Strive CEO: The company may become the world's second-largest publicly listed Bitcoin holder by the end of the year

Strive CEO Matt Cole stated that after increasing its holdings by 3,156 BTC in August, the company could potentially become the world's second-largest publicly traded Bitcoin holder by the end of 2026, second only to Strategy. However, he emphasized that this is not its baseline expectation and requires multiple factors to align.

Cole pointed out that Strive currently has over $700 million in unexercised warrants, which will expire in mid-October. If the company's stock price exceeds the $27 exercise price, the conversion of the warrants could bring Strive hundreds of millions of dollars in funding for further Bitcoin purchases. He mentioned that if combined with approximately $700 million in digital credit capacity, the potential funds available for buying BTC could reach $1.4 billion.

Strive significantly accelerated its buying pace in August, purchasing 3,156 BTC in a single month, compared to only 136 BTC in July. The company currently holds a total of 23,156 BTC, valued at nearly $1.9 billion, and has become the fifth-largest publicly traded Bitcoin treasury company in the world, surpassing the crypto exchange Bullish last week. The current second-largest publicly traded Bitcoin holder is Twenty One Capital, which holds 43,514 BTC, about twice that of Strive. With 17 weeks remaining until the end of the year, if Twenty One does not increase its holdings, Strive would need to purchase approximately 1,200 BTC per week on average to surpass it. The article noted that Twenty One has not added any BTC since July 2025, so this goal is theoretically possible.