Shares in bitcoin treasury companies Strategy and Strive climbed sharply on Wednesday as the cryptocurrency reached its highest price in two weeks and investors assessed recent purchases and financing plans by both firms.
Strategy (Nasdaq: MSTR), the largest corporate holder of bitcoin, gained more than 7% to close at $153.48, according to Yahoo Finance data. The company holds more than $71 billion in bitcoin.
Strive (Nasdaq: ASST) rose more than 13%, ending the session at $30.75. The increases extended strong performances earlier in the week: Strategy advanced almost 5% on Tuesday, while Strive gained nearly 6% that day after rising 6% on Monday.
Bitcoin itself increased by more than 2% to trade at about $84,500. It reached $84,807 on Wednesday afternoon (E.T.), its highest level since October 7, as it moved towards a possible return above $85,000.
The performance of both companies is closely linked to bitcoin because their balance sheets and investment strategies are built around the cryptocurrency. However, each has used a different approach to funding its purchases and managing its finances.
Strategy increases bitcoin holdings
Strategy said on Monday that it had bought a further 267 BTC for approximately $22.1 million between Oct. 12 and Oct. 18. The purchase took its total holdings to 848,517 BTC, acquired at an average price of $82,900 per coin in the latest transaction.
The acquisition was funded mainly through the sale of 140,872 common shares. Strategy also disclosed that it had repurchased approximately $193.1 million of its STRC preferred shares.
The company increased its authorisation for repurchases of digital credit securities from $2 billion to $3 billion. It also reported approximately $5.28 billion in dollar-denominated assets, including reserves designed to cover preferred dividends and interest payments on debt.
Strive launches preferred shares
Strive has also continued to build its bitcoin reserves while introducing a new preferred stock intended to raise additional capital.
The Dallas-based company bought 4,045 BTC between Oct. 12 and Oct. 16, taking its total holdings to 36,818 BTC. Those holdings were valued at roughly $3.1 billion at recent market prices.
On Tuesday, Strive launched its Series A Perpetual Preferred Stock, which trades under the ticker SATS. The launch followed an upsized offering of 7 million shares priced at $90 each, raising $630 million.
The securities pay an annual dividend of 15% based on their $100 stated value, equivalent to an effective yield of approximately 16.7% at the offering price. Subject to board approval and available funds, Strive plans to pay cash dividends every business day from Nov. 9.
The proceeds could be used for additional bitcoin purchases, working capital, income-producing investments and share repurchases.
The renewed gains underline investor interest in listed bitcoin treasury companies, while also highlighting the added risks created by corporate financing, dividend commitments and possible shareholder dilution.
Higher bitcoin prices can increase the value of companies’ holdings and make fundraising more attractive. But falling prices can magnify losses and expose shareholders to volatility beyond movements in bitcoin itself.
Strategy’s shares fell to about $82 this summer as its holdings moved underwater and concerns grew over its continued accumulation. The stock has since recovered those losses and was up by roughly 1% since the start of 2026.
