Strive, Inc. (ASST) acquired 6,182 bitcoin for $511.4 million between October 17 and October 23, according to an SEC filing released on Monday. Strive paid $82,732 per bitcoin on average. Strive now holds 43,000 BTC. Strive's cash and marketable securities increased by $187.7 million to $554.6 million during the same period.
Strive made the purchase one week after closing an expanded initial public offering of SATS, Strive's 15% Perpetual Series A Preferred Stock. Strive sold 7 million shares for $90 apiece, generating gross proceeds of $630 million. Dividends accumulate at 15% of a $100 stated amount. The dividend yield at the offering price is 16.67%. Dividend payments begin November 9 and occur every business day, provided the board declares the payments. Strive initially targeted $500 million for the offering. Demand led Strive to increase the offering by 2 million shares. SATS trades on Nasdaq. Strive reserved $157.5 million for dividends, enough for 18 months of payments on the newly issued shares.
The SEC filing disclosed a new at-the-market program permitting Strive to sell as much as $1 billion of SATS over time. The program's sales agents are Cantor Fitzgerald, Barclays, Clear Street, StoneX, B. Riley Securities, Maxim Group and H.C. Wainwright. The SATS program allows Strive to issue preferred shares when demand supports the price and direct the proceeds toward bitcoin. Strive has said proceeds may finance bitcoin purchases, assets that generate income, working capital, share repurchases or acquisitions.
The SATS structure follows the model Strive developed for SATA, Strive's first preferred stock. SATA has a variable dividend and makes cash payments every business day. Strive established a $500 million at-the-market program for SATA in December 2025. The SATA program absorbed more than a full day's bitcoin mining supply on one day in May.
Strive became publicly traded as a bitcoin treasury company through a reverse merger in 2025. Strive completed an all-stock purchase of Semler Scientific in January, marking the first acquisition of one public bitcoin treasury company by another. Strive held about 7,525 BTC in December 2025. Strive's holdings have since increased to more than five times that level. Strive reported holdings of 36,818 BTC on October 20 following the purchase of 4,045 BTC between October 12 and October 16. Monday's filing increased that reported total by 6,182 BTC.
Strive finances bitcoin purchases with common and preferred equity. Strive has no debt, bonds, credit lines or leveraged positions. Chairman and CEO Matt Cole described the SATS IPO as "a critical milestone in our strategy to maximize long-term total returns for our common equity investors."
Strategy is the largest corporate bitcoin holder, with 848,517 BTC. Strategy proposed paying dividends daily on all five of Strategy's preferred stocks in September.