Strive Inc. (ASST) held 23,156 BTC as of August 28, placing it among the five largest publicly traded Bitcoin holders globally. CEO Matt Cole has indicated the company could exceed 27,000 BTC before the end of the year. Strive’s holdings grew from roughly 5,000 BTC in fall 2025 to more than 20,000 BTC by June 2026, including an August purchase of 1,800 BTC for approximately $143 million. The company was created through a reverse merger (a private-company route to public listing) with Asset Entities and the acquisition of Semler Scientific, giving it a public market vehicle focused on accumulating Bitcoin. Instead of using debt or issuing secondary common stock, Strive finances purchases through Variable Rate Series A Perpetual Preferred Stock, traded as SATA. By June 2026, it had increased SATA’s capacity by $4.2 billion, while reporting zero debt and reserves for preferred-stock dividends. TD Cowen lifted its year-end forecast for Strive’s Bitcoin holdings to 27,156 BTC and also raised its stock-price targets. Cole has characterized the market as potentially Bitcoin’s strongest cycle to date, citing structural demand for scarce assets and persistent inflationary pressures. The strategy carries substantial downside risk: a sharp Bitcoin decline could reduce the value of Strive’s holdings while leaving the company responsible for preferred dividends.