Key Highlights
- Strive launches a $500M stock-sale program to expand Bitcoin (BTC) holdings and fund corporate growth.
- The company plans to sell Series A, preferred as SATA Stock, gradually on the open market.
- This move solidifies Strive’s Bitcoin-focused strategy, as it currently owns 7,525 BTC, ranking it the 14th-largest corporate Bitcoin holder.
Strive, a publicly listed asset manager known for holding large amounts of Bitcoin, has launched a new stock-sale program that could raise up to $500 million.
According to a press release, the company, co-founded by Vivek Ramaswamy, plans to sell shares of its Series A preferred stock, referred to as SATA Stock, gradually on the open market when conditions are favorable, in line with U.S. securities rules.
Strive intends to use the proceeds for a range of corporate purposes, including adding to its Bitcoin (BTC) reserves, purchasing Bitcoin-related products, supporting working capital, and acquiring income-generating assets.
The company also said the funds may be used for potential acquisitions or debt repayment, to direct capital toward areas that “complement its current business.”
Strive’s Bitcoin strategy
The effort comes as Strive continues to strengthen its position as a major corporate holder of Bitcoin. The firm currently owns 7,525 BTC, making it the 14th-largest corporate BTC holder as per Bitcoin Treasuries data.
In May, Strive took a major step by announcing its merger with Asset Entities to form a new NASDAQ-listed Bitcoin Treasury Company, and in September the company completed a merger. As part of the merger, Strive said it plans to raise up to $1.5 billion through equity and debt to buy more Bitcoin.
The company’s move toward a Bitcoin-focused strategy picked up speed after its reverse merger and agreement in September to acquire Semler Scientific.
In November, Strive announced an initial public offering (IPO) of its new Variable Rate Series A Perpetual Preferred Stock under the ticker $SATA, further supporting its Bitcoin-treasury approach.
According to Yahoo Finance, Strive’s stock rose about 3.6% on the day of the announcement, closing at $1.02. Shares have more than doubled since the start of the year.
The company has also taken a public stance in ongoing market-structure debates. In early December, CEO Matt Cole urged index provider MSCI not to exclude Bitcoin-heavy companies from major equity benchmarks. He argued that the proposed policy would distort market representation and limit investor choice.
