Strive reaches 25,000 BTC milestone after 469 BTC buying week
Strive (NASDAQ: ASST) bought 469 Bitcoin last week and paid for every coin with preferred stock, lifting its treasury to around 25,000 BTC.
That action also pushed the notional value of its main financing tool past $1 billion for the first time.
An all-SATA week, and the billion-dollar wall breaks
The asset manager acquired the 469 coins between September 8 and September 11 at an average of $77,954 each, spending roughly $36.6 million, according to a Form 8-K filed with the SEC on September 14.
That took its holdings from 24,531 BTC, where they stood at the start of the month, to 25,000.
However, the funding for this purchase came from SATA, which is Strive’s Variable Rate Series A Perpetual Preferred Stock, a floating-rate instrument that pays a 13% annualized dividend every business day.
Matt Cole, Strive’s CEO wrote on X, “100% of the capital raised came from SATA, which now has over $1B notional outstanding,” and that the company “increased amplification ratio to 53.5%.”
In its filing, preferred shares outstanding rose by 402,541, from 9,995,425 to 10,397,966. At SATA’s $100 stated amount, that is about $40.3 million of fresh preferred, lifting the outstanding notional to roughly $1.04 billion from $999.5 million a week earlier.
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