Strive, a Bitcoin asset management firm, has rapidly escalated its cryptocurrency holdings to 7,525 Bitcoin, surpassing Galaxy Digital, through an innovative financing structure involving preferred shares.
The company recently acquired an additional 1,567 Bitcoin, valued at approximately $162 million, pushing its total reserves past Galaxy Digital’s estimated 6,894 Bitcoin. This acquisition solidifies Strive’s position among the largest corporate holders of the digital asset.
The purchase was funded through the company’s recent initial public offering (IPO) of non-cumulative SATA preferred shares, which were issued at $80 per share. This method was designed to raise capital without diluting common shareholders.
Matt Cole, CEO of Strive, described the financing structure as an “innovative model” for acquiring and holding Bitcoin. He characterized the operation as a “decisive moment” for the firm.
Cole also noted that Strive is the first Bitcoin treasury firm to utilize strategic perpetual preferred share investments. This approach aims to strengthen its balance sheet and generate long-term value for investors.
The IPO for the SATA shares was oversubscribed and expanded, indicating strong demand from institutional investors. These preferred shares offer an adjustable return of capital (ROC) equivalent to 12% annually.
Strive plans to adjust the dividend rate to maintain the share price between $95 and $105. Ben Werkman, the firm’s Chief Investment Officer, stated that SATA combines the yield stability of conservative instruments with Bitcoin’s capital dollarization efficiency.
Jeff Walton, Chief Risk Officer, highlighted the liquidity and transparency of the Bitcoin market. He said these characteristics make it an ideal asset for treasury strategies that seek stable returns, allowing for more precise risk and return modeling than many other alternative asset classes.
Strive’s move reflects a broader trend of public companies integrating Bitcoin into their strategic reserves. Firms like CleanSpark, Tesla, and Trump Media and Technology Group have also increased their Bitcoin holdings recently.
Institutional flows into Bitcoin exchange-traded funds (ETFs) and structured investment vehicles have also grown. Unconfirmed reports suggest JPMorgan received a $340 million allocation in BlackRock’s Bitcoin ETF.
Strive has indicated that it plans to continue accumulating Bitcoin if market conditions remain favorable for its treasury model. With this latest purchase, Strive ranks below Block but above Galaxy Digital in corporate Bitcoin holdings.
This strategy reinforces the view that Bitcoin can serve as both an inflation hedge and a structural tool for efficient, long-term capital management within corporate frameworks.