Strive has expanded its Bitcoin treasury with another major acquisition, purchasing 1,223 BTC for approximately $100 million. The latest investment brings the Nasdaq-listed company's total Bitcoin holdings to 36,818 BTC as it prepares to receive $630 million from its SATS preferred stock offering.
Strive CEO Matt Cole announced on October 19 that the company purchased the additional Bitcoin between October 14 and 16 at an average price of $81,734 per BTC. The transaction cost approximately $99.96 million, increasing Strive's Bitcoin reserves by 3.44% from its previous holdings of 35,595 BTC.
The acquisition follows another significant Bitcoin purchase earlier in October. Strive acquired 2,822 BTC for approximately $235 million on October 12 and 13, continuing its aggressive corporate Bitcoin accumulation strategy.
Combined, the two transactions added 4,045 BTC to Strive's balance sheet within five days, highlighting its commitment to building one of the largest corporate Bitcoin treasuries.
Meanwhile, Strive expects to receive proceeds from its SATS preferred stock initial public offering on October 20. The company recently expanded the offering from five million to seven million shares, pricing each share at $90.
The offering is expected to generate approximately $630 million in gross proceeds before deducting underwriting fees and other expenses.
According to Strive's October 15 regulatory filing, the funds may support additional Bitcoin purchases, working capital requirements, and income-generating investments. The company also retains flexibility to finance operating expenses, repurchase common shares, or redeem existing SATA preferred stock.
The newly issued SATS preferred shares carry a fixed annual dividend of 15%, calculated against their $100 stated value.
Cole also confirmed that Strive will maintain dividend reserves sufficient to cover approximately 18 months of preferred stock payments, reinforcing its approach to managing financial obligations alongside Bitcoin accumulation.
Separately, Strive's traditional warrants expired on October 13. The company had previously projected approximately $369.2 million in gross proceeds from warrant exercises.
Barclays Capital and Cantor Fitzgerald are serving as joint book-running managers for the SATS offering, with Clear Street acting as lead book runner.
With its Bitcoin treasury now exceeding 36,800 BTC and substantial financing expected, Strive remains positioned to pursue further Bitcoin acquisitions as part of its long-term digital asset treasury strategy.
