Strive's SATA preferred stock raised an estimated $55 million in the week of October 5, 2026, providing enough capital to purchase approximately 638 bitcoin. The figure comes from a weekly dashboard tracking volume traded at or above the $100 par value, with estimates calibrated against past Securities and Exchange Commission filings.
The estimated proceeds align with bitcoin's price near $82,800 on Friday, when 638 BTC was worth roughly $53 million. The shares traded above par value on Monday, October 5, and for most of Tuesday, October 6, but fell below par from Wednesday through Friday.
How the Program Works
Strive uses an at-the-market (ATM) program, which allows the company to sell new shares into the open market gradually rather than through a single large offering. The program includes a built-in mechanism: when shares trade below par value, new issuance pauses to prevent dilution of the offering's own promise.
This structure mirrors the model created by Michael Saylor's Strategy, which uses STRC, its variable-rate perpetual preferred stock. Strategy's latest filings show it sold zero STRC shares from September 28 through October 4, instead funding a 334 bitcoin purchase with common stock sales during that period.
Strive's Current Position
According to Strive's October 5 filing, the company held 29,462 bitcoin as of October 2. Between September 28 and October 2, Strive purchased 2,000 bitcoin at an average price of approximately $84,422. In the third quarter, the company added 8,137 bitcoin at an average cost of $78,885.
The company reported zero debt principal but carries approximately $168 million in annualized SATA dividend obligations. This dividend commitment represents the trade-off of the preferred stock model: each SATA share sold funds bitcoin purchases today while creating dividend obligations tomorrow.
