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Strive buys 6,182 BTC for $511M in weekly 8-K, closes to Metaplanet and Twenty One at #4

Strive's Oct 26 8-K reports 6,182 BTC bought Oct 17-23 at ~$82,732 avg, taking holdings to 43,000 BTC — now #4 public, trailing Metaplanet and Twenty One by small margins.

by 4 min read
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Vivek Ramaswamy-founded Strive, Inc. disclosed in an 8-K filed with the SEC on Monday, October 26, 2026, the purchase of 6,182 BTC for about $511 million between October 17 and October 23, at an average cost of approximately $82,732 per bitcoin, including fees and expenses. The buy lifts the company's bitcoin holdings from 36,818 BTC on October 17 to 43,000 BTC on October 23 — Strive's largest single-week acquisition on record, per The Block.

Ranking inside the public-company BTC treasury club

The purchase moves Strive within striking distance of the #2 and #3 slots. By total BTC held, as reported in the 8-K and in The Block's accompanying treasury table:

1. Strategy        848,517 BTC
2. Metaplanet       44,000 BTC
3. Twenty One       43,514 BTC
4. Strive           43,000 BTC
5. MARA             35,577 BTC

Strive now trails Metaplanet by 1,000 BTC and Twenty One by 514 BTC. At the recent weekly accumulation cadence (6,182 BTC in week ending Oct 23, 4,045 BTC in week ending Oct 19, 3,311 BTC in week ending Oct 9), the gap could close inside a single additional week if the pace holds. The company does not forecast future buys.

Funding stack in the same filing

The 8-K also establishes a new at-the-market (ATM) offering of up to $1 billion in SATS preferred stock, Strive's bitcoin-linked preferred-share series. Proceeds "may fund more bitcoin purchases." On the balance-sheet side, cash and equivalents rose from $317.5 million on October 17 to $504.4 million on October 23, and 7,000,000 SATS preferred shares now appear as outstanding. Class A common shares outstanding rose by about 3.27 million across the week.

The weekly 8-K pattern

Strive's practice of filing a fresh 8-K every Monday describing the previous week's bitcoin accumulation has become the mechanical source of truth for its treasury. The recent cadence:

The acceleration coincides with lower per-coin average costs than earlier in October, which — combined with the new SATS ATM — tightens Strive's view of how to fund continued accumulation without diluting its common equity to the degree Strategy has.

Why the Metaplanet / Twenty One race matters structurally

The second-through-fifth tier of public-company bitcoin treasuries has been in motion all quarter. Metaplanet, a Japan-domiciled issuer, and Twenty One (owned by Jack Mallers' and Tether's backers) have each run aggressive purchase programs over the past six months. Strive's weekly 8-K filings make it the most transparent of the three, but Metaplanet and Twenty One publish their own holdings tallies on short delays as well. The ranking shift Strive is heading toward would reorder the top four for the first time this year.

What to watch

  1. Nov 2 8-K filing. If Strive adds another 1,000 BTC or more in the week ending Oct 30, the ranking passes Metaplanet. The filing posts to EDGAR under Strive's CIK (1920406).
  2. SATS ATM draw. The $1B ATM capacity gives Strive runway to continue buying without common dilution. Early draws against the ATM will show in prospectus supplements on EDGAR before the next 8-K reflects them.
  3. Average cost trajectory. The $82,732 average on the latest tranche is below Strive's October 13 average of $84,500. A continued descent in the weighted-average cost, paired with accumulation, is the number the sell-side will track against Strategy's $75,440.70 cost basis disclosed on October 5.
  4. Secondary issuance from Metaplanet and Twenty One. Any public purchase announcements from the two trailing issuers would re-shuffle the race from the other direction.

Context

Corporate bitcoin accumulation has run as a steady feature of 2026. Three public issuers — Strategy, Strive and Metaplanet — now cumulatively hold more than 935,000 BTC between them, with Twenty One and MARA bringing the top five to over 1.014 million BTC in aggregate. The absolute float on-chain is finite; concentration into disclosed corporate treasuries is becoming a measurable share of circulating supply. The MSCI reclassification debate referenced in Strategy's week-of-Oct-26 pause filing is one regulator-adjacent lens on how markets will index that concentration going forward.

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