Strive Inc. added 1,375 bitcoin to its corporate treasury last week, lifting its holdings to 24,531 BTC and making it the fifth-largest bitcoin treasury company. CEO Matt Cole said most of the capital raised last week came from sales of the firm's SATA preferred stock, while Strive's own shares surged 114% over the past 30 days.
Strive disclosed on Tuesday that it bought another 1,375 bitcoin last week. The move comes as rival treasury firm Strategy has paused its own buying for now. According to an SEC Form 8-K submitted by Strive, the company acquired the coins between Aug. 31 and Sept. 4. The filing shows Strive spent about $109 million on the purchase. That works out to roughly $79,281 per bitcoin.
Treasury climbs to fifth largest
The purchase pushes Strive's total corporate bitcoin treasury to 24,531 BTC, putting the firm among the largest corporate holders of the asset. CEO Matt Cole wrote on X that 70% of the capital raised last week came from SATA, a variable-rate preferred stock that now has $999 million in notional outstanding. According to Cole: "Time to break the billion-dollar wall."
SATA works much like Strategy's STRC preferred stock, one of the financing tools Strive uses to keep accumulating bitcoin. The instrument pays a 13% annualized dividend in cash every business day and targets trading near par; when it trades above par, Strive can issue more shares through an at-the-market program.
ASST shares jump as bitcoin buying accelerates
Strive's common stock, ASST, has held up better than many other digital asset treasury companies. Shares climbed 6.4% over the past five days and are up 114% over the past 30 days, a run that accelerated in mid-August as bitcoin buying and SATA volume both increased. Strategy founder Michael Saylor replied to Cole's post referencing the 1,375-bitcoin purchase with a rocket emoji.
Sources: Strive SEC Form 8-K, Bitcoin News
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