Strive Continues Nine-Day Streak of Bitcoin Buys Amid Fading Sector Demand

Strive's SATA funds nine straight days of Bitcoin buys as sector demand fades. According to BitcoinTreasuries.NET, Strive's preferred stock has raised enough money to fund Bitcoin purchases for nine consecutive days. This is a notable trend in the current market where corporate balance sheets have become essential for Bitcoin demand, but the number of buyers has sharply decreased.

The company's latest purchase was 104 BTC on Tuesday, with its total holdings increasing from 21,356 BTC to 23,156 BTC. This acquisition raised Strive's position to fifth place among the largest public holders of Bitcoin. TD Cowen has increased its price target for ASST from $28 to $32 and expects Strive to reach nearly 4,300 BTC in acquisitions for the third quarter.

The funding behind this streak comes from the issuance of SATA, a variable rate series A perpetual preferred stock traded at Nasdaq, which pays dividends every business day. This structure is the driving force behind Strive's strategy, as it enables them to raise permanent capital without diluting common shares or incurring debt refinancing risks.

However, the same reflexivity that powers this strategy can work in reverse, and Cipolaro warned about abrupt halts in market confidence. Galaxy documented drawdowns exceeding 98% at Nakamoto and steep losses across DAT equities as premiums turned into discounts.