Strive, Inc. (ASST) acquired 6,182 bitcoin for $511.4 million between October 17 and October 23, paying an average price of $82,732 per bitcoin, according to an SEC filing published Monday. The purchase expanded the company's total bitcoin holdings to 43,000 BTC.
The acquisition came one week after Strive closed an upsized initial public offering of SATS, its 15% Perpetual Series A Preferred Stock. The company sold 7 million shares at $90 each for $630 million in gross proceeds. Dividends accrue at 15% on a $100 stated amount, equating to a 16.67% yield at the issue price, with payments set to begin November 9 on each business day.
Strive originally targeted $500 million for the SATS offering but increased the size by 2 million shares in response to demand. The stock trades on the Nasdaq. The company established a $157.5 million dividend reserve covering 18 months of payments on the new shares.
New At-The-Market Program
The SEC filing disclosed an at-the-market program allowing Strive to sell up to $1 billion of SATS over time. Cantor Fitzgerald, Barclays, Clear Street, StoneX, B. Riley Securities, Maxim Group, and H.C. Wainwright serve as sales agents for the program.
The structure mirrors Strive's existing framework for SATA, its first preferred stock offering, which features a variable dividend and pays cash each business day. Strive established a $500 million ATM for SATA in December 2025.
Growth in Bitcoin Holdings
Strive went public as a bitcoin treasury company in 2025 through a reverse merger and completed an all-stock acquisition of Semler Scientific in January. Holdings stood near 7,525 BTC in December 2025 before expanding significantly.
The company reported 36,818 BTC on October 20 after purchasing 4,045 BTC between October 12 and 16. Cash and marketable securities rose by $187.7 million to $554.6 million over the same period as the recent acquisition.
Strive funds its purchases through common and preferred equity and carries no debt, including no bonds, credit lines, or leveraged positions.
