Strive raises funds to acquire 220 Bitcoin in 11-day streak

Strive, the asset management firm co-founded by Vivek Ramaswamy, has raised enough capital through its preferred stock offering to purchase 220 Bitcoin over an 11-day fundraising streak. The company, which trades on NASDAQ under the ticker ASST, has turned its Series A Perpetual Preferred Stock (SATA) into a Bitcoin acquisition machine that shows no signs of slowing down.

The 220 BTC haul is the latest in a series of escalating purchase streaks that have pushed Strive's total Bitcoin treasury past 23,000 BTC, a stockpile worth billions at current prices.

Strive's approach to Bitcoin accumulation looks different from the playbook popularized by Strategy (formerly MicroStrategy). Instead of issuing convertible debt or leveraging its balance sheet, Strive funds its purchases through SATA, a variable rate perpetual preferred stock with a $500 million at-the-market (ATM) authorization established in December 2025.

The mechanics are straightforward. Strive issues preferred shares, collects the proceeds, and converts them into Bitcoin. No debt. No margin calls. No refinancing risk.

Starting June 16, 2026, SATA began paying a variable annualized dividend of approximately 13%, distributed daily. That made it the first US-listed security to offer daily dividend payouts, a feature designed to attract yield-hungry investors who might otherwise park their money in bonds or dividend ETFs.