Strive Warrants Exercised For $369.2M As It Buys 4,045 BTC

Strive bought 4,045 BTC in the same week that holders exercised warrants worth about $369.2 million. The Strive warrants exercised on October 12 and 13 sit alongside the purchases in an 8-K the company filed on October 19. The filing also gives a new total of 36,818 BTC.

Strive's two purchase windows

The filing splits the buying in two. Strive bought 2,822 BTC on October 12 and 13, as it announced on October 14. That earlier filing covered only the first two days of the week's buying. A further 1,223 BTC followed from October 14 through 16 at an average of about $81,734.

Across the whole week the average price came to about $82,803 per coin, including fees and expenses. Multiplying the two figures gives roughly $335 million for the week, by our arithmetic. Holdings rose from 32,773 BTC on October 9 to 36,818 BTC on October 16.

The warrant exercise in the same week

Separately, a legacy warrant class was cashed in. During October 12 and 13, 273,493,909 traditional warrants were exercised for 13,674,703 shares of Class A stock, for gross proceeds of about $369.2 million. Twenty warrants bought one share, so the price works out to $27.00 a share, by our arithmetic.

Opening of the filing's Item 8.01. Source: Strive's Form 8-K dated October 19.

The warrants came to Strive through its September 2025 merger with Asset Entities. Whatever was left expired unexercised on October 13, and the 8-K says none remain outstanding.

A week earlier the table listed 15,255,900 shares underlying those warrants. This week it lists none. Of that earlier figure, 13,674,703 shares became real stock and about 1.58 million lapsed, by our arithmetic.

Footnotes on the warrants and the SATS offering. Source: Strive's Form 8-K.

What Strive's share count shows

Class A shares outstanding grew by about 13.7 million over the week, to 114,847,610. Nearly all of that lines up with the Strive warrants exercised that week. The exercises added 13,674,703 shares, and the other 3,000 came from somewhere else, by our arithmetic. Class B shares barely changed. Effective common shares ended at 124,064,126.

Cash ended the week a little higher, at $317.5 million after $310.3 million a week earlier. Strive still holds 505,000 shares of Strategy's STRC preferred, valued at about $49.3 million. That is roughly $1 million lower than a week earlier. The filing also shows 14,030,176 shares of its own SATA preferred outstanding, unchanged over the week.

The preferred offering still to settle

The same filing repeats news from October 15. Strive priced 7,000,000 shares of its 15.00% Series A Perpetual SATS Preferred Stock at $90.00 each. That is a $700 million stated amount and expected proceeds near $630 million before fees. Settlement is set for October 20, and none of that money had arrived by the filing's dates.

Our earlier reports cover the SATS preferred plan and an earlier 2,000 BTC purchase. This article summarizes a regulatory filing and gives no advice on Strive's securities or on bitcoin.