Strive funds SATA equity to buy 2,500 BTC, treasury hits 19,000 BTC
Strive (NASDAQ: STRV) added about 2,500 BTC between May 23 and June 1, funded mostly by its SATA preferred stock program. The company raised roughly $175.4M via 1,754,188 SATA shares, with the remainder from ATM issuance of Class A common stock, lifting total Strive BTC holdings to 19,000 BTC.
Average buy cost was about $74,092 per BTC, lower than a prior purchase, helped by buying during periods when BTC traded near or below $71,000. Despite spending around $185M on BTC, Strive increased cash and equivalents from $93.3M to $137.3M, targeting an ~18-month dividend reserve for SATA holders.
CEO Matt Cole pointed to strong BTC yield metrics (quarter-to-date 23.0%, year-to-date 36.7%) and said Strive plans to expand ATM equity programs by an additional $2.1B each for Class A and SATA. Strive also plans to shift SATA dividends from monthly to daily starting June 16, aiming to smooth timing around ex-dividend dates.
For BTC traders, this reinforces steady corporate BTC treasury demand tied to SATA issuance, including recent buying at lower levels. The daily dividend feature and future ATM scaling can support sentiment, but the incremental cash obligation makes flow durability more sensitive to investor appetite.
Bullish
Strive’s latest SEC-backed disclosure shows ongoing, large-scale BTC treasury accumulation financed primarily through SATA preferred equity and expanded ATM programs. Buying ~2,500 BTC and raising holdings to 19,000 BTC supports the idea of steady corporate demand, especially since parts of the buys occurred at lower BTC prices. While shifting SATA dividends to daily payments may affect cash dynamics, Strive also increased its cash buffer to maintain a ~18-month dividend reserve, which should reduce near-term flow disruption. Net-net, this creates a constructive backdrop for BTC price via predictable treasury flow mechanics, even if it’s not a guaranteed catalyst for a single-day move.