Strategy and Strive Buy $183M of Bitcoin After Rally

Strategy Inc. and Strive Inc. purchased roughly $183 million of Bitcoin last week as the token rose above $85,000, according to regulatory filings. Strategy added 950 BTC between Sept. 14 and Sept. 20 at an average price of $79,670. Strive bought 1,355 BTC between Sept. 14 and Sept. 18 at an average price of $79,475.

The Strategy purchases totaled about $75.7 million and returned its holdings to 846,000 BTC. The aggregate acquisition cost for those coins is about $63.8 billion, or roughly $75,416 per coin. Strive’s purchases cost about $107.7 million and raised its treasury to 26,355 BTC. Strive’s cash and equivalents increased to $229.6 million over the same period.

Both companies executed buys below the market price at the time of their filings. Bitcoin traded above $85,000 on Monday, its highest level since January, after rising more than 30% from August lows.

On-chain analytics firm Glassnode estimates the sector’s average corporate acquisition price at about $80,500. Glassnode data show listed companies added roughly 5,900 BTC over the past three months, compared with about 89,000 BTC accumulated in July 2025.

Strategy reported large unrealized losses when Bitcoin traded near $58,714 at the end of the second quarter. At $85,000 per coin, Strategy’s 846,000 BTC would be worth about $71.9 billion, about $8.1 billion above the aggregate acquisition cost for those holdings and more than $22 billion above their value at the June 30 closing price. The company has continued to buy and sell Bitcoin during the quarter and records fair-value changes as they occur.

Strategy also repurchased 1.77 million shares of its variable-rate STRC preferred stock for $174 million last week and used $57.4 million from its dollar reserve for preferred dividends and debt interest. The filing showed $5.04 billion remained in its dollar reserve and $1.05 billion in separately designated cash as of Sept. 20. In July, Chief Executive Phong Le wrote that ‘repurchasing the security below par can reduce future dividend obligations while supporting what the company considers a sustainable market for the preferred shares.’ Since July, Strategy has spent about $1.1 billion on STRC buybacks.

Strive has funded purchases in part through preferred equity and warrant exercises. The company reported about $21.2 million in gross proceeds from warrant exercises last week and said its SATA preferred stock accounted for roughly 57.7% of the capital it raised for Bitcoin purchases. The filing showed SATA shares outstanding increased by 786,194 to 11.18 million while Strive’s Class A share count rose by about 2.07 million.

The filings and on-chain data indicate corporate treasury buying has slowed in recent months and become more concentrated among a smaller group of active buyers. Strategy and Strive resumed accumulation as prices recovered, while broader sector inflows remain well below the levels seen in mid-2025.