Bitcoin treasury Strive bought 20 BTC, but 110,000 new shares left holders with less Bitcoin exposure
Summary
Strive bought 20 BTC in the final week of July 2026 at an average price of about $63,191, raising holdings from 20,000 BTC to 20,020 BTC. But effective common shares also rose, from 84,099,973 to 84,209,973, driven entirely by 110,000 additional Class A shares. As a result, Bitcoin exposure per effective common share slipped slightly, from about 23,781.2 to 23,773.9 satoshis, a decline of roughly 0.03%. Using a fully diluted share count that includes options and unvested RSUs shows the same pattern: Bitcoin per share fell about 0.026%. Cash balances also declined modestly, but the filing does not explain the share issuance or tie it to the BTC purchase. This runs counter to Strive’s stated long-term goal of increasing Bitcoin per share.
