Strive Buys 1,375 More Bitcoin, Bringing SATA Balance to the Brink of $1 Billion

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Strive (ASST), which is pursuing a Bitcoin treasury strategy, added substantially to its holdings last week with another large purchase. The balance of its self-issued SATA preferred stock also approached $1 billion.

The Block reported on September 8 that Strive bought 1,375 Bitcoin for about $109 million between August 31 and September 4. An 8-K filing with the US Securities and Exchange Commission showed the average purchase price was $79,281, bringing the company's total holdings to 24,531 Bitcoin.

Chief Executive Officer Matt Cole wrote on X that 70% of the funds raised this week came from sales of SATA perpetual preferred stock. The SATA balance reached $999 million, he wrote, adding that it was time to break through the $1 billion threshold. Over that period, SATA shares increased by 921,511, bringing total shares outstanding to nearly 10 million.