New Capital Initiative to Fund Bitcoin Purchases, Acquisitions, and Operations
Strive has launched a $500 million at-the-market program designed to support new growth plans and accelerate its Bitcoin strategy. The company announced this significant capital initiative through a filing outlining the sale of its SATA preferred stock. This action represents the firm’s largest capital undertaking since it expanded its treasury model earlier this year.
This announcement underscores a broader trend among asset managers increasingly focused on accumulating Bitcoin. Strive consistently frames Bitcoin as a valuable long-term treasury reserve asset that can fortify its balance sheet and enhance future operations. The company now intends to leverage this fresh capital to scale its Bitcoin holdings and broaden its overall business footprint.
Strive Expands Capital Plan Through New Stock Offering
Strive confirmed it has entered into a sales agreement for the issuance of shares of Variable Rate Series A Perpetual Preferred Stock, traded under the SATA ticker. This preferred stock forms the foundation of the new offering, through which the company stated it could sell up to $500 million in total.
The proceeds from this offering will be allocated to several critical corporate needs. These include further Bitcoin purchases, the acquisition of new income-generating assets, and broader working capital requirements. Additionally, the firm plans to evaluate potential acquisitions that align with its long-term strategic objectives, which may encompass businesses, technologies, or other assets that strengthen its market position.
The company reiterated its commitment to increasing its Bitcoin holdings per share over time, emphasizing that this objective remains central to its treasury operations. Strive currently holds 7,525 BTC, according to recent disclosures, positioning it among the leading publicly traded companies with significant Bitcoin treasury reserves.
Since the launch of its first ETF in 2022, Strive Asset Management has experienced consistent growth, now managing over $2 billion in assets under management. The firm continues to develop new financial products, expanding its presence across U.S. markets.
The at-the-market program will operate under a prospectus supplement filed with the SEC, which connects to a shelf registration statement that became effective in September. The company indicated that shares may be offered and sold by sales agents through approved at-the-market methods.
Bitcoin Purchases Remain Central to Strive’s Growth Model
The acquisition of Bitcoin continues to be a pivotal element in shaping Strive’s strategic direction. Earlier this year, the company revealed plans to target a substantial purchase related to the Mt. Gox bankruptcy claims, announcing an ambitious goal of acquiring 75,000 BTC, marking one of the most significant treasury plans from a U.S. asset manager.
Strive’s leadership has consistently articulated their view of Bitcoin as a long-term store of corporate value, asserting that it strengthens their treasury and offers a compelling alternative to traditional asset reserves. This strategy is underpinned by a model of steady accumulation and structured financial management.
The new $500 million program provides Strive with the means to further expand this approach. The firm has identified Bitcoin and Bitcoin-related products as primary uses for the new capital. This strategy is designed to reinforce the company’s mission of outperforming Bitcoin over the long run through the implementation of structured financial instruments.
Following the announcement, Strive’s stock experienced an increase, with ASST rising more than 3% during the trading session before a later retreat. The stock traded within a range of $1.12 to $1.02 as investors reacted to the news.
The company stated that the at-the-market program will offer flexibility as market conditions evolve. Strive also indicated that it will adjust issuance levels based on corporate needs and emerging opportunities, maintaining its focus on scaling its Bitcoin position while concurrently developing new financial capabilities.