Strategy and Strive Add Nearly 2,800 Bitcoin Combined in a Second Straight Week of Buying
Two of the biggest names in corporate Bitcoin buying went back to the market in the same week, and neither used debt to do it.
Michael Saylor's Strategy disclosed on September 28 that it bought 1,665 Bitcoin for $142.7 million, an average of $85,681 per coin, between September 21 and 27. That brings the company's total holdings to 847,666 BTC, worth roughly $70.6 billion at current prices and equal to more than 4% of Bitcoin's entire 21 million coin supply cap. Strive, the Nasdaq-listed treasury company run by CEO Matt Cole, added 1,107 Bitcoin of its own over a similar window, paying $94.5 million at an average of $85,396 per coin. Strive's stack now stands at 27,462 BTC.
BOTH COMPANIES ARE BUYING FOR A SECOND STRAIGHT WEEK
Neither purchase happened in isolation. Strategy's buy followed a 950 BTC purchase the week before, its first acquisition in roughly three weeks and a sign the company was easing back into regular buying after a quiet stretch. Strive's 1,107 BTC add came a week after it picked up 1,355 BTC, continuing a near-weekly buying cadence that has defined its 2026.
EQUITY, NOT DEBT, IS PAYING FOR IT
Strategy funded its purchase by selling 1.47 million MSTR shares through its at-the-market program for $246.2 million in net proceeds, splitting the money between the Bitcoin buy and a $151.7 million repurchase of its STRC preferred shares. Strive leaned on its SATA preferred stock for 85% of its funding, including $12.4 million raised through warrant exercises. Both companies are running the same basic playbook: issue equity or preferred shares, convert the proceeds into Bitcoin, and skip the loans that could force a sale during a downturn.
THE RACE FOR FOURTH PLACE
Strive now ranks fifth among public Bitcoin treasuries, behind Strategy, Twenty One Capital, Metaplanet and MARA Holdings. Closing the roughly 16,000 BTC gap to fourth-place Twenty One Capital by year-end would take about 1,235 BTC a week for the rest of 2026, a pace Strive has hit before but hasn't sustained every week. Cole has said the company could reach second place by year-end, though he has called that an upside case rather than his base expectation.
This story comes from the Simply Bitcoin Live show. Watch the full episode.
