Strive Buys $109 Million in Bitcoin, Pushes Preferred Stock Toward $1 Billion
Strive bought 1,375 more Bitcoin for $109 million at an average price of $79,281, lifting holdings to 24,531 BTC worth about $1.9 billion. The purchase was largely funded by SATA preferred stock, which supplied 70% of last week’s capital; SATA now has $999 million outstanding, just below a $1 billion milestone. The firm uses preferred stock instead of heavy debt to keep raising money for Bitcoin purchases, but the model is vulnerable if the stock falls below par and dividend costs become hard to cover. Strive has increased its Bitcoin stack 21.1% in three weeks and is now the fifth-largest corporate Bitcoin treasury, though still far behind Twenty One Capital. Strive, created through a 2025 merger and later boosted by the Semler Scientific acquisition, has been buying Bitcoin nearly every week. It also has $202.6 million in cash and says more warrant value could fund additional purchases.
