Strive CEO Matt Cole said the company could become the world’s second-largest publicly listed corporate holder of Bitcoin by the end of 2026 after adding 3,156 BTC in August alone. He said that outcome is not the firm’s base-case expectation and would depend on several conditions falling into place.
Cole said Strive has more than $700 million in unexercised warrants that expire in mid-October. If the company’s stock rises above the $27 exercise price, warrant conversions could bring in hundreds of millions of dollars that could be used for additional Bitcoin purchases. He added that, combined with roughly $700 million in digital credit capacity, Strive’s potential buying power for BTC could reach about $1.4 billion.
Strive bought 3,156 BTC in August, up sharply from 136 BTC in July. The company now holds 23,156 BTC worth nearly $1.9 billion, making it the fifth-largest public Bitcoin treasury company worldwide. According to the report, it moved ahead of crypto exchange Bullish last week. The current No. 2 holder is Twenty One Capital with 43,514 BTC. Based on the 17 weeks left before year-end, Strive would need to buy about 1,200 BTC per week to overtake it, assuming Twenty One does not add more Bitcoin.
Odaily reported that Strive CEO Matt Cole said the company could become the world’s second-largest publicly listed corporate Bitcoin holder by the end of 2026 after adding 3,156 BTC in August alone, behind only Strategy.
Cole also said that this is not the company’s base-case expectation, and that several conditions would need to line up for that to happen.
Warrants and credit capacity could expand buying power
According to Cole, Strive has more than $700 million in unexercised warrants that are set to expire in mid-October. If the company’s share price rises above the $27 exercise price, those warrant conversions could bring in hundreds of millions of dollars for additional Bitcoin purchases.
He said that, together with roughly $700 million in digital credit capacity, Strive’s potential capital available for BTC purchases could reach about $1.4 billion.
Bitcoin purchases accelerated in August
Strive stepped up the pace of buying in August, purchasing 3,156 BTC during the month, compared with 136 BTC added in July.
The company now holds 23,156 BTC worth nearly $1.9 billion. It has become the world’s fifth-largest public Bitcoin treasury company and moved ahead of crypto exchange Bullish last week.
Gap with the current No. 2 holder remains large
The current second-largest public Bitcoin holder is Twenty One Capital, which holds 43,514 BTC, roughly twice Strive’s total.
Based on the 17 weeks remaining before year-end, if Twenty One does not add any more BTC, Strive would need to buy about 1,200 BTC per week on average to move ahead.
The article said Twenty One has not added to its Bitcoin holdings since July 2025, which makes that target theoretically possible.
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