Key Takeaways
- Between September 21 and 23, Strive generated approximately $85.88 million from SATA preferred stock sales across three trading sessions.
- According to BitcoinTreasuries.net estimates, these proceeds could fund the acquisition of around 1,002 Bitcoin.
- During the week concluding September 20, Strategy acquired 950 BTC but allocated $174 million toward repurchasing its STRC preferred shares.
- Strive’s most recent verified SEC filing indicated a Bitcoin treasury holding of 26,355 BTC as of September 18.
- Nasdaq-listed ASST and SATA provide investors with dual pathways to participate in Strive’s Bitcoin accumulation strategy.
The corporate Bitcoin accumulation race has a new momentum player. Over three consecutive trading days this week, Strive generated an estimated $85.88 million through SATA preferred stock transactions, based on data compiled by BitcoinTreasuries.net.
Based on prevailing market rates, this capital injection could finance the purchase of approximately 1,002 Bitcoin. While these figures represent projections rather than confirmed acquisitions, they underscore Strive’s continued ability to generate fresh capital even as competitors adjust their strategies.
The fundraising activity spanned September 21 through September 23, with each session yielding varying proceeds.
Daily Breakdown of Capital Raises
During the September 21 session, approximately 284,000 SATA shares changed hands, generating net proceeds of $27.69 million. At an average Bitcoin price of $86,001, this would translate to roughly 322 BTC.
The following day proved most productive. Approximately 370,000 shares sold on September 22 produced $36.08 million in proceeds, sufficient to acquire an estimated 418 BTC at $86,266 per unit.
On September 23, the final session yielded $22.11 million from roughly 226,700 shares sold. This capital could cover approximately 261 BTC at an average rate of $84,556.
BitcoinTreasuries.net derives these projections by monitoring SATA trading activity when shares trade at or above their $100 par value. The platform calculates estimated net proceeds and divides them by that day’s Bitcoin price. While the model is calibrated against Strive’s official regulatory filings, these figures remain estimates pending company confirmation.
Strive’s most recent verified Bitcoin purchase covered September 14 to 18. During that window, the firm acquired 1,355 BTC for approximately $107.7 million, representing an average cost of $79,475 per coin. This transaction expanded its publicly disclosed holdings from 25,000 BTC to 26,355 BTC.
CEO Matt Cole provided additional context regarding that capital raise on X, noting that warrant exercises contributed $21.2 million, while SATA proceeds represented 57.7% of total capital raised during the period.
Contrasting Strategy at the Industry Leader
Strategy, the dominant corporate Bitcoin holder, pursued a distinctly different approach during its latest reporting period. The firm purchased 950 BTC for $75.7 million at an average price of $79,670 per unit, bringing total holdings to 846,000 BTC.
However, Strategy simultaneously deployed $174 million to repurchase its STRC preferred stock. This move carries particular significance given that STRC has traded beneath its $100 par value since June, with the company recording no new capital raises through this instrument in recent months.
Strategy financed both the Bitcoin purchases and stock buybacks from its existing USD cash reserves, which decreased from approximately $1.30 billion to $1.05 billion during the week. The company’s SEC filing confirms no fresh STRC sales occurred during this timeframe.
In contrast, Strive has maintained consistent utilization of its at-the-market (ATM) offering program. Notably, Strive maintains an investment position in Strategy’s preferred stock, holding 505,000 STRC shares worth approximately $49.7 million as of September 18.
For September, SATA carries a 13% annualized dividend rate, while STRC’s rate stands at 12%, according to respective company disclosures.
Both Strive’s ASST common stock and SATA preferred shares trade on the Nasdaq exchange. Strategy’s blended cost basis across its entire 846,000 BTC position calculates to $75,416 per coin, representing a cumulative investment of approximately $63.8 billion.
Strive’s upcoming SEC filing will clarify whether the projected SATA proceeds from this week’s trading sessions were indeed deployed toward additional Bitcoin acquisitions.
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