Strive (ASST) Stock Jumps Into Bitcoin Buying Spree With $86M Raise

TLDR

• Strive raised an estimated $85.88 million through its SATA preferred stock over three sessions from September 21 to 23.
• The funds could buy about 1,002 Bitcoin, based on estimates from BitcoinTreasuries.net.
• Strategy bought 950 BTC in the week ending September 20 but spent $174 million buying back its own STRC preferred shares.
• Strive’s last confirmed filing showed a treasury of 26,355 BTC as of September 18.
• Both ASST and SATA trade on Nasdaq, giving investors two different ways to gain exposure to Strive’s Bitcoin bet.

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Strive is moving fast in the corporate Bitcoin buying race. The company raised an estimated $85.88 million through its SATA preferred stock over three trading sessions this week, according to tracking site BitcoinTreasuries.net.

LATEST: 💰 Strive bought another 1,355 Bitcoin, pushing its total holdings to 26,355 BTC, worth roughly $2B. pic.twitter.com/QkAM8eJcl0

— CoinMarketCap (@CoinMarketCap) September 22, 2026

That sum could buy roughly 1,002 Bitcoin at recent prices. It’s an estimate, not a confirmed purchase, but it shows Strive is still pulling in fresh cash while a rival slows down.

The three sessions ran from September 21 to September 23. Each day brought in a slightly different haul.

How The Numbers Break Down

On September 21, Strive sold about 284,000 SATA shares for $27.69 million in net proceeds. That could cover roughly 322 BTC at an average price of $86,001.

Strive, Inc., ASST

September 22 was the biggest day. Around 370,000 shares sold for $36.08 million, enough for an estimated 418 BTC at $86,266 each.

The third session, September 23, brought in $22.11 million from about 226,700 shares. That works out to roughly 261 BTC at an average of $84,556.

BitcoinTreasuries.net builds these figures by watching SATA’s trading volume when the stock sits at or above its $100 par value. It then estimates net proceeds and divides by Bitcoin’s price that day. The tracker calibrates its model against Strive’s actual filings, but the numbers above are still estimates until the company confirms them.

Strive’s last confirmed purchase covered September 14 through 18. The company bought 1,355 BTC for about $107.7 million, an average of $79,475 per coin. That pushed its disclosed treasury from 25,000 BTC to 26,355 BTC.

CEO Matt Cole gave some color on how that raise came together. He wrote on X that warrant exercises brought in $21.2 million, and that 57.7% of total capital raised in the period came from SATA proceeds.

Strategy’s Different Approach

Strategy, the largest corporate Bitcoin holder, took a different path in its most recent week. The company bought 950 BTC for $75.7 million, an average of $79,670 per coin, lifting its total holdings to 846,000 BTC.

But Strategy also spent $174 million buying back its own STRC preferred stock. That’s notable because STRC has traded below its $100 par value since June, and the company hasn’t raised new money through that security in months.

Strategy funded both moves from its existing USD cash pile, which fell from about $1.30 billion to $1.05 billion during the week. The company made no new STRC sales in that period, according to its SEC filing.

Strive, on the other hand, has kept tapping its ATM program without pause. It’s worth noting Strive also holds a stake in Strategy’s preferred stock, owning 505,000 STRC shares valued at roughly $49.7 million as of September 18.

SATA currently carries a 13% annualized dividend rate for September. STRC’s rate sits at 12%, based on the companies’ own disclosures.

Strive’s ASST common shares and SATA preferred shares both trade on Nasdaq. Strategy’s average cost basis across its full 846,000 BTC holding works out to $75,416 per coin, for a total spend of about $63.8 billion.

Strive’s next SEC filing will show whether the estimated SATA proceeds from this week actually went toward buying more Bitcoin.