Strive Boosts Bitcoin Holdings with $162 Million Purchase After Nasdaq IPO. Source: Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0, via Wikimedia Commons
Strive, the Bitcoin treasury and asset management firm founded by Vivek Ramaswamy, has announced a new $162 million Bitcoin purchase following the successful and oversubscribed listing of its SATA preferred stock on Nasdaq. According to the company’s X post, Strive acquired 1,567 BTC at an average price of $103,315, bringing its total Bitcoin holdings to 7,525 BTC. This move positions Strive among the top 15 global corporate Bitcoin holders, surpassing Galaxy Digital’s 6,894 BTC and just behind GD Culture Group, as reported by BitcoinTreasuries.net.
The acquisition highlights Strive’s rapid rise in Bitcoin-based corporate finance, coming only two months after its public listing. The company’s $162 million purchase was funded entirely by proceeds from the oversubscribed and upsized SATA IPO, priced at $80 per share. This expansion mirrors the broader institutional trend of increasing Bitcoin exposure, with major players like JPMorgan investing $340 million in BlackRock’s BTC ETF.
Strive’s Bitcoin strategy leverages a unique model called the “Bitcoin amplification toggle,” which allows it to accumulate BTC through perpetual preferred equity without diluting shareholders of its ASST common stock. CEO Matt Cole described the IPO as a defining moment, emphasizing that Strive is the first Bitcoin treasury firm to fund accumulation solely through preferred equity. SATA offers a 12% variable monthly dividend categorized as Return of Capital (ROC), giving investors potential tax advantages while maintaining the share price within a $95–$105 range.
Chief Investment Officer Ben Werkman characterized SATA as a blend of traditional fixed income and modern Bitcoin efficiency. With this milestone, Strive joins top corporate Bitcoin holders such as Tesla, CleanSpark, and Trump Media, marking its emergence as a leading institutional player in Bitcoin treasury management.