Strive adds 29 bitcoin, sits 847 BTC behind Metaplanet in treasury race

A small buy after a big month

The 29-coin addition is tiny next to what came before it. Strive reported holding 43,124 BTC as of October 30, according to Crypto Briefing, after picking up 124 BTC between October 24 and October 30 for around $10 million (an average of roughly $80,526 per coin).

October was the heavy month. The company accumulated more than 15,000 BTC during it, per the outlet's tally. One buy covered 2,000 BTC for about $169 million, another brought in 3,311 BTC for roughly $280 million, and the biggest added 6,182 BTC for approximately $511 million.

Crypto Briefing said Strive's SEC filings point to ongoing accumulation.

The race for No. 2

Strive wants to become the world's second-largest publicly traded bitcoin holder by the end of the year, according to Crypto Briefing's reporting. Metaplanet holds 44,000 BTC, the outlet said. Working from those reported figures, the gap is 847 BTC.

That's a fraction of what Strive bought in October alone.

Strategy is in a different league entirely (it holds approximately 849,000 BTC, per the same report). Crypto Briefing also noted that Strive's standing against peers like Twenty One Capital and MARA could shift depending on how aggressively each firm keeps buying.

Funding without debt

So how is Strive paying for all of this? The company, co-founded by Vivek Ramaswamy, leans mainly on preferred stock issuances and warrant exercises, the outlet reported. It doesn't borrow. Instead, it sells equity-linked securities and converts the proceeds into bitcoin.

Crypto Briefing pointed out the trade-off. The no-debt approach removes the risk of a lender demanding repayment during a bitcoin drawdown, but preferred stock carries its own obligations to holders (and those don't disappear when the market turns).