Strive raises enough capital to buy over 105 Bitcoin in first hour of market open

Strive’s preferred stock ticker, $SATA, generated enough proceeds to purchase more than 105 Bitcoin within the first 60 minutes of trading. For a company that has turned perpetual preferred equity into a Bitcoin accumulation machine, that kind of pace is becoming routine. The capital raise happened through Strive’s at-the-market (ATM) program for its Variable Rate Series A Perpetual Preferred Stock, a financial instrument designed specifically to fund Bitcoin purchases without taking on debt or diluting common shareholders. How the SATA machine works Strive, which trades on the NASDAQ under the ticker ASST, authorized an ATM program in December 2025 allowing up to $500 million in SATA issuances. Each share carries a par value of $100 and pays a variable annualized dividend of roughly 13%. The company completed an IPO of 2 million SATA shares back in November 2025, raising approximately $149 million. Since then, the issuance program has scaled considerably, with proceeds flowing directly into Bitcoin acquisitions. The key structural advantage is that Strive maintains a debt-free balance sheet throughout this entire process. No bonds, no credit lines, no leveraged positions that coul...