Strategy and Strive combined to buy $183 million of the Bitcoin as it climbed back up to $85,000.

The price of bitcoin rebounded to $85,000, pushing corporate treasury holdings overall back above the cost line. According to regulatory filings, Strategy and Strive bought a combined total of about $183 million in Bitcoin last week, signaling a long-overdue warm up for an ongoing cooling business buying spree.

The two companies bought a combined 2,305 BTC in one week.

Strategy Inc. is currently the world's largest publicly traded company in terms of Bitcoin holdings.[citation needed] According to its regulatory filing on Monday, it purchased 950 BTC at an average price of $79,670 and invested about $757,000 between September 14th and 20th.[28] After this increase, its total holding went back to 846,000 units for a cumulative purchase cost of approximately $63.8 billion with an average holding cost of $754,169.[29]

Strive Inc. purchased 469 BTC in the previous week and 1375 BTC at the beginning of September, then again on 14-18 September to purchase 1,355 BTC for an average price of $79,475, costing about $107.7 million and increasing its treasury size to 26,355. Its cash and equivalents reserves increased to approximately $229.6 million over the same period.

It is worth noting that the purchase prices of both companies are lower than Bitcoin's current market price. On Monday, bitcoin broke through $85,000 to reach a new high since January and has recovered nearly 30% from its August lows.

Corporate Treasury Holdings Overall Returned Above Cost Line

On-chain data provider Glassnode released a report last week stating that listed companies have only added about 5,900 BTC over the past three months, down significantly from around 89,000 in July 2025. The agency estimates an average purchase cost of approximately $80,500 for its corporate treasury segment. At the time of publication, bitcoin prices remained below this level, which means that the entire corporate holding pool was floating at a loss. After breaking through $85,000 on Monday, the group's overall holdings are back above projected costs.

Changes to Strategy's books in parallel with capital operations

For Strategy, the accounting impact of a warmer market was particularly significant. Bitcoin closed at $58,714 in Q2, when the company already held 846,000 BTC, and price declines led to its second-quarter digital asset related losses of $8.32 billion, including an unrealized loss of $83.1 million. The current holdings are valued at approximately $7.19 billion based on $85,000, with cumulative purchase costs of about $8.1 billion higher than the corresponding estimate of more than $22 billion for closing prices as of June 30.

At the same time, Strategy is also using some of its funds to manage financing instruments. The company repurchased 1.77 million floating rate preferred shares in STRC for $174 million last week and moved $57.4 million from reserves to pay preferred stock dividends and debt interest, leaving it with a reserve balance of $5.04 billion as of September 20 alongside another $1.05 billion in separately allocated cash. Chief Executive Officer Phong Le had said in July that buying back STRC at below par would help reduce future dividend burdens.

Strive continues to leverage on preferred equity financing

Strive maintained a more consistent pace of purchases, funded primarily by the issuance of SATA preferred shares. The securities industry also began contributing new funds last week, generating roughly $21.2 million in gross proceeds. Including this portion of funding, the company disclosed that SATA accounted for about 57.7% of its total cumulative financing.

This pattern is easier to maintain when bitcoin's gains are faster than the cost of financing securities. The purchase price for Strive this round was nearly $5,500 below Monday's market price of about $85,000, although its overall holding costs were still closer to market prices than Strategy's.

The next market concern is whether there will be more corporate buyers re-entering as bitcoin breaks through the $80,500 industry cost line. Glassnode's data shows that in 2025, corporate treasury demand for tens of thousands of BTC per month has now been concentrated into a few active buyer hands.

(Source provided by CryptoSlate)