Strive’s corporate Bitcoin treasury has climbed to 13,628 BTC, putting it ahead of Tesla’s long-standing 11,509 BTC balance. Since going public in September 2025, the company has added to its holdings through PIPE proceeds and the acquisition of Semler Scientific. Its latest purchase contributed nearly 317 BTC to the total.
Post-listing accumulation pushed holdings past Tesla
The report describes Strive as taking an active approach to treasury management rather than leaving Bitcoin on the balance sheet as a passive reserve asset. That sets it apart from Tesla, whose Bitcoin position has remained largely unchanged. The contrast is not only about the number of coins held. It also reflects how each company uses financing tools around its digital asset strategy.
Strive has relied on structured finance mechanisms and at-the-market share sales to scale its Bitcoin exposure. As part of that effort, the company placed $50 million into Strategy’s STRC preferred stock to support its SATA dividend program. The instrument is presented as a way to generate cash flow while preserving direct sensitivity to Bitcoin price moves.
Bitcoin gains came with a large accounting loss
In the fourth quarter of 2025, Strive reported a 22.2% gain on its Bitcoin holdings. In the same period, it posted a $393.6 million net accounting loss tied to lower fair market values. Even with that result, the company said its main performance metric is growth in BTC per share, showing that management is tracking how much Bitcoin backs each share rather than focusing only on short-term reported earnings.
CEO Matthew Cole said the company’s new financial structure would keep Bitcoin accumulation moving under his leadership. He also said expanding digital lending could open up significant opportunities in the sector. The source did not provide a detailed size estimate for that business line, but it places lending alongside treasury growth in Strive’s broader plan.
Cash and shelf capacity support more purchases
Current figures cited in the article show more than $83 million in cash on Strive’s balance sheet, along with available shelf registrations that could total $500 million. Those resources are expected to support continued Bitcoin purchases. The report also notes that Strive’s model combines Bitcoin price exposure with an added 12.75% SATA dividend for shareholders, a structure framed as different from traditional spot ETFs.
As more public companies expand their Bitcoin treasury activity, Strive’s move past Tesla points to a shift in how corporate crypto reserves are being managed. Based on the report, the company has finished key infrastructure and portfolio buildout work and now holds a stronger position among publicly traded firms accumulating Bitcoin.