Strive Is Running Saylor's Playbook and Has Raised Enough for 638 Bitcoin

And with bitcoin’s price near $82,800 on Friday, 638 $BTC is worth roughly $53 million, which lines up with the proceeds estimate.

Two Days Did the Heavy Lifting

Volume above $100 showed up on Monday, Oct. 5, and for most of Tuesday, Oct. 6. From Wednesday through Friday, SATA traded entirely below par, and the estimated issuance went quiet even as daily volume hit some of its highest levels of the week.

That is the built-in brake on this kind of machine. Selling new preferred shares below par would dilute the program’s own promise, so issuance pauses until buyers push the price back up. As a result, the week’s bitcoin bid depended almost entirely on demand for a yield product on two trading days.

The Saylor Template

Michael Saylor’s Strategy built this model with STRC, its variable-rate perpetual preferred stock, which is best described as the engine behind Strategy’s 2026 buying. Strive’s SATA is a smaller copy of the same idea.

This week the copy was busier than the original, at least on the latest filed data. Strategy’s Oct. 5 8-K filing shows it sold zero STRC shares from Sept. 28 through Oct. 4. Its 334 $BTC purchase over Oct. 1 to Oct. 4 was funded by selling MSTR common stock instead, which lifted its stack to 848,000 $BTC.