TLDR
- Strive (ASST) closed at $27.60 on Tuesday and announced a new preferred stock, SATS, with a 15% fixed dividend.
- The company wants to raise $500 million by selling 5 million SATS shares at $100 each.
- Strive bought 3,311 bitcoin last week, lifting its total to 32,773 BTC.
- Investors exercised $208 million in warrants, and bitcoin holdings per share rose.
- Michael Saylor praised Strive’s strategy on X.
Strive (ASST) stock closed at $27.60 on Tuesday, after the bitcoin treasury company announced a new perpetual preferred stock called SATS. The stock was little changed during the day, trading near $27.52 at last look.
SATS will pay a fixed 15% dividend. Strive plans to sell 5 million shares at $100 each, which would raise $500 million.
The company says it will use the money to buy more bitcoin, acquire income-producing assets, or buy back stock. That gives management some room in how it spends the cash.
How SATS Compares to SATA
SATS will sit below Strive’s current perpetual preferred stock, SATA, in the capital structure. SATA pays a variable rate, which is now 13%.
Like SATA, SATS will pay dividends daily. At closing, Strive plans to set aside a reserve equal to the first 18 months of SATS dividend payments.
Strive also changed its governing documents this week. SATA shares now have a binding $100 minimum issuance price, which stops the company from selling them below that level. SATA traded at $99.40 at last look.
Bitcoin Buying Picks Up
In a Tuesday filing with the SEC, Strive said it bought 3,311 bitcoin in the week ending Oct. 9. The average price was about $84,500 per coin.
That brings total holdings to 32,773 BTC, worth about $2.7 billion. Three months ago, the company held fewer than 20,000 coins.
Strive is now the fifth-largest publicly traded corporate bitcoin holder. That is a fast climb in a short time.
Bitcoin traded near $83,300 on Tuesday, according to Yahoo Finance data. That is a bit below the average price Strive paid last week.
CEO Matt Cole said on X that investors exercised $208 million in warrants. About 15.3 million warrants were still outstanding ahead of their Tuesday expiration.
Last week, Strive acquired 3,311 $BTC, increasing total holdings to ₿32,773.
– $208M in warrants exercised; ~15.3M remain, expiring today at 5pm ET.
– SATA’s $100 minimum issuance price is now a binding restriction in governing docs, formalizing the protection.$SATA $ASST pic.twitter.com/YKGWy4eLN8— Matt Cole (@ColeMacro) October 13, 2026
Strive’s bitcoin reserves grew 11.2% during the period. Its effective common share count rose 9.4%, so bitcoin per share went up.
Michael Saylor, whose company Strategy pioneered the corporate bitcoin treasury model, praised the move. “Strive is turning demand for digital equity (ASST) and digital credit (SATA) into demand for Bitcoin,” he wrote on X.
Strategy added a smaller 250 BTC last week. Its total now stands at 848,250 BTC, still the largest among public companies.
Strive made the SATS announcement on Tuesday evening after the market closed, so the offering has yet to price.
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