- Strive, a digital asset-focused asset manager, acquired 6,182 BTC at an average price of $82,732 per coin, spending approximately $511.4 million.
- Total holdings rose to 43,000 BTC, valued at roughly $3.5 billion, a 16.8% increase from the prior balance.
- The purchase was financed around the time Strive closed a $630 million preferred stock offering.
- Strive also filed a $1 billion at-the-market SATS preferred stock program, authorising future share sales through seven agents including Cantor Fitzgerald and Barclays.
Digital asset focused asset management company Strive bought 6,182 Bitcoins for around $511.4 million at an average price of $82,732 each, according to data originally published by on-chain analytics firm Lookonchain.
Strive acquired 6,182 $BTC for $511.4M at an average cost of $82,732 per bitcoin, bringing total holdings to ₿43,000.
– Cash and marketable securities increased by $187.7M to $554.6M.
– Established a $1B $SATS ATM program.$ASST $SATA $SATS https://t.co/pKtqVmFobL
— Matt Cole (@ColeMacro) October 26, 2026
This brought Strive’s total holdings to 43,000 BTC worth around $3.5 billion at current prices. This is an increase of 16.8% in their Bitcoin holdings.
Preferred Stock Offering Finances The Buy
The purchase coincided with the closing of a $630 million preferred stock offering by Strive. The company targets corporate clients and institutional investors with Bitcoin and digital asset strategies, positioning itself as a treasury-style vehicle for institutional Bitcoin accumulation in the mould of Strategy (formerly MicroStrategy), though with a different investor base and capital structure.
Strive Files $1B SATS At-the-market Program
Strive also established a separate at-the-market program on October 26, filing a prospectus supplement that allows it to sell up to $1 billion of its 15.00% Series A Perpetual SATS Preferred Stock over time.
The program is an authorisation for future sales rather than cash already raised. Strive has no obligation to sell shares under it and can suspend or terminate the program at any time.
How The SATS Program Works
Seven sales agents can conduct transactions under the program, including Cantor Fitzgerald and Barclays, alongside Clear Street, StoneX, B. Riley Securities, Maxim Group, and H.C. Wainwright. Agents may earn a commission of up to 2% of gross proceeds, and none are required to sell any specific amount. Shares can be sold on Nasdaq or through other channels at prevailing market prices.
SATS pays a cumulative 15% annual dividend on a $100 stated amount, which is also its floor liquidation preference. The stock last traded at $94.88 on October 23 according to the prospectus. If Strive sold the full $1 billion at $100 a share, 17 million SATS shares would be outstanding, up from 7 million currently.
Use Of Proceeds & First Dividend
Strive said in the prospectus it intends to use net proceeds for general corporate purposes, including the acquisition of Bitcoin and bitcoin-related products, working capital, income-generating assets, buybacks of its Class A common stock or SATA preferred shares, and preferred dividends.
No specific amount was allocated to any single use. The board has declared a first SATS dividend of $0.8710 per share, payable November 9 to holders of record on November 6.
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