Strive’s SATA may fund 1,192 BTC purchases this week

Strive’s SATA preferred stock has generated an estimated amount of funding sufficient to purchase 1,192 Bitcoin this week, according to live market monitoring.

SATA has reopened Strive’s Bitcoin funding channel

BitcoinTreasuries.NET estimated on Aug. 28 that trading in Strive’s Variable Rate Series A Perpetual Preferred Stock, known by its ticker SATA, had generated enough funds to purchase about 1,192 $BTC during the week.

The running figure continued to rise after the U.S. market opened on Friday. Within the first two hours of trading, the tracker estimated that SATA had added funding capacity for more than 100 $BTC.

BitcoinTreasuries.NET calculates the figure using SATA volume at or above its $100 stated value and an estimated capture rate based on Strive’s previous filings with the U.S. Securities and Exchange Commission. The model attempts to estimate how many new shares Strive may sell through its at-the-market offering program.

Because the tracker relies on market activity rather than a company disclosure, the 1,192 $BTC figure does not confirm that Strive has already purchased the coins. Strive has not filed an 8-K detailing any Bitcoin acquisitions made between Aug. 24 and Aug. 28.

At Bitcoin prices of roughly $78,000 to $80,000 during the week, the estimated purchasing capacity would amount to approximately $93 million to $95 million. The final amount could differ because issuance expenses, Bitcoin prices, and the portion of eligible SATA volume captured by Strive can change during each session.

An earlier update from BitcoinTreasuries.NET put Thursday’s running total at 1,084 $BTC after SATA recorded about $50 million in daily trading volume. Additional trading on Friday raised the estimate to 1,192 $BTC before the end of the session.

The $100 SATA price has allowed issuance to resume

SATA carries a stated value of $100 and pays a variable annual dividend based on that amount. Strive currently maintains the annualized rate at 13%, with payments made every business day when declared by its board.

Strive has said it will not issue new SATA shares below $100 because doing so would raise less than the security’s stated amount and dilute existing preferred holders. Trading at or above par allows the company to sell new shares through its ATM program and direct the net proceeds toward Bitcoin or other permitted corporate uses.

During a June sell-off in Bitcoin-linked securities, SATA fell as low as $79.01 The decline prevented Strive from using the preferred-stock ATM program on its stated terms for several weeks

The recovery followed a period when SATA gradually approached par. On Aug. 19, crypto.news reported SATA nearing par as Strive director Pierre Rochard purchased 15,900 ASST common shares for $199,386. Rochard paid an average price of $12.54 per share in his first reported direct purchase of Strive common stock.

Strive launched SATA on Nasdaq in November 2025 through an upsized initial public offering of two million shares priced at $80 each. According to the company, demand led it to increase the offering from an initial target of 1.25 million shares.

The preferred stock initially carried a 12% annual dividend, which Strive later increased to 13%. Its $100 liquidation preference places SATA ahead of common shareholders in Strive’s capital structure, while its perpetual design means it has no fixed maturity date.

In June, Strive expanded its available ATM capacity to as much as $2.6 billion for SATA and $2.55 billion for ASST common stock The programs permit Strive’s appointed sales agents to issue shares into the market over time rather than completing one large underwritten offering

Strive entered the week holding 21,356 $BTC

A Form 8-K filed with the SEC on Aug. 24 showed that Strive purchased 1,110 $BTC between Aug. 17 and Aug. 21 for about $81.5 million. The company paid an average of approximately $73,409 per coin, including fees and expenses.

The purchases increased Strive’s holdings from 20,246 $BTC to 21,356 $BTC. BitcoinTreasuries.NET ranked the company as the seventh-largest publicly traded corporate Bitcoin holder, behind Bullish with 22,000 $BTC and ahead of SpaceX with 18,712 $BTC.

During the same Aug. 17–21 period, the number of SATA shares outstanding rose by 441,313 to 8,270,815, according to the filing. Strive’s Class A common shares increased by 3,646,300 to 79,890,888.

The filing did not divide the purchase funding among SATA issuance, ASST common-stock sales and existing cash. BitcoinTreasuries.NET estimated that SATA activity on Aug. 20 and Aug. 21 could have provided enough money for about 440 $BTC, leaving the remainder potentially funded through common shares, cash or a combination of the three.

Strive’s cash and cash equivalents increased by $17.1 million during the same period, reaching $171.9 million after the company completed the 1,110-$BTC purchase. Its holding of Strategy’s STRC preferred stock remained unchanged at 505,000 shares, while the position’s reported fair value rose by $707,000 to $48.57 million.

Strive has expanded its Bitcoin holdings rapidly since SATA began trading. The company held 7,525 $BTC in November 2025, meaning its disclosed balance had increased by 13,831 $BTC, or about 184%, by Aug. 21.

In June, Strive made another large purchase when it acquired 759 $BTC for about $50 million at an average price of $65,850. The 759 $BTC acquisition lifted its holdings to 19,864 $BTC and exceeded Strategy’s purchase of 520 $BTC during the same reporting period.

An earlier May filing showed that Strive bought 1,109 $BTC for $85.4 million, paying an average of $76,988 per coin. The May Bitcoin purchase raised its holdings to 16,500 $BTC and moved the company ahead of Coinbase and Riot Platforms in the public-company rankings at the time.

U.S. investors face separate SATA and ASST risks

For U.S. investors, SATA and ASST provide two different forms of exposure to Strive’s Bitcoin strategy through Nasdaq-listed securities. SATA holders receive preferred dividends when declared, while ASST holders own the company’s common equity and bear the effects of changes in Bitcoin holdings, financing costs, and share issuance.

Strive described SATA in its second-quarter report as the first listed security in U.S. capital markets to pay cash dividends every business day. Chief executive Matthew Cole said the company had become “debt-free, with zero margin requirements, and zero encumbered Bitcoin.”

The SEC filing identifies dilution from additional ASST or SATA issuance as a risk to investors. SATA also creates a continuing preferred dividend obligation because the shares are perpetual and have no scheduled maturity.

Strive’s second-quarter balance sheet listed $702.4 million of SATA preferred equity and a $783 million redemption value as of June 30. The company reported $26.2 million in SATA dividends within its adjusted net loss attributable to common shareholders for the quarter.

Strive recorded a second-quarter GAAP net loss of $257.6 million, with $234 million attributed to lower fair values for its Bitcoin and STRC holdings. As of Aug. 7, the company reported $154.9 million in cash, $48 million of STRC preferred shares, and no outstanding short- or long-term debt.

Source: cryptonews.net