Strive raises $100M through preferred equity, buys more Bitcoin in aggressive treasury push

Strive, the Bitcoin treasury company trading on NASDAQ under the ticker ASST, pulled in $100 million through its preferred equity instrument in just seven days. The capital raise, executed through the company’s Variable Rate Series A Perpetual Preferred Stock (SATA), is fueling an aggressive Bitcoin buying spree that has vaulted Strive into the upper ranks of public company Bitcoin holders. The company’s total Bitcoin stash now sits at 21,356 BTC, making it the seventh-largest public holder of the asset. For a company that only completed its merger and went public in 2025, that’s a remarkably fast climb up the leaderboard. How SATA works as a Bitcoin acquisition engine SATA is a perpetual preferred stock, meaning it doesn’t mature or expire, and it pays a variable dividend of 13% on a daily basis. The instrument is designed to trade in a tight band between $99 and $101, hovering around its $100 par value. When SATA trades at or above par, Strive can issue new shares through its at-the-market (ATM) program without diluting value. The ATM program is authorized for up to $500 million, giving the company substantial runway to keep raising capital and converting it into Bitcoin. During ...