Strive raises $85.88 million via stock sales to expand Bitcoin treasury

Strive has significantly expanded its Bitcoin treasury by raising an estimated $85.88 million through the sale of SATA preferred stock over three trading sessions between September 21 and September 23. Analysts estimate these sales provided enough capital to purchase approximately 1,001 Bitcoin.

During this period, Strive’s daily proceeds included $27.69 million on September 21, $36.08 million on September 22, and $22.11 million on September 23. This aggressive capital raising has allowed Strive to outpace the recent buying rate of Strategy, which recently resumed Bitcoin purchases using existing cash reserves rather than new share sales.

While Strategy maintains a much larger total treasury of 846,000 Bitcoin, Strive has seen its Bitcoin per effective common share rise by 14.1% between late August and mid-September. Strategy has recently focused on repurchasing its STRC preferred stock rather than issuing new shares through at-the-market programs.