Strive Expands Bitcoin Treasury to 21,356 BTC with SATA Preferred Stock Program
Strive, an asset management firm led by Vivek Ramaswamy, has expanded its Bitcoin treasury to 21,356 BTC after raising funds via SATA Preferred Stock. This marks a significant increase in the company's holdings, following its initial purchase of 1,110 BTC last week.
The firm's strategy involves using an at-the-market (ATM) share sale program tied to SATA, which allows it to issue new shares and use the premium proceeds to buy additional Bitcoin. This approach enables Strive to accumulate Bitcoin without taking on traditional debt, effectively leveraging investor demand for the preferred stock to fund its treasury expansion.
Strive views Bitcoin as a long-term store of value and a hedge against inflation, mirroring the growing trend among companies adopting Bitcoin as part of their investment strategy. The perpetual nature of SATA means there is no mandatory redemption date, giving Strive ongoing access to capital as long as the stock trades at a premium.
While this strategy may appeal to investors seeking exposure to Bitcoin without directly holding the asset, it also carries risks if SATA trades below par, limiting further Bitcoin purchases. Nevertheless, Strive's commitment to a Bitcoin-centric treasury strategy is likely to attract continued attention from both crypto and traditional finance observers.