Bitcoin
Strive Estimates $55 Million Raised for Bitcoin Purchases via Preferred Stock Sales
Capital raised through an at-the-market offering of preferred shares could allow the firm to acquire roughly 638 Bitcoin.
Strive generated an estimated $55 million through its SATA preferred stock offering during the week of October 5, providing capital capable of buying approximately 638 Bitcoin at prevailing rates. Bitcoin traded around $82,800 on Friday, placing the value of that allocation near $53 million. As of October 2, Strive held 29,462 BTC after acquiring 2,000 BTC between September 28 and October 2 at an average price near $84,422, with its quarter-to-date BTC yield reaching 18.5%.
The company relies on an at-the-market program to issue shares directly into the market, but issuance is contingent on SATA trading at or above its $100 par value. Although total trading volume reached $317 million during the week, the stock traded above par on October 5 and part of October 6 before falling below that threshold through October 9, which slowed estimated issuance.
The report notes that high trading volume alone does not translate into treasury funding when shares trade below par value, as selling beneath $100 dilutes yields and impairs program economics. The exact cash added to Strive's Bitcoin treasury will be confirmed in its upcoming regulatory filings. Meanwhile, Strategy sold zero STRC shares between September 28 and October 4 while purchasing 334 BTC through MSTR common stock, bringing its total reserves to 848,000 BTC.
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