Strive, Inc. expands Bitcoin treasury via preferred stock program

Strive, Inc., an asset management firm trading on NASDAQ under the ticker ASST, is aggressively expanding its Bitcoin treasury through an equity-based financing model. Between August 17 and 21, the company acquired 1,110 Bitcoin at an average cost of approximately $73,409 per coin, increasing its total holdings from 20,246 BTC to 21,356 BTC.

Unlike other corporations that utilize convertible notes or debt to fund acquisitions, Strive utilizes its Variable Rate Series A Perpetual Preferred Stock (SATA). This at-the-market (ATM) program allows the company to issue preferred shares to investors, who receive an annualized dividend yield of approximately 13%. The proceeds are then immediately converted into Bitcoin.

While the company's Bitcoin holdings increased by 5.5% during the August 17–21 period, the Bitcoin per assumed diluted share grew by only 1.3%, rising from 22,671 to 22,976 Satoshis. This discrepancy is due to the simultaneous increase in the company's share base, which grew from approximately 89.3 million to 92.9 million assumed diluted shares.