Strive, the Bitcoin treasury and asset management firm trading on NASDAQ under the ticker ASST, just had its biggest week of Bitcoin buying yet. The company raised enough capital through its Variable Rate Series A Perpetual Preferred Stock, known as SATA, to purchase 790 Bitcoin over the course of the week, with an estimated 250 Bitcoin acquired in a single day.
That 790-coin haul more than doubles its previous weekly record of 371 Bitcoin, set in May 2026.
How SATA works as a Bitcoin acquisition engine
SATA is a perpetual preferred stock, meaning it pays dividends indefinitely and doesn’t have a maturity date like a bond. The net proceeds from selling SATA shares go directly toward purchasing Bitcoin.
Strive manages the SATA stock within a targeted trading range of $99 to $101. The current dividend rate sits at 13.00%, designed to keep demand for the preferred shares strong.
The initial SATA offering, a $149.3 million IPO back in November 2025, funded the purchase of 1,567 Bitcoin. Since then, the firm has expanded its capital-raising infrastructure with a $500 million at-the-market (ATM) program, allocating proceeds consistently toward further Bitcoin acquisitions.
The balance sheet behind the strategy
Strive now holds over 15,000 Bitcoin on its balance sheet. Strive has structured its reserves to cover SATA dividend obligations for an estimated 20 years.
For common equity holders of ASST, every Bitcoin purchased with preferred stock proceeds adds to the firm’s net asset value without diluting their ownership stake.
The risk runs in the other direction if Bitcoin enters a prolonged downturn, as the 13% annual dividend obligations on a growing base of preferred stock require either sustained Bitcoin appreciation or careful treasury management.
The high level of institutional interest in the SATA offering underlines demand for yield-bearing, Bitcoin-backed instruments packaged with regular income.