Strive raises $30.8M to buy more Bitcoin as Strategy pauses

What's the deal? Bitcoin treasury firm Strive Inc. (NASDAQ: ASST) has raised an additional $30.8M through a preferred stock offering to fund further bitcoin purchases. The company's treasury now tops 16,500 BTC, surpassing Coinbase's holdings.

Why now? Strive's latest raise comes as rival StrategyDealroom has a profile for this one. Try Dealroom → (formerly MicroStrategy) has paused its own bitcoin buying. Strategy's pause — following CEO Michael Saylor's "BitVac" comments — has put a spotlight on which corporate treasury players are still accumulating.

Strive appears to be seizing the moment, adding $85M worth of bitcoin to its treasury in recent days alongside this new capital raise.

What could go wrong? Strive's stock, trading under the ticker STRC, has lagged behind expectations despite the aggressive accumulation strategy. Raising capital through preferred stock dilutes existing shareholders, and the approach only works if bitcoin's price continues to rise.

Corporate bitcoin treasuries remain a polarising bet — a sharp BTC downturn could leave these firms with heavy losses and limited flexibility.

The signal: Strive's aggressive bitcoin accumulation strategy, executed while still at the "early growth" stage according to Dealroom, underscores how quickly the corporate treasury playbook has moved from Strategy's pioneering experiment to a crowded field of smaller imitators. The fact that STRC has lagged even as its BTC holdings surpass those of Coinbase suggests investors are growing sceptical that simply warehousing bitcoin on a balance sheet merits a premium valuation — a dynamic that could cool the treasury race if bitcoin's momentum stalls.

Read more: CoinGape