Strive Bitcoin generated an estimated $55 million during the week beginning October 5 through its SATA preferred stock program, according to market estimates. That amount could purchase approximately 638 BTC at prices near $82,800 per coin during that period.
SATA traded $317 million in total volume during the week, but the company's ability to raise funds depends on the preferred shares trading at or above their $100 par value. SATA traded above par on October 5 and for much of October 6, then remained below par through October 9, which slowed estimated issuance during the period.
How the Funding Mechanism Works
Strive uses an at-the-market (ATM) program to issue SATA shares gradually into public trading. The arrangement avoids timing pressure associated with large financings, but the program cannot issue efficiently when the market price falls below par. Trading volume alone does not guarantee new capital, as shares can trade hands below par without generating proceeds for Bitcoin purchases.
Market trackers estimate proceeds using eligible SATA volume and a capture ratio that reflects how much trading typically converts into newly issued shares. The estimate remains provisional until Strive files its next report disclosing actual Bitcoin acquisitions.
Bitcoin Holdings and Purchase Activity
Strive reported holding 29,462 BTC on October 2 after purchasing 2,000 BTC between September 28 and October 2 at an average price near $84,422 per coin. The company added 8,137 BTC during the third quarter at an average cost of $78,885.
Strive's BTC Yield reached 18.5% quarter-to-date and 63.2% year-to-date as of September 30. The balance sheet carries no debt principal, though SATA preferred shares carry approximately $168 million in annualized dividend obligations.
Comparison With Competitor Strategy
Strategy, a separate Bitcoin Treasury company, took a different approach during the same period. Strategy sold zero STRC shares from September 28 to October 4 but purchased 334 BTC using MSTR common stock, bringing its total holdings to 848,000 BTC. Both companies use equity issuance to fund Bitcoin accumulation, with Strategy relying on common stock where Strive uses preferred shares.
