Strive, the asset manager backed by Vivek Ramaswamy, has significantly increased its bitcoin treasury after purchasing 1,567 BTC at an average price of $103,315 per coin. As of Nov. 10, 2025, the company said its total holdings had reached 7,525 BTC, giving it a bitcoin treasury valued at about $777 million based on the figures cited in the report.
The latest purchase comes as Strive pushes an increasingly aggressive capital strategy centered on bitcoin accumulation. Rather than relying on traditional common-share issuance, the company is using a newly listed preferred equity instrument to expand its exposure to the asset while seeking to avoid dilution for existing shareholders.
SATA Launch Marks a New Funding Route
At the center of the strategy is SATA, Strive’s Nasdaq-listed variable-rate perpetual preferred stock. According to the filing referenced in the source material, the product is designed specifically to finance additional bitcoin purchases through what the company describes as a non-dilutive mechanism. In practical terms, Strive is attempting to create a capital structure that can support further treasury growth without issuing more common shares.
Investor demand appeared strong even after bitcoin briefly fell below $100,000 the previous week. That appetite led Strive to increase the size of the initial public offering from 1.25 million shares to 2 million shares. The preferred shares were priced at $80 each and began trading under the ticker “SATA”, signaling that the market was willing to back the firm’s bitcoin-centered financing model despite short-term volatility in the underlying asset.
Management Frames the Offering as a Milestone
Chairman and CEO Matt Cole described the offering as a landmark moment for the company. He said the transaction made Strive the first bitcoin treasury company to fund bitcoin accumulation purely through perpetual preferred equity. In his view, that structure demonstrates both speed and precision in execution while aligning capital markets activity with the company’s long-term objective of building shareholder value.
Cole also framed bitcoin as the firm’s key benchmark for value creation, underscoring how central the asset has become to Strive’s corporate identity and financial strategy. The company is not merely holding bitcoin as a reserve asset; it is designing a broader treasury architecture around the assumption that accumulating more BTC can enhance long-term returns.
Yield Structure and Risk Positioning
Strive said SATA carries a variable monthly dividend, initially set at 12%. The company is targeting a long-term trading range of between $95 and $105 per share. These terms suggest the firm is trying to position the preferred stock as both a yield product and a bitcoin-linked capital vehicle.
Chief Investment Officer Ben Werkman characterized SATA as an attractive income opportunity supported by disciplined risk management. Meanwhile, Chief Risk Officer Jeff Walton pointed to bitcoin’s liquidity and transparency as traits that make it suitable for structured yield instruments. That framing is notable because it presents bitcoin not just as a volatile speculative asset, but as a liquid treasury reserve that can underpin more sophisticated financing strategies.
Growing Presence Among Public Bitcoin Holders
With roughly 7,525 BTC under management, Strive now sits among the larger public corporate holders of bitcoin. The company’s approach places it alongside other digital asset treasury firms, including Strategy, which earlier in the year also helped popularize the use of perpetual preferred equity in bitcoin-related financing.
The broader significance of Strive’s move lies in the continued evolution of corporate bitcoin treasury models. Instead of treating bitcoin purchases as one-off allocations, some firms are increasingly building dedicated financing channels to accumulate more of the asset over time. In Strive’s case, SATA represents an attempt to institutionalize that process and turn capital markets access into a repeatable engine for treasury expansion.
The announcement also suggests that Ramaswamy-backed Strive sees no reason to slow its digital reserve strategy. Despite price swings in bitcoin, the company appears committed to scaling its holdings and refining a financing structure tailored to that objective. If investor demand for SATA remains intact, Strive may have established a template for raising capital tied directly to bitcoin accumulation while minimizing common-share dilution.
For now, the headline numbers are clear: 1,567 BTC acquired, 7,525 BTC held in total, and a preferred stock vehicle now trading publicly to support future purchases. Those developments reinforce Strive’s ambition to become a major corporate bitcoin treasury player and highlight how quickly capital-market innovation is becoming part of the digital asset accumulation story.