Overview
- Independent tracker BitcoinTreasuries.net estimates Strive sold SATA preferred shares from Sept. 21–23 that generated about $85.88 million in net proceeds, which would have buying power for roughly 1,002 BTC at contemporaneous prices.
- That $85.88 million figure is a modelled estimate based on SATA trading volume and has not been confirmed as a company purchase in any Strive SEC filing.
- Strive’s most recent confirmed disclosure covered Sept. 14–18 and showed it bought 1,355 BTC, bringing its reported treasury to 26,355 BTC and raising cash via warrant exercises and earlier SATA sales.
- SATA is a $100-par perpetual preferred that lets Strive issue shares through an at-the-market program when the stock trades at or above par, a mechanism that raises cash but creates ongoing dividend costs and potential dilution for common shareholders.
- Competitor Strategy took a different path in the same period by buying 950 BTC in the week ending Sept. 20 and using cash to repurchase $174 million of its STRC preferred stock, illustrating divergent funding choices and leaving markets waiting on Strive’s next filing to confirm how the new proceeds were deployed.