Strive Surpasses $999M in SATA Balance, Aims for No. 2 Spot in Public Company Bitcoin Holdings
Strive's Bitcoin holdings continue to grow as it purchased an additional 1,375 BTC for approximately $109 million. This brings its total holdings to 24,531 BTC and increases its SATA balance to nearly $1 billion.
The company's Chief Executive Officer, Matt Cole, wrote on X that 70% of the funds raised this week came from sales of SATA perpetual preferred stock. The SATA balance has reached $999 million, with total shares outstanding nearing 10 million after an increase of 921,511 shares.
Strive is aiming to climb to No. 2 among public companies in Bitcoin holdings and is on track to overtake Twenty One Capital by year-end. According to estimates, the company would need to buy roughly 1,200 BTC per week for the next 16 weeks to achieve this goal. However, CEO Cole stated that this was not the base-case scenario and that the company could raise as much as $1.4 billion more through unexercised warrants.