Strive Buys 124 Bitcoin as 15% SATS Funding Begins
By Abdelaziz Fathi
AI summary of the source article
Strive acquired 124 bitcoin for roughly $10 million, lifting its total holdings to 43,124 BTC. The purchase was partly supported by its newly launched $1 billion SATS preferred stock financing program.
Why it matters
Unlike common-stock issuance, preferred financing allows Strive to raise capital without directly expanding its common-share base, though the securities create dividend obligations and preferred claims ahead of common shareholders.
Key facts
- Strive purchased 124 bitcoin between October 24 and October 30 for approximately $10 million, averaging $80,526 per coin.
- The acquisition raised Strive's total holdings to 43,124 BTC, placing it fourth among publicly traded corporate bitcoin holders.
- The company initiated sales under its $1 billion ATM program for 15% Series A Perpetual Preferred Stock (SATS).
Source excerpt · FinanceFeeds
Strive added another 124 bitcoin to its corporate treasury last week, bringing its total holdings to 43,124 BTC as the company began using its new $1 billion SATS preferred stock financing program for the first time.The Nasdaq-listed company acquired the bitcoin between October 24 and October 30 at an average price of $80,526 per coin, including fees and expenses, according to a November 2 filing…