Strive Adds 1,050 BTC, Accumulating 13,628 Bitcoin Despite $394M Loss

Strive Accumulates 13,628 BTC While Posting $394M Net Loss

Strive Inc. has cemented its position among the top ten corporate Bitcoin holders, reporting total holdings of 13,628 BTC as of March 17, 2026. The firm's aggressive accumulation continued with the addition of 1,050 BTC in the first quarter of 2026, following a 1,305 BTC increase in the fourth quarter of 2025. This growth occurred in the roughly six months after its September 2025 public listing, pushing it ahead of companies like Tesla in total Bitcoin held.

This rapid expansion came at a cost, as Strive reported a GAAP net loss of $393.6 million for the period ending December 31, 2025. However, the loss was largely driven by non-cash items. Unrealized losses on its Bitcoin holdings accounted for $194.5 million, while impairment of goodwill and intangible assets from its acquisition of Semler Scientific added another $140.8 million to the deficit. The adjusted non-GAAP loss attributable to common shareholders was $208.2 million.

Firm Funds Growth With $257M in Preferred Stock Offerings

Strive is differentiating its strategy from simple passive accumulation by positioning itself as an active digital asset manager. Chairman and CEO Matthew Cole emphasized this focus, framing the company's performance as a validation of its model.

The most important success in our first six months as a public company was cementing our foundation as a structured finance company laser-focused on digital credit.

— Matthew Cole, Chairman and CEO

To fund its strategy, Strive utilized its Variable Rate Series A Perpetual Preferred Stock (SATA). The company raised $148.4 million in net proceeds from an initial offering in November 2025 and another $109.2 million from a follow-on offering in January 2026. These funds were used for Bitcoin acquisitions and to retire a $20 million loan from Coinbase Credit that was assumed during the acquisition of Semler Scientific, a transaction that added 5,048 BTC to Strive's treasury.

'Asset Manager' Model Tested as Market Scrutiny Intensifies

Strive's approach aligns with an emerging 'asset manager' model for Bitcoin treasuries, which seeks to generate active returns rather than rely on passive appreciation and equity issuance. This strategy is becoming critical as the market environment for such companies grows more challenging, with roughly 40% of publicly traded Bitcoin treasuries reportedly trading at a discount to their net asset value. By introducing its own 'Bitcoin Yield' metric—which it reported as 22.2% in Q4 2025—Strive aims to demonstrate it can generate returns through operational skill, not just market sentiment. This focus on structured finance and active management may prove to be a key differentiator as investors scrutinize the long-term viability of corporate Bitcoin strategies.