Strive Buys 6,182 Bitcoin For $511 Million, Lines Up $1 Billion ATM To Buy More

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Strive Buys 6,182 Bitcoin For $511 Million, Lines Up $1 Billion ATM To Buy More

Strive, Inc. (ASST) acquired 6,182 bitcoin for $511.4 million between October 17 and October 23, according to an SEC filing published on Monday. The company paid an average price of $82,732 per bitcoin.

The purchase lifts Strive’s holdings to 43,000 BTC. Cash and marketable securities rose by $187.7 million to $554.6 million over the same period.

The buy comes one week after Strive closed its upsized initial public offering of SATS, its 15% Perpetual Series A Preferred Stock. The company sold 7 million shares at $90 each for $630 million in gross proceeds. Dividends accrue at 15% on a $100 stated amount, which works out to a 16.67% yield at the issue price. Payments, if declared by the board, start November 9 and land on each business day.

Strive opened the SATS offering with a $500 million target and raised the size by 2 million shares on demand. The stock trades on the Nasdaq. The company has set aside a $157.5 million dividend reserve, which covers 18 months of payments on the new shares.

A $1 billion ATM for SATS

The filing disclosed a new at-the-market program under which the company can sell up to $1 billion of SATS over time. Cantor Fitzgerald, Barclays, Clear Street, StoneX, B. Riley Securities, Maxim Group and H.C. Wainwright serve as sales agents.

The structure mirrors the one Strive built for SATA, its first preferred stock, which carries a variable dividend and pays cash each business day. Strive set up a $500 million ATM for SATA in December 2025. That vehicle absorbed more than the entire daily bitcoin mining supply on a single day in May.

Under the SATS program, Strive can issue preferred shares when demand supports the price and route the proceeds into bitcoin. The company has said proceeds may fund bitcoin purchases, income-generating assets, working capital, buybacks or acquisitions.

Strive’s climb up the treasury rankings

Strive went public as a bitcoin treasury company in 2025 through a reverse merger and completed its all-stock acquisition of Semler Scientific in January, the first case of one public bitcoin treasury buying another. Holdings stood near 7,525 BTC in December 2025. The figure has since grown to more than five times that amount.

The company reported 36,818 BTC on October 20 after a purchase of 4,045 BTC between October 12 and 16. Monday’s filing adds 6,182 BTC to that total.

Strive funds its purchases through common and preferred equity and carries no debt: no bonds, no credit lines and no leveraged positions. 

Chairman and CEO Matt Cole called the SATS IPO “a critical milestone in our strategy to maximize long-term total returns for our common equity investors.”

Strategy, the largest corporate holder with 848,517 BTC, proposed daily dividends across its five preferred stocks in September.

This post Strive Buys 6,182 Bitcoin For $511 Million, Lines Up $1 Billion ATM To Buy More first appeared on Bitcoin Magazine and is written by Micah Zimmerman.