Strive reportedly targets 500 Bitcoin purchase this week funded by preferred stock sales

Strive Inc., the Nasdaq-listed firm co-founded by Vivek Ramaswamy, is planning to acquire 500 Bitcoin this week, funded through sales of its Variable Rate Series A Perpetual Preferred Stock, known by its ticker SATA. The purchase would add to what has already become one of the most aggressive corporate Bitcoin accumulation campaigns on public markets.

The company has built its Bitcoin war chest almost entirely through a financial instrument most retail investors have never heard of: a preferred stock that trades near its $100 par value and pays a 13% annual dividend, distributed daily on business days.

How Strive built a 24,000 BTC treasury in about a year

As of September 8, 2026, Strive’s total Bitcoin holdings stood at 24,531 BTC. The company’s most recent disclosed purchase added 1,375 BTC for approximately $109 million, working out to an average price of roughly $79,281 per coin.

Strive managed to amass over 24,000 BTC in roughly one year. A significant chunk of that total, around 5,000 BTC, came through Strive’s merger with Semler Scientific, but the rest has been ground out through a disciplined weekly buying program.

Roughly 70% of the capital deployed for Bitcoin purchases has come from SATA preferred stock sales. The SATA notional outstanding reached approximately $999 million as of early September 2026, meaning the company has nearly hit the billion-dollar mark in preferred stock issuance alone.

CEO Matt Cole has described the company’s approach as buying Bitcoin “hand over fist.”

The SATA mechanism: turning dividends into digital gold

Investors buy preferred shares at $100 a pop, collect a 13% annual yield paid out daily, and Strive takes the proceeds and converts them into Bitcoin. At a 13% annual payout on nearly $1B in outstanding preferred stock, the company is on the hook for roughly $130 million per year in dividends.

The structure also solves a problem that has plagued other corporate Bitcoin buyers. Companies like MicroStrategy pioneered the convertible debt approach to funding Bitcoin purchases, but convertible notes come with maturity dates and conversion mechanics that can create pressure at inopportune moments. Perpetual preferred stock, by contrast, has no maturity date. Strive never has to pay the principal back, it just has to keep meeting dividend payments.

Where Strive fits in the corporate Bitcoin landscape

The corporate Bitcoin treasury trend has evolved considerably since MicroStrategy first started buying in 2020. Strive’s 24,531 BTC position places it firmly among the largest corporate holders.

Rather than making splashy one-time buys, Strive has settled into a pattern of consistent weekly accumulation. The key risk remains concentration. Strive has effectively become a leveraged Bitcoin vehicle wrapped in a corporate shell. If Bitcoin enters a prolonged downturn, the company would still owe 13% annual dividends on nearly $1B in preferred stock while sitting on a depreciating asset.

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