Strive Buys 1,800 BTC for $143 Million as Preferred Stock Program Accelerates
Strive, Inc., trading on the Nasdaq under ticker ASST, has been buying Bitcoin at scale using proceeds from its Variable Rate Series A Perpetual Preferred Stock. The company's preferred stock instrument, listed as SATA, issues new shares when traded above $100 par value and immediately converts that capital into Bitcoin, keeping its balance sheet clean.
The most significant purchase in recent memory occurred during the week of August 24-28, 2026, when Strive acquired 1,800 BTC for $143 million, averaging roughly $79,431 per coin. Approximately $80.3 million came directly from the SATA program, which has been steadily deployed capital since its launch with Strive's IPO in November 2025.
The SATA program is authorized up to $500 million and carries an annualized dividend rate of approximately 13%. In June 2026, Strive made SATA even more distinctive by switching to daily dividend payments, making it the first U.S.-listed security to pay dividends on every business day. CEO Matt Cole has framed Bitcoin as a core element of Strive's capital allocation strategy, not a speculative side bet but a deliberate treasury position.
The structure of the SATA program reflects that conviction, providing non-dilutive capital for Strive to deploy directly into Bitcoin without taking on debt or margin-call risk. If the instrument trades below par, the buying stops automatically due to value-destructive issuance of shares below par.