Strive CEO Says Company Could Become Second-Largest Public Bitcoin Holder by 2026

More than $700 million in warrants remain outstanding

Strive Asset Management’s CEO Matt Cole stated the firm could rank as the second-largest public holder of bitcoin by the end of 2026, driven by potential warrant exercises and rising share prices. The company’s ASST shares reached a year-to-date high of $26.84 on Thursday, nearing the $27 exercise price of over $700 million in outstanding warrants. Cole made the remarks during a recent interview, emphasizing that if warrants are exercised, the proceeds could fund another major round of bitcoin acquisitions. Strive currently holds bitcoin as part of its treasury strategy through its exchange-traded product offerings. The potential growth in Strive’s bitcoin holdings hinges on investor demand for its ASST shares and the conversion of warrants into equity. With ASST trading close to the warrant strike price, each exercised warrant would deliver $27 in capital to the company, which Cole indicated could be reinvested into bitcoin.

More than $700 million in warrants remain outstanding, representing a significant potential influx of funds if market conditions support conversion. Strive has positioned itself as a bridge between traditional equity markets and cryptocurrency exposure, appealing to investors seeking regulated access to bitcoin. How Warrant Exercise Could Fuel Further Bitcoin Accumulation The structure of Strive’s warrants allows investors to purchase shares at $27 each, providing a direct mechanism for capital infusion if the stock sustains levels above that threshold. Cole noted that the company does not intend to hold the proceeds in cash but would likely use them to increase its bitcoin treasury holdings. This approach mirrors strategies used by other public bitcoin holders, where equity raises are funneled directly into cryptocurrency purchases.

The timing of any major purchase would depend on warrant exercise patterns and prevailing bitcoin prices

The timing of any major purchase would depend on warrant exercise patterns and prevailing bitcoin prices, but Cole expressed confidence in the long-term upside. Could Strive Surpass Other Public Bitcoin Holders by 2026? While Strive currently trails firms like MicroStrategy in total bitcoin holdings, Cole believes the warrant-driven capital potential could shift the ranking within two years. He emphasized that the goal is not merely to accumulate bitcoin but to do so through a transparent, publicly traded vehicle that offers institutional-grade access. Regulatory clarity and investor appetite for crypto-linked equities will play a key role in determining how quickly Strive can scale its holdings. Cole added that the company remains focused on long-term value creation rather than short-term price speculation. Frequently Asked Questions What triggers the exercise of Strive’s warrants?

Warrants become exercisable when the ASST share price reaches or exceeds the $27 strike price, allowing holders to buy shares at that level. How would Strive use funds from warrant exercises? CEO Matt Cole indicated the proceeds would likely be reinvested into additional bitcoin purchases rather than held as cash. Is Strive aiming to hold more bitcoin than MicroStrategy? Cole said the firm could become the second-largest public bitcoin holder by 2026, implying MicroStrategy would remain the largest.