Vivek Ramaswamy-backed Strive has moved ahead of Elon Musk’s Tesla in Bitcoin holdings after adding 179 Bitcoin to its treasury.
According to a Wednesday announcement, Strive now holds roughly 13,311 Bitcoin valued at nearly $940 million. Tesla, by comparison, has kept its holdings steady at 11,509 BTC since late 2024.
The new total makes Strive the 11th-largest corporate Bitcoin holder, just behind CleanSpark, which recently offloaded 150 BTC.
In addition to its BTC treasury update, Strive unveiled a series of updates designed to strengthen its preferred stock offering. The firm increased the dividend rate on its SATA preferred shares by 25 basis points to 12.75%, and declared a quarterly payout of $1.0625 per share.
The company also narrowed the targeted trading range for SATA to $99-$101, down from a previous band of $95-$105, and committed to avoiding the issuance of new shares through at-the-market or follow-on offerings below the $100 threshold.
These moves reflect management’s intent to reduce volatility and improve perceived credit quality for income-focused investors in the digital asset space.
Strive also announced it had deployed $50 million to acquire 500,000 shares of Strategy Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).
Jeff Walton, Chief Risk Officer of Strive, noted that incorporating STRC allows Strive to leverage its attractive risk-return characteristics, improve capital efficiency, and bolster financial resilience, all while continuing a disciplined strategy for managing short- and medium-term capital.
The purchase extends the company’s dividend reserve runway for SATA to 18 months, comprising 12 months of cash and cash equivalents plus an additional six months covered by STRC holdings at current market prices.
Management noted that aggregate reserves across Bitcoin, STRC, and cash now cover more than 19 years of SATA interest payments as of March 9, 2026.
“We believe Digital Credit could be a multi-trillion-dollar opportunity, and every single update today aims to improve the credit quality and lower the expected volatility profile of our Digital Credit product, SATA,” said Strive CEO Matthew Cole.