Key Takeaways
- • Strive holds 43,134 BTC and is the fourth-largest public Bitcoin treasury company, positioned to challenge Metaplanet and Twenty One Capital for second place.
- • Strive reported $509 million in GAAP net income for Q3 2026 while bought about 8,136 BTC during the quarter.
- • The company purchased roughly 15,124 BTC between October 1 and October 30, 2026, and held about $490.4 million in cash as of October 30.
- • CEO Matt Cole's cryptic "The hurdle rate is orange" post on X signals further Bitcoin purchases, a message CoinCodex compared to Michael Saylor's pre-purchase posts.
- • Overtaking Metaplanet (around 44,000 BTC) and Twenty One Capital (about 43,514 BTC) would still leave Strive well behind Strategy, the largest holder.
Summary
Strive, the fourth-largest public Bitcoin treasury company, is preparing another round of BTC purchases, according to CoinCodex, which reports that CEO Matt Cole hinted at further accumulation in an X post saying "The hurdle rate is orange." CoinCodex notes the phrasing resembles the short, indirect posts often shared by Strategy chairman Michael Saylor before the firm makes Bitcoin purchases.
The signal follows Strive's Q3 2026 earnings release. The company reported $509 million in GAAP net income for the quarter and bought about 8,136 BTC during Q3. It accumulated about 20,373 BTC in the first nine months of 2026, and purchased roughly 15,124 BTC between October 1 and October 30 alone.
As of October 30, Strive held a total of 43,134 BTC, along with about $490.4 million in cash and $50.1 million in Strategy's STRC preferred shares. The company also raised around $609 million through its SATS preferred share offering, per the report.
CoinCodex argues that continued accumulation could allow Strive to overtake Metaplanet, which holds around 44,000 BTC, and Twenty One Capital, with about 43,514 BTC, to become the second-largest public Bitcoin treasury holder. The report characterizes the task of overtaking Strategy for the top position as considerably more difficult.
The signal follows Strive's Q3 2026 earnings release. The company reported $509 million in GAAP net income for the quarter and bought about 8,136 BTC during Q3. It accumulated about 20,373 BTC in the first nine months of 2026, and purchased roughly 15,124 BTC between October 1 and October 30 alone.
As of October 30, Strive held a total of 43,134 BTC, along with about $490.4 million in cash and $50.1 million in Strategy's STRC preferred shares. The company also raised around $609 million through its SATS preferred share offering, per the report.
CoinCodex argues that continued accumulation could allow Strive to overtake Metaplanet, which holds around 44,000 BTC, and Twenty One Capital, with about 43,514 BTC, to become the second-largest public Bitcoin treasury holder. The report characterizes the task of overtaking Strategy for the top position as considerably more difficult.
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