Strive Adds 1,375 BTC to Holdings, Reaching 24,531 BTC

Key Insights:

• Strive purchased Bitcoin for $109 million at an average price of $79,281, lifting its holdings to 24,531 BTC.
• Strive’s holdings have increased 21.1% over the past three weeks and 23% this quarter.
• Strive used SATA preferred share offering to raise capital to fund its BTC purchases.

Strive purchased another 1,375 Bitcoin between Aug. 31 and Sept. 4 for roughly $109 million. The acquisition lifted its treasury to 24,531 BTC.

The company continued using preferred and common equity issuance to expand its Bitcoin position. Chief Executive Officer Matt Cole said SATA supplied 70% of capital raised during the week.

Although Strategy (MSTR) has paused fresh Bitcoin purchases recently, corporate interest in Bitcoin remains intact. Bitcoin Treasury firm Strive, backed by Vivek Ramaswamy, who was in the presidential race with Donald Trump during the 2024 elections, has purchased an additional 1,375 BTC for $109 million.

This is the third consecutive week of purchases, which happened at the $79,281 Bitcoin price. This brought the total Bitcoin holdings to 24,531 BTC. Around 70% of the capital raised by the company last week came through SATA, the company’s preferred share offering, as per the SEC 8-K filing.

Over the past week, Strive has increased its Bitcoin holdings by 5.9%, surging from 23,156 BTC to 24,531 BTC. This marks the third consecutive week in which the company’s Bitcoin holdings have grown by more than 5%.

Over the past three weeks, Strive has increased its Bitcoin holdings by 21.1%, from 20,245 BTC to 24,531 BTC. The company has also increased its BTC holdings by 23% during the quarter.

The growth has been driven primarily by the SATA ATM program, which continues to provide capital for Strive’s Bitcoin accumulation. As per the data from Bitcoin Treasuries, Strive is the fifth largest corporate holder of BTC.

Following the latest Bitcoin purchases, Strive CEO Matt Cole wrote: “70% of the capital raised last week came from $SATA, which now has $999M notional outstanding. Time to break the billion-dollar wall.”

SATA is Strive’s main capital provider and serves as a variable-rate perpetual preferred security designed to trade around its $100 par value. This setup is quite similar to the one adopted by Strategy, for its STRC shares. SATA currently provides an annualized dividend of 13% to its investors.

When SATA trades at or above par, Strive can issue new shares through an at-the-market program. They use this capital to make additional Bitcoin purchases without taking on any additional debt. When the security trades below par, new issuance typically pauses.

The 70/30 funding mix last week is consistent with this model, although common ATM issuance still accounted for a smaller portion of the capital raised. A similar trend was seen during August 24–28, when Strive purchased 1,800 BTC for approximately $143 million and issued around 803,000 SATA shares.

Amid these aggressive Bitcoin purchases coming from Strive, the ASST stock has gained 116% over the past month, and is currently trading at $27. Most of these gains have come just in the last three weeks of trading. Market analysts believe that the Strive stock has a long way to go.

Popular analyst Adam Livingston wrote that ASST stock remains in its early stages and outlined a potential bullish scenario for the stock. Under his scenario, Bitcoin reaches $150,000 by September 2027.

On the other hand, Strive issues $150 million of SATA and $50 million of ASST per month, with zero mNAV expansion. Based on these assumptions, Livingston estimates that ASST could rise 3.08x to $82.53 per share.

This article is for informational purposes only and should not be considered financial or investment advice. Bitcoin and equity markets remain highly volatile. Readers should conduct independent research before making investment decisions.

The post Vivek Ramaswamy’s Strive Buys An Additional 1,375 Bitcoins: What’s Next for ASST Stock? appeared first on The Market Periodical.