Strive announced on Monday that Strive can sell up to $1 billion of preferred shares through an at-the-market program. The offering covers Strive's 15.00% Series A Perpetual SATS Preferred Stock. Strive is using an existing shelf registration statement that took effect in September 2025.
Strive said the net proceeds will support general corporate purposes, including bitcoin purchases, working capital and other income-generating assets. Strive said potential uses also include repurchasing Class A common shares or Strive's separate SATA preferred stock. Strive said the funds may finance acquisitions that complement Strive's existing business. Strive also identified dividends on outstanding preferred shares and repayment of future debt as possible uses.
Strategy disclosed in an October 26 filing that Strategy spent $204.9 million to repurchase 2,068,459 STRC preferred shares last week. Strategy purchased no additional bitcoin during the week. Strategy also sold no common shares through Strategy's at-the-market program. Strategy's bitcoin holdings stayed at 848,517 BTC, purchased for roughly $64.02 billion at an average of $75,446 per coin.
Strategy paid for the STRC repurchases from Strategy's USD Cash balance. The USD Cash balance is separate from Strategy's USD Reserve, which is intended to fund preferred stock dividends and interest on debt. Strategy's remaining authorization for preferred stock repurchases stood at $956.8 million. Strategy retained $1 billion of authorization to repurchase MSTR common shares. Strategy's USD Reserve stood at $4.83 billion. Strategy's separate USD Cash balance stood at $242.4 million.
The filing did not specify when Strategy might restart bitcoin purchases. Strategy's pause represents a departure from Strategy's usual weekly purchases toward prioritizing preferred stock repurchases. Both companies continue developing capital structures centered on bitcoin exposure. However, Strive is expanding fundraising capacity for purposes including bitcoin purchases, while Strategy is directing available cash toward preferred stock repurchases rather than additional bitcoin.
MSTR declined 5% on Monday. MSTR opened at $141.67 and reached a low of $137.32. MSTR traded below the exponential moving averages for 20, 50 and 200 days. ASST declined 6.5% on Monday after retreating from an intraday high of $27.83. ASST remained above the exponential moving averages for 50, 100 and 200 days.