Strive Acquires $162M Bitcoin, Surpassing Galaxy

Strive, led by CEO Matt Cole, acquired $162 million worth of Bitcoin through a perpetual preferred equity offering. This move positions Strive ahead of Galaxy Digital in Bitcoin holdings, reflecting a shift in corporate Bitcoin treasury financing.

The key figures involved include Vivek Ramaswamy, co-founder, and Matt Cole, CEO. Strive purchased 1,567 Bitcoin, emphasizing a new strategic approach to treasury management. The acquisition was funded by a $149.3 million IPO, an approach similar to MicroStrategy’s capital-raising strategies.

The acquisition impacts institutional adoption dynamics, highlighting the increasing interest in digital assets among traditional financial sectors. The purchase was completed between October 28 and November 9, 2025, pushing Strive’s total holdings to 7,525 BTC.

Strive utilized a perpetual preferred equity structure, similar to MicroStrategy’s capital-raising strategies. This model raises funding without diluting existing equity, offering yield-oriented investors tax benefits and emphasizing Bitcoin’s role as a financial hurdle.

The competitive landscape shifts as Strive’s acquisition surpasses Galaxy Digital, elevating crypto’s legitimacy in corporate finance structures. Such acquisitions often positively influence market sentiment toward Bitcoin, potentially affecting its valuation and perceived credibility.

Future implications may include potential shifts in corporate investment strategies and regulatory evaluations. Historical trends suggest that significant acquisitions by public companies can lead to increased scrutiny and compliance examinations from financial authorities. Strive CEO Matt Cole commented on this development, stating, “demonstrates the speed and precision of our team in driving long-term value, with Bitcoin as our hurdle rate.”