Strive Raises $100M Through Preferred Equity to Fuel Aggressive Bitcoin Buying Spree

Strive, a Bitcoin treasury company listed on NASDAQ under the ticker ASST, has raised $100 million through its preferred equity instrument in just seven days. The capital raise is fueling an aggressive Bitcoin buying spree that has vaulted Strive into the upper ranks of public company Bitcoin holders.

The company's total Bitcoin stash now sits at 21,356 BTC, making it the seventh-largest public holder of the asset. This is a remarkably fast climb up the leaderboard for a company that only completed its merger and went public in 2025.

Strive's Variable Rate Series A Perpetual Preferred Stock (SATA) played a crucial role in this capital raise. This instrument pays a variable dividend of 13% on a daily basis, making it attractive as a yield-generating product. When SATA trades at or above par, Strive can issue new shares through its at-the-market program without diluting value.

The company's debt-free balance sheet is another key factor in its ability to fund acquisitions entirely through equity issuance. Unlike companies that lever up to buy Bitcoin, Strive is avoiding the risks associated with debt and forced selling.