Strive Buys More Bitcoin Despite Strategy's Buyback Strategy

Strive acquired 1,375 Bitcoin between August 31 and September 4 for about $109 million at an average price of $79,281 per coin. This purchase lifted its total Bitcoin holdings to 24,531 BTC.

The company uses variable-rate perpetual preferred stock, called SATA, to fund its Bitcoin strategy. Strive's CEO Matt Cole described SATA as the first listed U.S. security to make daily payments with a cash dividend at an annualized rate of 13.00%. The stated face value of the shares issued reached $999 million.

SATA provides most of the capital for Strive's Bitcoin purchases, with common stock sales accounting for the smaller share. This funding structure allows Strive to continue raising money for Bitcoin despite its recent losses on previous purchases.