Strive raises funds for 104 Bitcoin purchases over 9 days using preferred stock program

Strive, Inc. has generated enough capital through its preferred stock program to purchase 104 Bitcoin over a nine-day stretch, continuing one of the more methodical institutional accumulation strategies in the market right now. The company’s Variable Rate Series A Perpetual Preferred Stock, ticker SATA, has become the engine behind a Bitcoin treasury that now exceeds 23,000 BTC. Strive isn’t selling common shares, issuing debt, or conducting buybacks to fund these purchases. It’s running the whole operation through a single preferred equity instrument. How the SATA machine works Strive authorized the at-the-market (ATM) program in December 2025 with a ceiling of $500 million. The preferred shares carry a par value of $100 and pay a variable annualized dividend of roughly 13%, which shifted to daily payouts as of June 2026. When SATA trades near or above its par value, Strive activates its ATM facility and sells new preferred shares into the market. The proceeds go directly toward buying Bitcoin. When conditions aren’t favorable for existing preferred holders, the company simply doesn’t sell. Between August 24 and August 28, 2026, Strive completed its most aggressive single acquisit...