Strive, Inc. acquired 6,182 bitcoin for $511.4 million between October 17 and 23, lifting its total corporate holdings to 43,000 BTC. The bitcoin treasury company funded the purchase through proceeds from a preferred stock offering, adding to its position as one of the largest corporate holders of the asset.
The acquisition price averaged $82,732 per bitcoin. Strive held 36,818 BTC as of October 20, according to filings, before the full purchase window closed. Earlier in the month, between October 12 and 16, Strive had purchased an additional 4,045 BTC.
Matt Cole, Chairman and CEO of Strive, characterized the move as “a critical milestone in our strategy to maximize long-term total returns for our common equity investors.”
Preferred Stock Financing
Strive funded the purchases through a preferred stock offering of its SATS vehicle. The company sold 7 million SATS shares at $90 per share, generating $630 million in gross proceeds. The offering was upsized from an initial $500 million target in response to demand.
SATS carries a 15% annual dividend rate, or 16.67% yield at the issue price. Each share has a stated amount of $100. Strive set aside $157.5 million as a dividend reserve, covering 18 months of payments. Dividend distributions on SATS begin November 9 and occur on each business day.
During the purchase period, Strive’s cash and marketable securities rose by $187.7 million, reaching $554.6 million total after the period ended.
Treasury Strategy and Prior Moves
Strive went public as a bitcoin treasury company in 2025 through a reverse merger. The company carries no debt and funds acquisitions through common and preferred equity.
In January 2026, Strive completed an all-stock acquisition of Semler Scientific, marking the first instance of one public bitcoin treasury company purchasing another. Strive’s bitcoin holdings stood near 7,525 BTC in December 2025, before the recent acquisitions.
Strive established a $500 million ATM (at-the-market offering) for its SATA vehicle in December 2025. The company has since set up a $1 billion ATM program for SATS.
Strategy, the largest corporate bitcoin holder, owns 848,517 BTC and proposed daily dividends across five preferred stocks in September 2026.
