Strive Buys $109 Million in Bitcoin, Pushes Preferred Stock Toward $1 Billion — SkimNews
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- Strive bought 1,375 BTC for $109 million between Aug. 31 and Sept. 4 at an average price of $79,281 per coin, lifting total holdings to 24,531 BTC worth roughly $1.9 billion at current prices.
- SATA, Strive's Variable Rate Series A Perpetual Preferred Stock paying a 13% annual dividend, provided 70% of last week's capital and now has $999 million in notional value outstanding—just short of $1 billion.
- Chief Risk Officer Jeff Walton said Strive posted its third straight week of 5%-plus Bitcoin growth, with holdings rising 21.1% over three weeks from 20,245 BTC to 24,531 BTC.
- Strive is now the fifth-largest corporate Bitcoin treasury in the world, ahead of SpaceX, Coinbase, and Trump Media and Technology Group, per Bitcoin Treasuries data, and trails second-place Twenty One Capital (~43,500 BTC) by roughly 19,000 BTC.
- Strive's cash position grew from $183.5 million to $202.6 million despite the purchase, with CEO Matt Cole pointing to more than $700 million in outstanding warrants that could unlock up to $1.4 billion more for future Bitcoin buys.
- Strategy's preferred-stock analog STRC sank below its $100 face value this year and the company sold Bitcoin for the first time since 2022 to cover its dividend—a failure mode Strive's SATA mechanism hasn't yet faced in a deep downturn.
Why it matters: Strive is scaling its Bitcoin treasury at a 21% three-week clip entirely through a preferred-stock dividend model that pays 13% annually, and the $999 million in SATA notional value is about to cross a psychological threshold. The structural risk is real: Strategy's STRC had to sell Bitcoin to service its dividend after a price drop, and Strive has not been tested in a downturn nearly that deep.
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