Strive Buys $109 Million in Bitcoin, Pushes Preferred Stock Toward $1 Billion — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Strive bought 1,375 BTC for roughly $109 million between Aug. 31 and Sept. 4 at an average of $79,281 per coin, lifting total holdings to 24,531 BTC worth approximately $1.9 billion
- SATA, Strive's Variable Rate Series A Perpetual Preferred Stock, now has $999 million in notional value outstanding after 70% of last week's capital raise flowed through the instrument, according to CEO Matt Cole
- Chief Risk Officer Jeff Walton confirmed holdings rose 5.9% week-over-week—the third consecutive week of 5%+ growth, and a 21.1% increase over the past three weeks (20,245 → 24,531 BTC)
- Strive is now the fifth-largest corporate Bitcoin treasury in the world, surpassing SpaceX, Coinbase, and Trump Media and Technology Group, per Bitcoin Treasuries data
- Twenty One Capital, the Tether-backed firm holding roughly 43,500 BTC, remains about 19,000 BTC ahead—meaning Strive would need to sustain roughly 1,200 BTC in net weekly purchases through the remaining 16 weeks of 2026 to close the gap
- SATA pays a 13% annual fixed dividend and mirrors Strategy's STRC structure, which sank below its $100 par value this year and forced Strategy to sell Bitcoin for the first time since 2022 specifically to cover the dividend
- Strive's cash position grew to $202.6 million from $183.5 million even after the latest purchase, with more than $700 million in outstanding warrants that could unlock up to $1.4 billion for future Bitcoin buys
Why it matters: Strive's preferred-stock funding vehicle now sits $1 million from a ten-figure milestone, validating perpetual-instrument financing for Bitcoin treasuries. But the same mechanism tripped Strategy's STRC this year, forcing a Bitcoin sale to cover dividends; SATA hasn't faced a downturn that deep yet. Closing the gap with Twenty One Capital requires sustaining ~1,200 BTC in weekly net buys through year-end.
Ask SkimNews
