Strive CEO Says Firm Could Become No. 2 Public Bitcoin Holder by Year-End With $1.4 Billion in Buying Capacity

Strive, a corporate Bitcoin treasury company, could become the world's second-largest public company by Bitcoin holdings by the end of this year, according to Chief Executive Officer Matt Cole. He said the company could also gain as much as $1.4 billion in additional capacity to buy Bitcoin if its stock warrants are exercised.

Cole made the remarks on the One Share podcast, The Block reported on September 3. He said it was "not an impossible scenario" for Strive to end the year as the No. 2 corporate Bitcoin holder, while stressing that it was not his base-case outlook and would depend on several conditions being met.

The main variable is roughly $700 million of Strive stock warrants set to expire in mid-October. Cole said the company could use the proceeds to buy more Bitcoin if the shares trade above the $27 exercise price and the warrants are exercised. Adding another $700 million tied to digital credit would bring Strive's total potential buying capacity to $1.4 billion, he said.

"I hope the warrants are exercised rather than expiring worthless," Cole said. "If that happens, we could finish this year's Bitcoin accumulation strategy very strongly."

Strive has recently stepped up its Bitcoin purchases. It bought 136 BTC in July and another 3,156 BTC in August. Its holdings now total 23,156 BTC, valued at about $1.9 billion.

Buying an average of 1,000 BTC a week would already be substantial, Cole said, adding that Strive could climb the rankings quickly if it maintains its current pace.

Strive is now the fifth-largest public company by Bitcoin holdings and recently overtook crypto exchange Bullish. The second-ranked company, Twenty One Capital, holds 43,514 BTC.

Assuming Twenty One Capital does not make additional purchases, Strive would need to acquire about 1,200 BTC a week over the remaining 17 weeks to reach No. 2 by year-end. Twenty One Capital has not bought additional Bitcoin since July 2025, according to the report.

Cole also said Bitcoin could rise above $500,000 by 2030. He added, however, that Strive's treasury strategy was not built around that long-term price outlook.

Strive shares, which trade under the ticker ASST, rose as high as $26.84 intraday on September 3, their highest level this year and near the $27 warrant exercise price. According to Bitcoin Treasuries, ASST has returned 82% more this year than the average for the top 10 public Bitcoin treasury companies.