Strive CEO Says Firm Could Become No. 2 Public Company Bitcoin Holder by Year-End With $1.4 Billion More Buying Capacity
Summary
- CEO Matt Cole said Strive could rise to No. 2 in Bitcoin holdings among publicly traded companies by the end of this year.
- He said that if about $700 million in stock warrants and $700 million in digital credit are both secured, the company would have a total of $1.4 billion in buying capacity.
- Strive currently holds 23,156 BTC (about $1.9 billion) and said it could continue a strategy of buying an average of 1,000 to 1,200 BTC per week through year-end.
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Strive, a Bitcoin treasury company, could climb to become the world's second-largest Bitcoin holder among publicly traded companies by the end of this year, according to Chief Executive Officer Matt Cole. He said the company could also gain as much as $1.4 billion in additional capacity for Bitcoin purchases if its stock warrants are exercised.
Cole made the remarks on the One Share podcast, The Block reported on September 3. He said it was "not an impossible scenario" for Strive to end the year as the No. 2 Bitcoin holder, though he stopped short of calling that his base case and said several conditions would need to be met.
At the center of that scenario are about $700 million of Strive stock warrants set to expire in mid-October. If the shares trade above the $27 exercise price and the warrants are exercised, the proceeds could be used to buy more Bitcoin, Cole said. Adding another $700 million tied to digital credit would bring total buying capacity to $1.4 billion.
"I hope the warrants are exercised rather than expire worthless," Cole said. "If that happens, we could finish this year's Bitcoin accumulation strategy very strongly."
Strive has accelerated its Bitcoin purchases in recent months. After buying 136 Bitcoin in July, it added 3,156 Bitcoin in August. The company now holds 23,156 Bitcoin, valued at about $1.9 billion.
Buying an average of 1,000 Bitcoin a week would already be significant, Cole said, adding that Strive could move up the rankings quickly if it maintains its current pace.
Strive is currently the fifth-largest public company holder of Bitcoin and recently surpassed crypto exchange Bullish. Second-ranked Twenty One Capital holds 43,514 Bitcoin.
Assuming Twenty One Capital makes no additional purchases, Strive would need to acquire about 1,200 Bitcoin a week over the remaining 17 weeks to rise to No. 2 by year-end. Twenty One Capital has not bought additional Bitcoin since July 2025, according to the report.
Cole also said Bitcoin could exceed $500,000 by 2030. He added, however, that Strive's treasury strategy was not built around that long-term price outlook.
Strive shares, which trade under the ticker ASST, rose as high as $26.84 intraday on September 3, the highest level this year, nearing the $27 warrant exercise price. Bitcoin Treasuries data showed the stock's return this year has outpaced the average for the top 10 public Bitcoin treasury companies by 82%.
