Strive, Inc. utilizes a perpetual preferred stock instrument called SATA to accumulate Bitcoin. The shares carry a $100 par value and offer a variable annualized dividend of approximately 13%. When trading at or above par, the company issues new shares and directs the proceeds into Bitcoin purchases.
Between August 31 and September 4, 2026, Strive acquired 1,375 BTC for $109 million, with $92 million sourced from SATA sales. A subsequent purchase between September 8 and September 11 added 469 BTC for $36.6 million, bringing the company total to 25,000 BTC.
The notional value of the SATA instrument has surpassed $1.04 billion less than a year after its launch. The company maintains a target trading band for the shares between $99 and $101. This mechanism allows Strive to increase its Bitcoin holdings without relying on debt or convertible notes.
CEO Matt Cole monitors the company's amplification ratio, which tracks the Bitcoin net asset value relative to issued preferred equity. Unlike traditional debt-based treasury strategies, perpetual preferred equity lacks maturity dates or principal repayment deadlines, reducing risks associated with market volatility.
