Strive Buys $109M Bitcoin, SATA Stock Nears $1B Milestone
Key Points
- Strive purchased 1,375 Bitcoin for $109 million at an average price of $79,281 per coin between August 31 and September 4, 2026.
- The company's total Bitcoin holdings now stand at 24,531 BTC, worth approximately $1.9 billion at current prices.
- SATA preferred stock reached $999 million in notional value outstanding, with 70% of last week's capital raised coming from this instrument.
Strive employs a preferred-stock fundraising structure to continuously raise capital for Bitcoin purchases without diluting common shareholders or taking on fixed-schedule debt. The SATA instrument allows the company to sell shares near their $100 face value and funnel proceeds directly into Bitcoin acquisitions while paying preferred holders a steady dividend.
The aggressive accumulation pace puts Strive in direct competition with Twenty One Capital, the Tether-backed firm holding approximately 43,500 BTC as the second-largest public Bitcoin treasury behind Michael Saylor's MicroStrategy. At Strive's current acquisition rate, the gap between the two companies stands at roughly 19,000 BTC—a gap that would require approximately 1,200 BTC per week to close by the end of 2026, a rate Strive has only achieved in its most aggressive recent stretches.
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Strive's strategy follows the playbook pioneered by MicroStrategy in 2020, when Saylor's company began raising capital specifically to purchase and hold Bitcoin. That model has since been adopted by Twenty One Capital and dozens of smaller firms pursuing varying degrees of accumulation aggression.
The preferred-stock structure does carry operational risk. MicroStrategy's comparable instrument, STRC, traded below its $100 face value this year as Bitcoin prices declined, forcing the company to sell Bitcoin for the first time since 2022 to cover dividend payments. SATA has maintained closer to par value through similar market conditions, but the underlying mechanism is identical and remains untested by a downturn as severe as those experienced by MicroStrategy.
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At Strive's current acquisition rate of 21.1% over three weeks, reaching the $1 billion SATA milestone appears imminent, likely within the next 1-2 weeks based on current fundraising velocity. The company's ability to sustain this pace depends on continued investor appetite for 13% fixed dividends and Bitcoin price stability.
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Market Outlook
Strive will likely cross the $1 billion SATA threshold within 1-2 weeks at its current $999 million run rate. If Bitcoin maintains stability above $79,000 and preferred-stock demand persists, the company could continue weekly accumulation at 5%-plus rates through Q4 2026. However, a significant Bitcoin price decline would test SATA's ability to hold par value, potentially forcing asset sales to cover 13% dividend obligations as occurred with MicroStrategy's STRC in 2026.
Sources: Decrypt and other international news outlets.
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