BitcoinTreasuries.NET estimated that trading in Strive’s SATA preferred stock created enough funding capacity to buy about 1,192 Bitcoin this week. The estimate was published on Aug. 28. Strive has not confirmed any matching Bitcoin purchase so far.
The running total increased after U.S. markets opened on Friday. During the first two hours, SATA activity added estimated capacity for more than 100 BTC. At weekly Bitcoin prices of $78,000 to $80,000, 1,192 BTC would require about $93 million to $95 million.
Why Does SATA Trading Above $100 Matter for Strive?
Strive filed no. 8-K covering Bitcoin purchases from Aug. 24 through Aug. 28. Final proceeds could differ because of issuance costs, Bitcoin prices, and the share of eligible trading volume captured by the company.
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BitcoinTreasuries.NET tracks SATA volume traded at or above its $100 stated value. It then applies an estimated capture rate based on earlier regulatory filings. The model estimates how many shares company may sell through its at-the-market offering.
As per Thursday’s estimate, it was 1,084 BTC following $50 million of SATA daily volume. The additional volume from Friday’s trade increased the estimate to 1,192 BTC.
SATA has a stated value of $100 and pays a floating annual dividend rate, which is currently maintained by compnay at 13% per annum. Payments happen on each business day after approval by the board of directors.
The company has assured that it won’t issue the SATA below the par value of $100, as it will raise less capital than the stated and dilute existing preferred stockholders. Issuance above the par will open the door for issuing the preferred stock.
Source: GlobalNewswire
SATA declined to $79.01 when there was a selloff of securities associated with Bitcoin in June. The decline made it impossible for Strive to use the program under its terms for some weeks, with SATA rising to $100.01 by Aug. 21.
According to estimates by BitcoinTreasuries.NET, the activity of Aug. 20 and Aug. 21 generated the ability to purchase 440 BTC.
Strive issued the SATA on the Nasdaq in November 2025 through an upsized issue of two million shares at $80 per share. In June, the company increased the amount of its available ATM capacity for SATA to $2.6 billion.
How Much Bitcoin Does Strive Hold?
A filing on Aug. 24 revealed that Strive acquired 1,110 BTC in the previous week. The acquisition cost $81.5 million at an average of $73,409 each. This raised the company’s holdings from 20,246 BTC to 21,356 BTC.
Shares outstanding of SATA rose by 441,313 in the same quarter. Shares outstanding of ASST rose by 3,646,300. The filing did not separate the amount used in the purchase between proceeds from share issuance and existing cash.
Strive had 7,525 BTC when SATA began trading in November 2025. The disclosed holding had risen by 13,831 BTC, or 184%, as of Aug. 21.
SATA and ASST offer different exposures to the company’s Bitcoin strategy. Preferred holders get dividends whenever declared and are ranked higher than common holders. However, perpetual shares have no maturity date.
Common holders are subject to dilution through future issuance. Furthermore, common holders experience effects of Bitcoin price movements and the cost of financing.
Strive incurred a net loss of $257.6 million in the second quarter. Around $234 million of the loss was due to the reduced fair value of the company’s Bitcoin and STRC holdings. There were no short-term or long-term debts as at Aug. 7.
Also Read: Strive Expands Bitcoin Treasury With $81.5 Million Bitcoin Buy
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