Strive Loads up on 1,375 Bitcoin as ASST Jumps 114% in 30 Days

Strive Adds 1,375 Bitcoin as Treasury Climbs to Fifth Largest

According to the SEC Form 8-K submitted by Strive, the firm’s corporate bitcoin treasury now stands at 24,531 BTC. Strive has gravitated to the fifth-largest bitcoin treasury company by holdings. The business disclosed that it purchased 1,375 bitcoin between Aug. 31 and Sept. 4 and spent around $109 million for the coins. The 8-K notes that Strive paid around $79,281 per unit for the newly acquired cache.

CEO Matt Cole remarked on the social media platform X that capital raised during the week came from sales of Variable Rate Series A Perpetual Preferred Stock, known as SATA. “70% of the capital raised last week came from SATA, which now has $999M notional outstanding. Time to break the billion-dollar wall,” Cole wrote on X Tuesday morning.

SATA is very similar to Strategy’s preferred stock, STRC or Stretch. It is one of Strive’s financing engines that allows it to accumulate more BTC. SATA pays a 13% annualized dividend in cash every business day, and it aims to trade near par; when it trades above, management is allowed to issue shares through an at-the-market (ATM) program.

ASST Rips 114% in 30 Days as Saylor Cheers Strive’s Bitcoin Bet

Unlike other digital asset treasury (DAT) companies, Strive’s common stock ASST has performed well. Over the last five days, ASST has jumped 6.4%, but over the last 30 days, shares have surged by 114%. In mid-August, ASST shares ripped higher as bitcoin buying accelerated and SATA volume increased. After Cole’s statement on X, Strategy founder Michael Saylor responded with a reply that said “₿1,375” featuring a rocket emoji.

Another proponent added:

Superb performance. Keep building.