Strive (ASST) scooped up 382 Bitcoin between May 13 and 18, spending $30.3 million at an average price of $79,348 per coin, the company disclosed Tuesday. The purchase pushes its total holdings to 15,391 BTC — worth roughly $1.2 billion at current prices — cementing its status as one of the largest corporate bitcoin treasuries.
Buying through the dip
The latest buys fit a pattern: Strive's Bitcoin treasury grew from 12,798 BTC in January 2026 to 15,391 BTC by May, a 2,593-coin increase over four months. The company isn't shy about accumulating even as prices fluctuate. It now holds about 1.5% of the circulating supply. That's a lot of exposure for a firm that also reported a $265.9 million net loss in Q1, mostly from Bitcoin valuation declines.
Losses and yields
That red ink is real, but Strive also highlights something it calls BTC Yield — a metric that measures Bitcoin exposure growth per share. Quarter-to-date yield stood at 6.6%; year-to-date hit 18.4%. The idea: even if the dollar value drops, shareholders' proportional claim on the treasury is rising. Whether that resonates with investors is another question, but the company is leaning into the narrative.
Preferred stock strategy
To fund more buys, Strive has been leaning on preferred stock. Its amplification ratio — a measure of leveraged Bitcoin exposure — climbed from 37.2% in January to 44.3% as of this month, driven by SATA preferred stock issuances. The SATA shares start paying daily cash dividends on June 16, 2026, with an effective yield of 13.88% thanks to daily compounding. That's a rich payout, but it ties the company's financing costs to its own stock performance.
Strive also holds a $49.8 million position in Strategy Inc.'s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), alongside $87.3 million in cash and equivalents. The cash cushion gives it some breathing room, though the preferred dividend obligations are real.
Bitcoin as the benchmark
For Strive, Bitcoin isn't just an asset — it's the yardstick. The firm uses BTC as its 'hurdle rate' for all capital deployment decisions, effectively telling investors it won't deploy cash unless it expects to beat Bitcoin's return. That's a bold benchmark, especially after a quarter where Bitcoin's price decline drove a nine-figure loss.
Next up: the SATA dividend kickoff on June 16. That's when the market will see whether Strive's preferred stock strategy can sustain the buying spree — and whether shareholders are willing to bankroll the next 2,593 BTC.
