TLDR
- Strive bought 1,375 BTC for $109 million, bringing total holdings to 24,531 BTC worth around $1.96 billion.
- SATA, Strive’s preferred stock, is approaching $1 billion in market cap, trading at its $100 par value.
- SATA’s 13% annualised dividend helped it account for 70% of capital raised last week.
- ASST stock has more than doubled in the past month and is up 56% year-to-date, though still 90% below its record high.
- Strategy’s STRC preferred stock continues to trade below par at around $98, while MSTR remains down 12% this year.
Strive has been on a buying spree. The Bitcoin treasury firm picked up another 1,375 BTC last week at an average price of $79,281 per coin, spending $109 million in total.
Strive acquired an additional 1,375 BTC for $109M at an average cost of $79,281 per bitcoin, bringing total holdings to ₿24,531.
70% of the capital raised last week came from $SATA, which now has $999M notional outstanding.
Time to break the billion-dollar wall.$ASST $SATA pic.twitter.com/qjjykekHTk
— Matt Cole (@ColeMacro) September 8, 2026
That brings Strive’s total holdings to 24,531 BTC, now worth roughly $1.96 billion. The firm also bumped its cash and cash equivalents up to $202,600.
ASST stock has more than doubled over the past month and is up 56% year-to-date. It recently hit a YTD high above $27. The stock is down around 2% to 3% on the day of the announcement, dipping below $27 as Bitcoin pulled back from above $82,000.
Despite the strong recent run, ASST remains about 90% below the record high it reached roughly one year ago.
This latest purchase follows a 1,800 BTC buy two weeks earlier, which pushed Strive into fifth place among Bitcoin treasury firms. It now sits just behind Strategy, Twenty One Capital, Metaplanet, and MARA Holdings.
CEO Matt Cole has said he wants to acquire over 20,000 BTC before year-end, with ambitions to eventually become the second-largest Bitcoin treasury firm behind Strategy.
SATA Drives Capital Raises
Cole confirmed that 70% of last week’s capital raise came from SATA, Strive’s perpetual preferred stock. The other 30% came from common stock sales.
SATA now has $999 million in notional outstanding, sitting just under the $1 billion mark. It offers daily dividends at a 13% annualised rate and continues to trade at or near its $100 par value.
That par stability is important. It lets Strive run at-the-market offerings without the discount pressure that comes when preferred stock trades below par.
Strategy’s STRC Struggles to Keep Up
Strategy, by comparison, is having a tougher time with its own preferred stock. STRC, which carries a 12% yield, is trading at around $98 and has not returned to its $100 par value since mid-May.
Last week, Strategy repurchased $176 million of STRC and doubled its authorized buyback program from $1 billion to $2 billion. It funded those repurchases with cash rather than issuing new stock, bringing its USD cash balance down to $1.438 billion.
Strategy made no changes to its Bitcoin holdings, which remain at 845,050 BTC.
MSTR stock is down 12% year-to-date, while ASST has outperformed over the same stretch. SATA trading at par versus STRC’s persistent discount to par has been a key factor in Strive’s ability to raise fresh capital more efficiently.
STRC has not traded back at $100 since mid-May.
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