Strive Raises Capital via SATA Preferred to Buy 578 Bitcoin
ASST has more than doubled off its 52-week low of $7.02.
Summary
Strive has raised capital through its SATA perpetual preferred stock to acquire 578 Bitcoin, continuing its aggressive accumulation strategy. The SATA instrument has now reached approximately $999.5 million in notional outstanding across 9,995,425 shares, with 16 consecutive sessions at par value indicating strong demand. This follows a series of large Bitcoin purchases throughout 2026, including 1,375 BTC for $109 million in early September, of which 70% was funded by SATA. The company maintains a debt-free balance sheet and holds 18 months of dividend reserves, supporting its unique preferred-equity funding model. The market's acceptance of SATA at par suggests confidence in Strive's approach, though the 13% annualized dividend creates a significant ongoing obligation.
At the time of this announcement, ASST was trading at $27.61 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.6B. The 52-week trading range was $7.02 to $197.60. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Crypto Briefing.