TLDR
- Strive acquired $162 million worth of Bitcoin, purchasing 1,567 BTC at an average price of $103,315.
- This acquisition increases Strive’s total Bitcoin holdings to 7,525 BTC, surpassing Galaxy Digital’s 6,894 BTC.
- Strive now ranks among the top 15 global corporate Bitcoin holders, moving ahead of Galaxy Digital.
- The Bitcoin purchase was funded through Strive’s oversubscribed IPO of SATA preferred stock at $80 per share.
- Strive’s non-dilutive Bitcoin accumulation model, known as the “Bitcoin amplification toggle,” allows for future BTC purchases.
Strive, a Bitcoin treasury and asset management firm founded by Vivek Ramaswamy, has made a $162 million Bitcoin purchase. This purchase of 1,567 BTC at an average price of $103,315 boosts Strive’s total holdings to 7,525 BTC. As a result, Strive surpasses Galaxy Digital’s 6,894 BTC holdings, becoming one of the top 15 global corporate Bitcoin holders.
Strive’s Growing Bitcoin Holdings
Strive’s latest acquisition positions it ahead of Galaxy Digital, which was previously a major corporate Bitcoin holder. The firm now ranks directly behind GD Culture Group. This growth reflects Strive’s rapid entry into the Bitcoin treasury space.
Strive’s CEO, Matt Cole, described the IPO and acquisition as a defining moment for the company.
He stated, “We have shown the speed and precision to create long-term value with Bitcoin as our hurdle rate.”
Strive’s strategy centers around building exposure to Bitcoin while preserving shareholder value in its ASST common stock.
Bitcoin Purchase Funded Through SATA IPO
Strive funded its recent Bitcoin acquisition through an oversubscribed IPO of its SATA preferred stock. The SATA shares were listed on Nasdaq at $80 per share. The proceeds from this IPO will primarily support further Bitcoin accumulation through a non-dilutive model known as the “Bitcoin amplification toggle.”
The company’s approach with SATA allows it to increase Bitcoin exposure without diluting common stock. This non-dilutive strategy enables Strive to build Bitcoin holdings while protecting shareholder value.
“This is the first time a BTC treasury firm has financed accumulation exclusively through perpetual preferred equity,” Cole added.
SATA Structure and Dividend Strategy
Strive’s SATA shares offer a 12% variable monthly dividend. These dividends are classified as Return of Capital (ROC), which may provide potential after-tax benefits. The company plans to manage the dividend rate to keep SATA shares trading between $95 and $105 per share.
Ben Werkman, Strive’s Chief Investment Officer, described SATA as a hybrid of traditional fixed-income and Bitcoin capital efficiency. Jeff Walton, Chief Risk Officer, highlighted BTC’s liquidity and transparency as key factors in the firm’s strategy. Strive’s disciplined yield strategy reflects its confidence in Bitcoin’s performance.
Strive’s Bitcoin accumulation strategy aligns with moves made by other institutional investors like Tesla and CleanSpark. These firms have also increased their exposure to Bitcoin recently. This trend reinforces Strive’s position as one of the fastest-growing Bitcoin treasury companies in the industry.
