Strive increased its bitcoin holdings to 13,627.9 BTC after a 317 BTC purchase. The move places the firm among the top 10 public bitcoin treasury holders while exposing its balance sheet to price volatility.
The Strive, founded by Vivek Ramaswamy, disclosed the accumulation alongside its fourth-quarter results. The company surpassed CleanSpark in treasury rankings, according to Bitcoin Treasuries data, with holdings valued at approximately $944.3 million.
Strive, Inc.Can Bitcoin Treasury Strategies Offset Earnings Volatility?
Strive has built its position through multiple funding channels, including 5,886 BTC from PIPE proceeds and 5,048 BTC tied to its acquisition of Semler Scientific. Additional accumulation came from public market activity, supported by structured instruments such as its Variable Rate Series A Perpetual Preferred Stock, or SATA.
The firm raised $148.4 million in November and $109.2 million in January through SATA offerings, deploying capital to reduce acquisition-related debt and expand bitcoin exposure. It also invested $50 million into bitcoin-linked preferred equity issued by Strategy, extending its yield-focused positioning within crypto markets.
“We're focused on building a track record of success for SATA by maintaining a stable trading range and keeping a strong balance sheet,” said Matthew Cole.
He added that the approach aims to generate returns above the company’s internal bitcoin hurdle rate despite market fluctuations.
Still, financial results reflect the downside of treasury concentration. Strive reported a $393.6 million GAAP net loss for the quarter, with $194.5 million attributed to declines in bitcoin’s fair value. Investors will watch whether sustained accumulation and capital markets activity can stabilize earnings as bitcoin price volatility continues to drive balance sheet performance.
