Key Takeaways
- Strive secured approximately $85.88 million via SATA preferred stock offerings across three consecutive trading days between September 21 and September 23.
- The capital raised could support the acquisition of approximately 1,002 Bitcoin, according to data from BitcoinTreasuries.net.
- Strategy purchased 950 BTC during the week concluding September 20, while simultaneously deploying $174 million to repurchase its STRC preferred stock.
- Strive’s most recent regulatory disclosure indicated a Bitcoin treasury of 26,355 BTC as of September 18.
- Investors can access Strive’s Bitcoin strategy through both ASST and SATA securities, which are listed on the Nasdaq exchange.
Strive continues to accelerate its Bitcoin accumulation strategy at a rapid pace. The firm generated an estimated $85.88 million through SATA preferred stock transactions during a three-day window this week, based on data compiled by BitcoinTreasuries.net.
The proceeds position the company to acquire approximately 1,002 Bitcoin at prevailing market rates. While these figures represent projections rather than confirmed acquisitions, they demonstrate Strive’s continued ability to raise capital even as competitors adopt more conservative approaches.
The fundraising activity spanned September 21 through September 23, with each trading session generating varying amounts of capital.
Breakdown of Capital Raising Activity
During the September 21 session, Strive completed the sale of approximately 284,000 SATA shares, generating $27.69 million in net capital. At an average Bitcoin price of $86,001, this amount could support the purchase of roughly 322 BTC.
The middle session on September 22 proved most productive, with around 370,000 shares transacted for $36.08 million in proceeds. This sum could facilitate the acquisition of an estimated 418 BTC at an average cost of $86,266 per coin.
The final session on September 23 yielded $22.11 million from approximately 226,700 shares sold. Based on an average Bitcoin price of $84,556, this capital could cover roughly 261 BTC.
BitcoinTreasuries.net derives these projections by monitoring SATA trading volume when shares trade at or above their $100 par value benchmark. The platform then calculates estimated net proceeds and divides by prevailing Bitcoin prices. While the methodology is calibrated against Strive’s official regulatory submissions, these remain estimates pending company confirmation.
Strive’s most recently verified purchase activity covered the period from September 14 through September 18. During that window, the company acquired 1,355 BTC for approximately $107.7 million, averaging $79,475 per coin. This expanded the firm’s confirmed Bitcoin holdings from 25,000 BTC to 26,355 BTC.
CEO Matt Cole provided additional context regarding the fundraising composition. In a post on X, he noted that warrant exercises contributed $21.2 million, while SATA proceeds accounted for 57.7% of total capital raised during the reporting period.
Contrasting Strategy at Competitor
Strategy, which maintains the largest corporate Bitcoin treasury, pursued a distinctly different approach during its latest reporting week. The company added 950 BTC through a $75.7 million purchase, paying an average of $79,670 per coin, which brought its cumulative holdings to 846,000 BTC.
However, Strategy simultaneously allocated $174 million toward repurchasing its STRC preferred stock. This buyback activity is particularly significant given that STRC has traded below its $100 par value since June, and the company has not issued new capital through this security in several months.
Strategy financed both the Bitcoin acquisition and stock repurchase from its existing USD cash reserves, which declined from approximately $1.30 billion to $1.05 billion throughout the week. The company reported zero new STRC sales during this timeframe in its SEC disclosure.
Strive, conversely, has maintained continuous utilization of its at-the-market offering program. Additionally, Strive holds a position in Strategy’s preferred stock, owning 505,000 STRC shares with an estimated value of $49.7 million as of September 18.
SATA currently features a 13% annualized dividend rate for the September period. STRC’s corresponding rate stands at 12%, according to each company’s official statements.
Both Strive’s ASST common stock and SATA preferred shares maintain Nasdaq listings. Strategy’s average acquisition cost across its entire 846,000 BTC portfolio calculates to $75,416 per coin, representing a cumulative investment of approximately $63.8 billion.
Strive’s forthcoming SEC filing will confirm whether the projected SATA proceeds from the three-day period were deployed toward additional Bitcoin acquisitions.
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