Strive Spends $61M on Bitcoin Like It’s a Garage Sale

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Key Highlights (Because Who Has Time for Nuance?)

  • Strive dropped $61 million on 789 Bitcoins, because apparently they’ve got a “hodl” problem. Total stash? 14,557 BTC, or roughly $1.3 billion. That’s a lot of avocado toast.
  • They’re now the ninth-largest corporate Bitcoin hoarder, edging out Hut 8. Congratulations? I guess?
  • U.S. Bitcoin ETFs raked in $824 million in a week. BlackRock’s leading the charge, because of course they are.

Strive, a company that seems to have mistaken Bitcoin for a bulk discount at Costco, announced today that they’ve added another 789 Bitcoins to their ever-growing pile. CEO Matt Cole took to X (formerly Twitter, because why not?) to share the news, declaring that they now own 14,557 BTC, worth about $1.3 billion. “We’re basically a digital dragon sitting on a hoard,” he didn’t say, but probably thought.

“Strive has acquired 789 BTC for $61.43 million at an average cost of ~$77,890 per bitcoin. As of 4/24/2026 we hodl 14,557 $BTC,” he wrote, presumably while high-fiving a spreadsheet.

Strive has acquired 789 BTC for $61.43 million at an average cost of ~$77,890 per bitcoin.

As of 4/24/2026 we hodl 14,557 $BTC. $ASST $SATA

– Matt Cole (@ColeMacro) April 27, 2026

This latest splurge cost them $61.43 million, with each Bitcoin averaging $77,890. According to Bitcoin Treasuries, this move catapults Strive into the top tier of corporate Bitcoin holders, surpassing Hut 8 but still trailing Coinbase. Because nothing says “success” like being second-best to a company that’s basically a glorified wallet.

How Strive Funds Its Bitcoin Binge

Strive has been financing its Bitcoin addiction through a financial instrument called the Variable Rate Series A Perpetual Preferred Stock (SATA). It’s like a never-ending game of Monopoly, but with dividends. The stock keeps a strike price between $99 and $100 while paying investors a monthly dividend that fluctuates more than my mood on a Monday.

They raised $160 million in their initial SATA offering and later snagged $225 million in a follow-up. Recently, they tweaked the product, tightening its trading range and bumping the dividend yield to 12.75%. Because why not throw more fuel on the fire?

Strive is also teaming up with Tuttle Capital Management to launch a new ETF. This fund tracks SATA alongside a similar stock linked to Strategy, the largest corporate Bitcoin holder. Because if you can’t beat ’em, join ’em-and then launch a competing product.

And because no financial venture is complete without a side of self-importance, Strive’s media arm, True North, is hosting an event in Lake Oswego, Oregon, on May 21, 2026. The topic? Bitcoin’s role in corporate finance. Spoiler alert: It’s mostly about making rich people richer.

Bitcoin ETFs: Where the Real Money’s At

Strive’s latest purchase comes as institutional interest in Bitcoin continues to surge. According to SosoValue, U.S. spot Bitcoin ETFs saw $824 million in net inflows for the week of April 20-24, marking the fourth straight week of gains. BlackRock’s iShares Bitcoin Trust led the pack with $733 million in inflows, pushing total ETF assets above $102 billion. For April alone, inflows topped $2.6 billion. Because nothing says “financial stability” like pouring money into a volatile digital asset.

At the time of writing, Bitcoin is trading around $77,910, up 3% over the past seven days, with a market cap of over $1.5 trillion. So, you know, just another day in the wild west of cryptocurrency.

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2026-04-27 17:56