Strive Inc., the Nasdaq-listed firm co-founded by Vivek Ramaswamy, is planning to acquire 500 Bitcoin this week, funded through sales of its Variable Rate Series A Perpetual Preferred Stock, ticker SATA. The purchase would add to what has become one of the most aggressive corporate Bitcoin accumulation campaigns on public markets.
As of September 8, 2026, Strive's total Bitcoin holdings stood at 24,531 BTC. The company's most recent disclosed purchase added 1,375 BTC for approximately $109 million, or roughly $79,281 per coin.
Building Treasury Through Preferred Stock
Strive has funded its Bitcoin acquisitions primarily through SATA, a preferred stock that trades near its $100 par value and pays a 13% annual dividend distributed daily on business days. Approximately 70% of the capital deployed for Bitcoin purchases has come from SATA sales, with the notional outstanding reaching approximately $999 million as of early September 2026.
Investors purchase preferred shares at $100, collect the 13% annual yield paid daily, and Strive uses the proceeds to acquire Bitcoin. At the current dividend rate on nearly $1 billion in outstanding preferred stock, the company faces roughly $130 million in annual dividend obligations.
Advantages Over Traditional Debt Funding
The perpetual preferred stock structure addresses challenges faced by other corporate Bitcoin buyers. Companies like MicroStrategy pioneered convertible debt for Bitcoin purchases, but convertible notes carry maturity dates and conversion mechanics that create pressure at inopportune times. Perpetual preferred stock has no maturity date, meaning Strive never repays the principal—only the ongoing dividend payments.
Position in Corporate Bitcoin Market
Strive's 24,531 BTC holding places it among the largest corporate Bitcoin holders. The company accumulated over 24,000 BTC in roughly one year through a disciplined weekly buying program, with approximately 5,000 BTC coming from its merger with Semler Scientific.
Unlike one-time large purchases, Strive has pursued consistent weekly accumulation. The company's exposure creates concentration risk, as it has effectively become a leveraged Bitcoin vehicle. If Bitcoin enters a prolonged downturn, Strive would still owe 13% annual dividends on nearly $1 billion in preferred stock while holding a depreciating asset.
