million as of July 24, 2026
- Effective common shares outstanding increased to 84,099,973 from 83,669,973; assumed fully diluted shares rose to 86,694,972
Details on Bitcoin Purchase and Pricing
The filing discloses that Strive completed a bitcoin purchase during the five-day span from July 20 through July 24, 2026. The company acquired 79 bitcoin at an average price of approximately $65,723 per bitcoin, inclusive of all fees and expenses. This acquisition raised Strive’s bitcoin holdings from 19,921 BTC to a round figure of 20,000 BTC, reflecting a planned expansion of its digital asset treasury.
This increase aligns with Strive’s strategic focus on Bitcoin treasury management, as outlined in the forward-looking statements section of the filing. Management has acknowledged risks related to Bitcoin and other digital assets as part of its broader strategy. The pricing achieved during this period offers insight into the cost basis for the company’s capital deployment into bitcoin in mid-2026.
Changes in Cash Reserves and Liquidity
Strive’s cash and cash equivalents balance declined by $3.4 million from $157.4 million on July 17, 2026, to $154.0 million on July 24, 2026. This reduction corresponds with the funding of the bitcoin acquisition during the reported period. The move signals a deliberate capital allocation prioritizing digital asset accumulation over maintaining peak liquidity.
The relatively small cash decrease compared to the bitcoin purchase size suggests Strive may have used leverage, prior bitcoin holdings, or alternative funding sources beyond immediate cash reserves. The filing does not specify the exact funding methods for the 79 bitcoin purchase. Investors should note that as of the latest report, Strive held approximately $154.0 million in cash and cash equivalents, described without further detail on composition.
STRC Stock Valuation Update
The filing provides updated data on Strive’s holdings of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC Stock) of Strategy Inc. As of July 24, 2026, the fair value of these holdings was $43.879 million, up $808,000 from $43.071 million on July 17, 2026. The number of STRC shares held remained steady at 505,000.
The increase in fair value without a change in share count indicates mark-to-market gains on STRC Stock during the period. This appreciation may partially offset capital deployed toward bitcoin acquisition. The filing does not elaborate on the relationship between Strive and Strategy Inc. or factors influencing the preferred stock’s valuation changes.
Growth in Class A Common Stock Outstanding
Strive’s Class A common stock outstanding rose from 73,869,961 shares on July 17, 2026, to 74,307,438 shares on July 24, 2026, an increase of 437,477 shares. These figures include shares sold through 4:00 p.m. Eastern Standard Time, to be issued on the next business day. This growth likely reflects share offerings or equity award exercises during the period.
Meanwhile, Class B common stock shares decreased slightly from 9,800,012 to 9,792,535 shares, a reduction of 7,477 shares. The net effect was an increase of 430,000 shares in Effective Common Shares Outstanding (sum of Class A and Class B), rising from 83,669,973 to 84,099,973 shares. The filing does not specify reasons for these class-specific changes, which typically arise from equity compensation or corporate actions.
Diluted Share Count and Equity Awards
The Assumed Fully Diluted Shares Outstanding, encompassing all potentially dilutive securities such as options and unvested restricted stock units (RSUs), increased by 430,000 shares from 86,264,972 to 86,694,972 as of July 24, 2026. This aligns with the rise in Effective Common Shares Outstanding, indicating stable dilutive impact from employee equity awards. Options outstanding remained at 997,730, while unvested RSUs slightly decreased from 1,613,432 to 1,597,269.
Shares underlying traditional warrants stayed constant at 26,596,510 and are excluded from the diluted share count. The filing notes that exercising these warrants requires payment of the exercise price, representing potential future capital but not current dilution. SATA Stock (Variable Rate Series A Perpetual Preferred Stock) outstanding remained unchanged at 7,829,502 shares.
Merger with Semler Scientific and Forward-Looking Insights
The filing references a pending merger with Semler Scientific, Inc., anticipated to deliver strategic and financial benefits to Strive. Forward-looking statements indicate management expects the merger to influence Strive’s future financial results and support integration success. However, the company cautions that these benefits are not guaranteed.
Strive’s bitcoin acquisition activity occurs amid this merger and ongoing Bitcoin treasury strategy execution. The filing highlights risks related to Bitcoin, digital assets, and treasury strategy implementation that could affect merger outcomes. Management also warns the merger might divert attention from operations, impact client relationships, or alter business dynamics.
Risk Factors and Regulatory Disclosures
The disclosure outlines various risks for investors to consider, including legal proceedings involving Strive or subsidiaries, economic and market condition changes, interest and exchange rate volatility, monetary policy adjustments, and regulatory developments. Additional risks stem from potential issuance of more Class A common stock or SATA Stock, which could dilute existing shareholders.
Forward-looking cautionary language stresses that actual results may differ significantly from projections. Investors are directed to Strive’s Annual Report on Form 10-K for fiscal year ended December 31, 2025, and subsequent SEC filings for comprehensive risk details. Strive confirms its status as an emerging growth company under SEC rules and has opted out of the extended transition period for new accounting standards.
Investor Takeaways from the Filing
Investors should monitor Strive’s bitcoin holdings and acquisition pace to gauge management’s execution of its digital asset strategy. The interplay between cash usage and bitcoin purchases will remain important as the company grows its on-chain treasury. Changes in Effective Common Shares Outstanding and diluted share counts will impact per-share metrics and should be reviewed alongside operational results.
The timing and completion of the Semler Scientific merger represent a key strategic event influencing Strive’s trajectory. Management’s consideration of adjustments to the SATA Stock dividend rate is another factor for preferred stock investors to watch. Additionally, fair value changes in STRC Stock holdings may affect consolidated valuations and warrant attention.
Capital Allocation and Treasury Strategy in Action
The disclosed bitcoin acquisition exemplifies Strive’s capital allocation and treasury approach. By investing approximately $5.2 million (79 bitcoin × $65,723 each) during July 20–24, 2026, the company reinforced its commitment to expanding on-chain reserves despite prevailing market conditions. The average acquisition price reflects management’s timing and market assessment during this window.
The filing does not provide forward guidance on future bitcoin purchase frequency, target holdings, or conditions for strategy adjustments. Investors seeking insight into the rationale behind the 20,000 BTC milestone or long-term accumulation plans should follow upcoming disclosures and earnings reports. Bitcoin price trends, cash management, and merger-related capital needs are likely to influence future acquisition updates from Strive.
