Vivek Ramaswamy’s Strive acquires 317 Bitcoin, moving into top 10 BTC holders

Strive has expanded its Bitcoin position by 317 coins, taking total holdings to about 13,628 $BTC and entering the top 10 corporate holders, said CEO Matt Cole in a statement.

Strive has acquired 317 $BTC for $23 million at an average cost of ~$72,555 per bitcoin.

As of 3/18/2026 we hodl 13,627.9 $BTC.$ASST $SATA pic.twitter.com/oiSJ9FTeeC

— Matt Cole (@ColeMacro) March 19, 2026

The company now ranks ahead of Tesla and CleanSpark in Bitcoin holdings, though it is not the first time it has ranked among the 10 largest holders.

The Bitcoin-focused treasury company, founded by Vivek Ramaswamy, on Thursday reported financial results for the fourth quarter of 2025, detailing how the firm accumulated more than 13,600 Bitcoin in roughly six months since going public.

The company accumulated nearly 5,900 Bitcoin through initial private placement proceeds and a stock exchange transaction, while 5,048 Bitcoin came from its acquisition of Semler Scientific, a firm that had built a Bitcoin reserve. An additional 2,694 Bitcoin were secured through capital markets activity, including preferred stock-linked offerings.

Financial structure and the SATA instrument

Matthew Cole, chairman and CEO, described the results as validation of a corporate finance model.

“Out of the numerous successes Strive had in our first six months as a public company, the most important was cementing our foundation as a structured finance company laser-focused on digital credit,” Cole said. He pointed to the firm’s SATA perpetual preferred stock product as a vehicle designed to deliver double-digit yields with reduced volatility.

SATA is a variable-rate perpetual preferred stock that trades on Nasdaq under its own ticker.

Strive raised approximately $148 million in net proceeds from an initial public offering of SATA shares in November 2025, priced two million shares at $80 each. A follow-on offering in late January brought in another $109 million, with shares priced at $90.

GAAP financials

Strive recorded a net loss of $393.6 million for the period from its public listing through year-end, driven overwhelmingly by non-cash items. Roughly $194.5 million of that deficit came from unrealized losses on Bitcoin as the asset’s price declined from its October peak of approximately $126,000 to around $72,000 by early 2026.

Goodwill and intangible asset impairments related to the Semler acquisition added $140.8 million, and transaction costs contributed $12.4 million.

On an adjusted basis that strips out non-recurring and non-cash charges, the loss attributable to common shareholders narrowed to $208.2 million, or $4.73 per diluted share after accounting for a one-for-twenty reverse stock split executed in early February.

Management emphasized a proprietary metric called “Bitcoin Yield,” which measures the percentage change in Bitcoin per share over a given period. By that measure, Strive achieved a 22.2 percent yield in the fourth quarter and 13.8 percent quarter-to-date through mid-March, translating to what the company calls a “Bitcoin Gain” of 1,305 coins in Q4 2025 and 1,050 so far in 2026.

Strive began as an anti-ESG investment advisory in 2022. Its transformation into a Bitcoin accumulation vehicle reflects a bet that the asset will continue to attract institutional capital and that structured finance tools can generate yield from what was once considered a purely speculative holding.