Strive reported buying 3,311 bitcoin between October 5 and October 9, 2026. Its October 13 Form 8-K says the average purchase price was approximately $84,500 per bitcoin, including fees and expenses. The same filing puts total holdings at 32,773 bitcoin on October 9, up from 29,462 a week earlier.
Those figures describe the size of the treasury. They do not, on their own, show how much bitcoin exposure sits behind each share. Strive’s filing also reports a changing capital structure, so the holdings and share tables need to be read together.
Holdings rose faster than the effective share count
Bitcoin holdings increased by about 11.2% over the reported week. Effective common shares outstanding—the company’s Class A and Class B shares combined—rose from 100,938,986 to 110,387,204, an increase of about 9.4%.
Using those two disclosed figures, bitcoin per one million effective common shares moved from roughly 291.9 to 296.9. That is an increase of about 1.7%, far smaller than the headline growth in total bitcoin. On the company’s assumed fully diluted measure, the same calculation rises from about 284.1 to 289.7 bitcoin per one million shares, or about 2.0%.
These are derived ratios, not metrics presented by Strive. They are useful because they stop two different questions from being collapsed into one. Total holdings measure the company’s treasury. Holdings per share estimate how that treasury changed relative to a shareholder base that also moved.
The filing does not identify one simple funding source
Class A shares outstanding increased by 9,461,103 during the week, while Class B shares declined by 12,885. Strive also reported 532,094 more shares of its variable-rate Series A preferred stock, known as SATA. At the same time, cash and cash equivalents rose from $284.7 million to $310.3 million.
The filing presents these changes in the same update, but it does not say that any one of them alone financed the bitcoin purchase. A simultaneous increase in shares is not proof of a direct funding chain. Readers would need separate offering, financing or cash-flow disclosures before making that claim.
What the table can and cannot answer
The 8-K provides a dated snapshot, not a full valuation model. It does not establish future buying plans, custody arrangements, unrealized gains, or the effect of later market moves. It also notes that the share figures include shares sold by 4 p.m. Eastern that were due to be issued on the next business day.
For future updates, the most useful comparison is consistent: check total bitcoin, effective and fully diluted shares, cash, preferred shares and any disclosed financing terms. A larger treasury can be meaningful while still producing a much smaller change on a per-share basis.
Source: BTC-Pulse.