$ASST Strive
Strive is a Bitcoin treasury company focused on increasing Bitcoin per share through capital raising and acquisitions. ASST is its publicly traded Class A common stock.
Loading…
CEBE loads with market data; — means no value is available yet. Calculation & sources ↓
Strive methodology · live BTC spot against the latest disclosed SATA and SATS notional.
Live valuation inputs are recomputed by BTCperShare.
GROSS & NET BITCOIN EXPOSURE
ASST · CEBE
Net Bitcoin-equivalent backing after debt and preferred claims, offset by cash.
Effective common shares (Class A + B) · Snapshot 2026-10-30
Debt dated 2026-09-30; holdings, shares, preferred stock and cash dated 2026-10-30.
Preferred claims use stated/notional amounts. Actual liquidation preferences may be higher.
- Net claims / BTC value
- —
- Net sats / $100 of stock
- —
- Net mNAV
- —
- Direct BTC sats / $100
- —
Loading market quotes…
Calculation, dates & sources
- BTC held
- 43,124
- Common shares
- 127,331,109
- Debt principal
- $0
- Preferred claims
- $2,103,359,400
- Cash offset
- $490,400,000
- Net claims
- $1,612,959,400
Net sats/share = [BTC − net claims ÷ BTC price] ÷ common shares × 100,000,000. Net claims = debt + preferred − cash.
Net sats/$100 = net sats/share × 100 ÷ stock price. Net mNAV = stock price ÷ net backing per share in dollars. Direct BTC assumes no fees.
Cash includes cash and cash equivalents. STRC investment holdings are excluded; this differs from Strive's NTAV, which includes them.
Debt input: $0 from the preliminary 2026-09-30 balance sheet, carried to 2026-10-30. SATA and issued SATS use $100 stated notional per share; adjusted liquidation preference and accrued dividends are excluded.
- Strive holdings and shares ↗ · 2026-10-30
BTC, Class A + B shares, cash and preferred shares. Total preferred claim = (SATA + issued SATS shares) × $100 stated amount; excludes future dividends. - Strive preliminary debt balance ↗ · 2026-09-30
Zero debt principal at September 30; preliminary unaudited estimate, not reviewed or audited. The October 5 filing states an intention to remain debt-free; later weekly holdings tables do not restate debt.
Uses unconverted claims and basic/effective common shares. Options and potential conversion shares are excluded. Debt and preferred amounts are modeled notionals, not a comprehensive liquidation waterfall. Other liabilities, accrued or future dividends, operating costs and taxes are excluded.
CEBE means Common Equity Bitcoin Exposure. Framework credited to Bobby Tierney / CEBE Tracker. BTCperShare calculates independently; asset offsets, preferred claim bases and reporting dates may differ. This notional model retains signed net claims; CEBE Tracker floors net senior claims at zero.
Strive adds 124 BTC and lifts Bitcoin per share 0.29%
Strive bought 124 BTC at an average of $80,526, including fees, during October 24–30. It ended the week with 43,124 BTC. At the reported average price, the purchase cost about $9.98 million.
Each effective common share now represents 33,868 sats, up from 33,771 on October 23. Fully diluted backing rose from 33,066 to 33,161 sats. Both measures gained 0.29% for the week.
Strive reported 118,117,620 Class A and 9,213,489 Class B shares, or 127,331,109 effective common shares. The 2,763-share increase was offset by an equal decline in outstanding options. Including 781,329 options and 1,932,252 unvested awards, the fully diluted count held at 130,044,690.
Cash fell $14 million to $490.4 million. Strive also held 505,000 STRC shares valued at $50.061 million.
First sales through the SATS ATM
SATS shares outstanding rose by 3,418 to 7,003,418. CEO Matt Cole said existing cash funded most of the Bitcoin purchase and SATS accounted for all ATM proceeds. Strive did not disclose a sale price or dollar proceeds in the 8-K.
SATA stayed at 14,030,176 shares. At $100 stated amount per preferred share, the two series carry $2.103 billion in claims ahead of ASST. The new SATS add $51,270 in annual dividends, bringing the combined annualized obligation to $287.44 million at current rates.
Cole reported a 62.7% amplification ratio for the update. The live estimate above uses the latest Bitcoin price and the two preferred series at stated amount. The model carries forward the September 30 debt balance.
