Strive's Bitcoin Buying Accelerates: 220 BTC in 11 Days via Preferred Stock
ASST has more than doubled off its 52-week low of $7.02 on elevated volume (3.1× avg).
Summary
Strive raised capital through its Series A Perpetual Preferred Stock (SATA) to acquire 220 Bitcoin over an 11-day streak, pushing its total treasury past 23,000 BTC. The pace is accelerating: earlier streaks funded 104 BTC over 9 days and 143 BTC over 10 days. The company funds purchases entirely through SATA issuance, avoiding debt and margin risk, but pays a 13% annualized dividend. This follows the late-August 8-K disclosing a 1,800 BTC purchase at $79,431 average, and the Q2 loss of $257.6 million driven by unrealized Bitcoin losses. The key metric to watch is Bitcoin per share, which determines whether dilution from new SATA issuance is offset by treasury growth.
At the time of this announcement, ASST was trading at $26.89 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.4B. The 52-week trading range was $7.02 to $252.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Crypto Briefing.