Strive May Have Raised Equivalent of 1,192 BTC via Preferred Stock, Potential for Additional Bitcoin Purchases

Analysis by a Bitcoin treasury company data site reveals that Strive, a U.S. asset management firm with substantial Bitcoin holdings, may have raised funds equivalent to approximately 1,192 BTC through the issuance of preferred stock. The company has been steadily accumulating Bitcoin, and attention is focused on whether this latest capital raise will lead to further purchases.

According to analysis published by BitcoinTreasuries.net on the 28th, trading data for Strive's Variable Rate Series A Perpetual Preferred Stock (ticker: SATA) suggests the funds raised reached a scale capable of purchasing 1,192 Bitcoin. This figure was calculated by applying an estimated capture rate—based on documents Strive filed with the U.S. Securities and Exchange Commission (SEC)—to trading volume occurring when SATA's trading price was at or above its $100 par value.

The analysis excludes investor-to-investor transactions in the secondary market from total trading volume, estimating the portion attributable to newly issued shares sold by Strive based on historical figures.

SATA is a perpetual preferred stock with a $100 par value, designed to pay a 13% annual dividend on each business day. The company's policy is to issue new shares through an ATM (at-the-market) program only when the stock trades at or above $100 in the market. Issuance below par value is avoided as it would dilute existing shareholders.