Strategy and Strive spend $183 million on Bitcoin as price tops $85,000

Bitcoin’s rally to above $85,000 sparked a fresh round of purchases by two of the sector’s biggest treasury holders, Strategy Inc. and Strive Inc., marking a $183 million injection into corporate Bitcoin balances.

Strategy Inc. adds 950 BTC

According to a regulatory filing, Strategy Inc. bought 950 Bitcoin for $75.7 million between September 14 and September 20, at an average price of $79,670. The purchase raised its total holdings to 846,000 BTC, acquired for a cumulative $63.8 billion at an average cost of $75,416.

Strive Inc. expands treasury to 26,355 BTC

Strive Inc. acquired 1,355 Bitcoin for $107.7 million over the same period, at an average price of $79,475. The transaction lifted its treasury to 26,355 BTC and increased cash and equivalents to $229.6 million.

Corporate treasury buying slows, but cost basis improves

Glassnode reports that listed companies added about 5,900 BTC in the past three months, a sharp decline from the roughly 89,000 BTC accumulated in July 2025. The sector’s average acquisition price is estimated at $80,500, meaning the recent price surge moved many corporate treasuries back above their cost basis.

Balance‑sheet impact for Strategy

At the $85,000 level, Strategy’s Bitcoin holdings would be valued at roughly $71.9 billion, about $8.1 billion above the total acquisition cost. The firm also repurchased 1.77 million shares of its variable‑rate preferred stock for $174 million and used $57.4 million for dividends and debt interest, leaving $5.04 billion in reserves.

Financing through preferred equity at Strive

Strive’s recent purchases are funded largely by its SATA preferred stock, which generated $21.2 million in gross proceeds from warrant exercises last week. SATA now represents about 57.7 % of the capital raised for Bitcoin accumulation.

Outlook for corporate buyers

The resurgence in Bitcoin price has re‑energized two aggressive buyers, but matching the volume of corporate demand seen in 2025 would likely require additional companies to re‑enter the market.