Matt Cole’s funding update · SATS ATM terms · September 30 debt disclosure
SATA repurchase authorization
Strive announced a $500M SATA repurchase facility on 26-10-05. The filing does not report completed repurchases under the facility.
While Bitcoin remains below $100,000, management aims to raise and maintain its amplification ratio above 60% and intends to remain debt-free. This is a capital-allocation objective, not the current amplification ratio.
October 5 SEC filingAs of Oct 30, 2026
The latest change compares October 23–30. The October 16 bar compares October 9–16, spanning the intervening October 13 estimate.
Recent prints
| As of | Effective sats | Δ |
|---|---|---|
| 26-05-22 | 21,777 | ACCRETIVE+4.05% |
| 26-06-01 | 24,091 | ACCRETIVE+10.63% |
| 26-06-05 | 24,033 | DILUTIVE-0.24% |
| 26-06-12 | 23,979 | DILUTIVE-0.22% |
| 26-06-18 | 24,353 | ACCRETIVE+1.56% |
| 26-06-26 | 24,330 | DILUTIVE-0.09% |
| 26-07-02 | 24,034 | DILUTIVE-1.22% |
| 26-07-10 | 23,910 | DILUTIVE-0.52% |
| 26-07-17 | 23,809 | DILUTIVE-0.42% |
| 26-07-24 | 23,781 | DILUTIVE-0.12% |
| 26-07-31 | 23,774 | —-0.03% |
| 26-08-07 | 23,604 | DILUTIVE-0.72% |
| 26-08-14 | 23,532 | DILUTIVE-0.31% |
| 26-08-21 | 23,813 | ACCRETIVE+1.19% |
| 26-08-28 | 24,829 | ACCRETIVE+4.27% |
| 26-09-04 | 25,840 | ACCRETIVE+4.07% |
| 26-09-11 | 26,324 | ACCRETIVE+1.88% |
| 26-09-18 | 27,169 | ACCRETIVE+3.21% |
| 26-09-25 | 28,122 | ACCRETIVE+3.51% |
| 26-10-02 | 29,188 | ACCRETIVE+3.79% |
| 26-10-09 | 29,689 | ACCRETIVE+1.72% |
| 26-10-13 est. | 28,691 | DILUTIVE-3.36% |
| 26-10-16 | 29,677 | —-0.04% |
| 26-10-23 | 33,771 | ACCRETIVE+13.80% |
| 26-10-30 | 33,868 | ACCRETIVE+0.29% |
September 30 preliminary results: 28,000 BTC, 27,801 sats per assumed diluted share, 18.5% Q3 BTC yield and 63.2% YTD. These estimates have not been reviewed or audited and may change. Current holdings and calculators use the separate 26-10-30 snapshot.
Swipe to see all columns →
| As of | BTC | AFDS sats | Amp | QTD yield |
|---|---|---|---|---|
| 25-09-30 | 5,886 | 13,946 | 0.0% | — |
| 25-12-31 | 7,627 | 17,037 | 30.1% | +22.2% |
| 26-03-31 | 13,628 | 18,931 | 47.1% | +11.1% |
| 26-06-30 | 19,864 | 23,465 | 67.2% | +24.0% |
| 26-09-30 | 28,000 | 27,801 | 55.3% | +18.5% |
Weekly holdings
Effective is the BTC/share denominator. October 13 shares and per-share values are estimated; unreported SATA is shown as unavailable.
