Strive raises $225 million in a complete restructuring of its capital and accumulation system, while also acquiring 334 Bitcoins to expand its corporate treasury.
Strive closed its Variable Rate Series A Perpetual Preferred Stock (SATA) offering, generating $225 million in proceeds and with demand estimated to have exceeded $600 million. The company underwent internal restructuring, establishing a new balance sheet and shifting its focus from debt to equity.
With the purchase of nearly 334 Bitcoins, Strive became one of the top 10 companies with the largest BTC holdings. Additionally, Strive decided to pay down approximately 92% of its debt, which it had accumulated since acquiring Semler Scientific.
Reports indicated that $110 million was used to pay down notes and repay secured obligations. The company also repaid a $20 million loan to Coinbase. In conjunction with the capital placement, Strive purchased 333.89 BTC at an average price of $89,851, raising its treasury to 13,131.82 BTC valued at over $1.1 billion.
Strive’s Bitcoin holdings and the market reaction
Despite the successful funding round, Strive’s common stock (ASST) fell 2.23%, averaging down to $0.80, underscoring investor sensitivity to equity dilution, execution risk, and Bitcoin price volatility. The company said it expects to repay the remaining $10 million of Semler’s debt by April of this year.
Investors and compliance teams will be closely monitoring two outcomes: the performance of and investor appetite for the SATA preferred stock over the coming months, and the impact of a materially larger, unencumbered Bitcoin treasury on Strive’s liquidity profile and risk metrics.
The April 2026 repayment commitment and the continued trading of the SATA will serve as practical tests of the firm’s long-duration preferred stock funding approach and its alignment with a Bitcoin accumulation thesis.
