Key Takeaways
- Strive acquired a further 1,223 BTC at $81,734 per coin, bringing its holdings to 36,818 BTC.
- The firm purchased 4,045 BTC in five days last week, spending approximately $335 million.
- Strive expects its $630 million SATS preferred-stock offering to settle Oct. 20.
Strive Scoops up Another 1,223 Bitcoin as $630 Million Deal Looms
Strive isn’t wasting time filling its bitcoin vault. The Nasdaq-listed asset manager has acquired another 1,223 BTC for approximately $100 million, lifting its total holdings to 36,818 BTC as of Oct. 16.
The latest purchase brings its five-day buying spree to 4,045 BTC, acquired for roughly $335 million. And there’s another financial maneuver in the works. A $630 million preferred-stock offering is scheduled to settle on Tuesday, potentially giving the company fresh capital to continue accumulating bitcoin (BTC).
“Last Wed-Fri, Strive acquired 1,223 BTC at an average cost of $81,734 per bitcoin, bringing holdings to ₿36,818,” Strive CEO Matt Cole said on X. “SATS IPO proceeds settle this Tuesday; Strive plans to maintain current 18-month dividend reserve; traditional warrants are expired,” Cole added.
Preferred Shares Provide Another Funding Avenue
The buying spree coincides with an aggressive capital-raising campaign. Strive recently priced 7 million shares of its new 15% Series A perpetual preferred stock, SATS, at $90 apiece, targeting approximately $630 million in gross proceeds. The offering is expected to settle Oct. 20, subject to customary conditions. SATS is different than SATA, Strive’s original perpetual preferred stock.
SATA holders have first priority over SATS holders when dividends are paid, or if the company shuts down and sells its assets. Both SATA and SATS holders get paid before regular Strive shareholders holding ASST. Meanwhile, traditional warrants issued in connection with the company’s September 2025 transaction have all been exercised or expired, eliminating that outstanding warrant overhang.
Strive Moves Well Ahead of MARA
With 36,818 BTC, Strive has jumped well ahead of MARA Holdings‘ reported 35,577 BTC treasury. The company has managed to continue bitcoin accumulation through equity financing and preferred securities rather than conventional borrowing. Its latest offering carries a 15% annual dividend rate, introducing an ongoing financial obligation alongside its expanding bitcoin holdings. The next question is how much of Strive’s incoming capital will find its way into bitcoin.
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