Swipe to see all columns →
| As of | BTC | Effective sats | AFDS sats | SATA | SATS |
|---|---|---|---|---|---|
| 26-05-22 | 16,500 | 21,777 | — | 5,759,719 | 0 |
| 26-06-01 | 19,000 | 24,091 | — | 7,513,907 | 0 |
| 26-06-05 | 19,032 | 24,033 | — | 7,513,907 | 0 |
| 26-06-12 | 19,105 | 23,979 | — | 7,513,907 | 0 |
| 26-06-18 | 19,864 | 24,353 | — | 7,829,502 | 0 |
| 26-06-26 | 19,864 | 24,330 | — | 7,829,502 | 0 |
| 26-07-02 | 19,882 | 24,034 | — | 7,829,502 | 0 |
| 26-07-10 | 19,900 | 23,910 | — | 7,829,502 | 0 |
| 26-07-17 | 19,921 | 23,809 | — | 7,829,502 | 0 |
| 26-07-24 | 20,000 | 23,781 | 23,069 | 7,829,502 | 0 |
| 26-07-31 | 20,020 | 23,774 | 23,063 | 7,829,502 | 0 |
| 26-08-07 | 20,167 | 23,604 | 22,735 | 7,829,502 | 0 |
| 26-08-14 | 20,246 | 23,532 | 22,671 | 7,829,502 | 0 |
| 26-08-21 | 21,356 | 23,813 | 22,976 | 8,270,815 | 0 |
| 26-08-28 | 23,156 | 24,829 | 23,990 | 9,073,914 | 0 |
| 26-09-04 | 24,531 | 25,840 | 24,994 | 9,995,425 | 0 |
| 26-09-11 | 25,000 | 26,324 | 25,474 | 10,397,966 | 0 |
| 26-09-18 | 26,355 | 27,169 | 26,317 | 11,184,160 | 0 |
| 26-09-25 | 27,462 | 28,122 | 27,250 | 12,193,180 | 0 |
| 26-10-02 | 29,462 | 29,188 | 28,407 | 13,498,082 | 0 |
| 26-10-09 | 32,773 | 29,689 | 28,973 | 14,030,176 | 0 |
| 26-10-13 est. | 35,595 | 28,691 | 28,074 | — | 0 |
| 26-10-16 | 36,818 | 29,677 | 29,039 | 14,030,176 | 0 |
| 26-10-23 | 43,000 | 33,771 | 33,066 | 14,030,176 | 7,000,000 |
| 26-10-30 | 43,124 | 33,868 | 33,161 | 14,030,176 | 7,003,418 |
Capital structure
Rounded thousands for mix display only. October 13 common and diluted counts are reconstructed estimates; the zero remaining PIPE warrant count is disclosed.
Swipe to see all columns →
| As of | Effective | AFDS | PF warrants | Trad. warrants |
|---|---|---|---|---|
| 26-10-30 | 127,331 | 130,045 | 0 | 0 |
| 26-10-23 | 127,328 | 130,045 | 0 | 0 |
| 26-10-16 | 124,064 | 126,790 | 0 | 0 |
| 26-10-13 est. | 124,062 | 126,791 | 0 | 0 |
| 26-10-09 | 110,387 | 113,116 | 0 | 15,256 |
| 26-10-02 | 100,939 | 103,715 | 0 | 23,250 |
| 26-09-25 | 97,652 | 100,777 | 0 | 25,350 |
| 26-09-18 | 97,003 | 100,145 | 0 | 25,810 |
| 26-09-11 | 94,969 | 98,139 | 0 | 26,596 |
| 26-09-04 | 94,935 | 98,149 | 0 | 26,596 |
| 26-08-28 | 93,263 | 96,523 | 0 | 26,596 |
| 26-06-30 | 81,945 | 84,653 | 0 | 26,596 |
| 26-03-31 | 69,159 | 71,986 | 0 | 26,596 |
| 25-12-31 | 44,767 | 44,767 | 54 | 26,594 |
| 25-09-30 | 42,205 | 42,205 | 8,862 | 27,281 |
Era
- Listing around 25-09-12. First quarter 25-09-30: 5,886 BTC / 13,946 AFDS sats.
- YE 2025: 7,627 BTC / 17,037 AFDS sats. QTD yield +22.2%.
- Semler was an all-stock Q1 2026 transaction: 7,627 → 13,628 BTC and AFDS 44,766,899 → 71,985,609. It was not an open-market BTC purchase.
- Q2 2026 preliminary: 19,864 BTC / 23,465 AFDS sats. Filing-locked yield 24.0%.
- Q3 2026 preliminary: 28,000 BTC / 27,801 AFDS sats. Company-reported Q3 yield 18.5%; September 30 YTD 63.2%; trailing 12 months 99.4%.
- Through 26-10-30: calculated Q4-to-date AFDS growth 19.3%; 2026 YTD 94.6%. BTC yield measures BTC/share growth, not the stock's investment return.
- Weekly holdings begin 26-05-22 and use Effective, not AFDS.