Strive Asset Management (Nasdaq: ASST) bought 3,311 BTC for roughly $280 million between October 5 and October 9, outpacing Michael Saylor's Strategy by roughly 13 to 1 in the same window. The firm disclosed the purchase, its largest since January, at an average price near $84,500 while the market sold off.

The buying caps a three-week acceleration: $94.5 million in late September, $169 million in early October, then $280 million. Strive's total holdings now stand at 32,773 BTC, worth about $2.73 billion at current prices.

Strategy, by contrast, purchased 250 BTC for about $21.5 million in the same stretch, and its acquisitions have shrunk for two consecutive weeks. The company spent nearly nine times more buying back its own preferred shares — $192 million — than it spent on Bitcoin. Its mNAV dropped below 1.0 for the first time, meaning the market now values the company at less than the Bitcoin on its balance sheet.

The gap in total holdings remains enormous. Strategy still holds 848,250 BTC, a position worth roughly $51 billion and more than 25 times Strive's stack. Saylor keeps the crown as largest corporate holder; "most aggressive buyer right now" is now a separate title, and Strive holds it.

How does Strive plan to keep buying?

The firm is selling 5 million shares of a new preferred stock, SATS, at $100 each — a $500 million raise paying a fixed 15% dividend daily, with proceeds earmarked for more Bitcoin. That works out to roughly $75 million a year in cash obligations, an expensive structure that only clears if the Bitcoin thesis pays. Meanwhile, with Strive's earlier preferred STRC trading at $99.90 — its highest level since the May depeg — Saylor's preferred-funded Bitcoin faucet has room to reopen as well.

The macro backdrop is cooperative. Bitcoin trades at $83,600, up 0.2%, ahead of the CPI print, and spot ETF flows flipped positive again: $175 million into Bitcoin ETFs on Tuesday and $25 million into ETH ETFs, breaking a 10-day outflow streak.

What else moved this week?

• Solana's Alpenglow upgrade has a date. Core developer Anza scheduled the consensus overhaul for mainnet-beta on October 21. It replaces TowerBFT with Votor, cutting finality from roughly 12.8 seconds to 150 milliseconds and moving validator votes off-chain entirely.
• Binance exits mining. The exchange is shutting down Binance Pool and all attached services, disconnecting miners on November 10 after nine years and roughly 2.3% of network hashrate.
• Coinbase backed a quantum roadmap. The custodian, which holds roughly 5% of all bitcoin in existence, endorsed the BIP-360 (P2MR) and P2TRv2 proposals with a phased rollout letting active wallets spend with old or quantum-safe keys.
• BNY and Citadel Securities tested tokenized Treasuries. The firms completed a transaction moving bonds from settlement into financing, targeting faster collateral pledge and cash recycling.
• Sui processed its first native quantum-safe transaction on devnet, with Mysten Labs adding ML-DSA-65 signature support in release v1.82.0, targeting testnet by year-end and mainnet authentication in Q1 2027.
• Trezor will end all reseller authorizations on January 1, 2027, days after Ledger's security team found wallets from a Southeast Asian retailer carrying a hidden component.
• Interactive Brokers enabled ETH staking through infrastructure provider ZeroHash, adding a Staking Dashboard to its Client Portal.

A dormant wallet that had held through every crash since 2020 moved its entire 4,581.94 BTC — about $377 million — on October 12, splitting the funds across five new addresses.

Whether Strive's $500 million preferred sale clears the market will say a lot about investor appetite for leveraged Bitcoin accumulation at a 15% coupon — and whether the two-title era of corporate Bitcoin buying becomes the new normal.