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Strive Buys $109 Million in Bitcoin, Pushes Preferred Stock Toward $1 Billion

Created at 8 Sep · 5:51 PM1 source↑ Market-relevant
IN SHORT

Strive acquired an additional 1,375 Bitcoin for $109 million, increasing its total holdings to 24,531 BTC. The company's preferred stock, SATA, now has a notional value of $999 million outstanding, nearing a $1 billion milestone.

Key Numbers

1,375 BTCBitcoin purchased in recent acquisition
$109 millionAmount spent on recent Bitcoin purchase
$79,281Average purchase price per Bitcoin
24,531 BTCTotal Bitcoin holdings
$1.9 billionApproximate current value of Bitcoin holdings
70%Proportion of capital raised from preferred stock
$999 millionNotional value of preferred stock outstanding
13%Annual dividend on preferred stock
21.1%Bitcoin holdings growth over three weeks
$202.6 millionStrive's cash position after purchase

Who's Involved

Strive
Asset manager that purchased Bitcoin and issued preferred stock
Matt Cole
CEO of Strive, announced Bitcoin purchase and preferred stock value
Jeff Walton
Chief Risk Officer at Strive, commented on holdings growth
SATA
Strive's Variable Rate Series A Perpetual Preferred Stock
Strive Buys $109 Million in Bitcoin, Pushes Preferred Stock Toward $1 Billion

↳ Why This Matters

Strive's aggressive Bitcoin accumulation strategy, funded by its preferred stock, highlights a growing trend among companies to leverage digital assets for growth. The nearing $1 billion valuation of its preferred stock indicates investor appetite for this model, though it carries risks similar to other Bitcoin-backed corporate strategies.

Key facts

  • Strive purchased 1,375 BTC for approximately $109 million.
  • The company's total Bitcoin holdings now stand at 24,531 BTC.
  • Strive's preferred stock, SATA, has reached $999 million in notional value outstanding.
  • The preferred stock pays a fixed dividend of 13% annually.
  • Strive's Bitcoin holdings have increased by 21.1% in the last three weeks.

Strive has acquired an additional 1,375 Bitcoin for approximately $109 million, bringing its total holdings to 24,531 BTC. The purchases were made between August 31 and September 4 at an average price of $79,281 per coin. This latest acquisition continues Strive's strategy of increasing its Bitcoin reserves, with holdings growing 21.1% over the past three weeks.

Seventy percent of the capital raised for these purchases came from SATA, Strive's preferred stock, which now has a notional value of $999 million outstanding, nearing a $1 billion milestone. This preferred stock structure allows Strive to raise capital for Bitcoin purchases without rapid shareholder dilution or taking on debt with fixed repayment schedules. SATA pays a fixed annual dividend of 13%.

Strive is positioned as the fifth-largest corporate Bitcoin treasury globally, behind firms like Twenty One Capital and MicroStrategy. The company's cash position also saw an increase to $202.6 million following the Bitcoin purchase.

Frequently asked questions

Strive acquired an additional 1,375 Bitcoin for approximately $109 million.

The company now holds a total of 24,531 Bitcoin.

SATA is Strive's Variable Rate Series A Perpetual Preferred Stock, which pays a fixed 13% annual dividend.

SATA has $999 million in notional value outstanding, nearing a $1 billion milestone.

What Happens Next

01Strive aims to break the $1 billion wall for its preferred stock.
02The company may continue its aggressive Bitcoin purchasing strategy.
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How It Developed

Strive acquired 1,375 Bitcoin for $109 million between August 31 and September 4.
The average purchase price for the Bitcoin was $79,281 per coin.
Strive's total Bitcoin holdings increased to 24,531 BTC.
Seventy percent of the capital raised for the purchase came from Strive's preferred stock, SATA.
SATA now has $999 million in notional value outstanding.
Strive's Bitcoin holdings have grown 21.1% over the past three weeks.
Strive's cash position increased to $202.6 million after the purchase.

Sources

T1
Strive Buys $109 Million in Bitcoin, Pushes Preferred Stock Toward $1 BillionDecrypt

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