Strive, Inc. has launched a $500 million at‑the‑market preferred stock offering aimed at expanding its Bitcoin holdings, signaling a major push to strengthen its corporate crypto reserves.
Key Takeaways:
- Strive is offering up to $500 million of Series A Perpetual Preferred Stock (SATA), via an at‑the‑market structure, giving the firm flexibility to raise capital over time rather than in a single transaction.
- The proceeds are earmarked primarily for Bitcoin acquisitions, reflecting Strive’s long-term strategy to grow its crypto treasury.
- The preferred shares carry an initial 12% annual dividend, payable monthly, to attract yield-seeking investors while the company accumulates more BTC.
Earlier today, December 10, Strive announced it was launching a $500 million at‑the‑market offering of its variable‑rate Series A perpetual preferred stock (SATA). Under this structure, the company and its underwriters, Cantor Fitzgerald, Barclays and Clear Street, can sell shares directly into the open market at prevailing prices over time. This provides Strive with more capital‑raising flexibility compared with a traditional fixed‑price offering.
Strive said that the funds will be used mostly for “general corporate purposes,” which notably include acquiring additional Bitcoin and crypto‑related assets. This underscores the firm’s long‑term commitment to using its balance sheet to accumulate BTC rather than paying down debt or using proceeds for non‑crypto business lines.
The preferred shares come with a 12% annual dividend (paid monthly), a structure designed to appeal to yield‑seeking investors who are comfortable with perpetual equity. Strive has the ability to periodically adjust the dividend rate, which suggests the company may adapt the yield in response to market conditions.
Strive’s Bitcoin Push Signals Growing Corporate Crypto Trend
Strive is among a small but growing group of public companies looking to make Bitcoin as a core treasury reserve. By raising $500 million through preferred stock instead of debt, Strive aims to avoid increasing leverage, which is a key risk mitigation move. This approach potentially paves the way for significant Bitcoin accumulation without burdening the firm with interest obligations or repayment schedules.
The use of an at‑the‑market preferred‑stock offering (ATM) gives Strive flexibility to time its capital raises based on both stock market conditions and Bitcoin price trends. That could allow the company to accumulate more BTC when market sentiment is bearish or ramp up when sentiment improves.
With the firm’s previous moves, including a $750 M PIPE raise earlier this year, merger with Asset Entities, Inc., and a growing BTC balance, this new offering looks like a continuation of a well-defined playbook rather than a one-off capital raise.
Bitcoin Market Update
As of this writing (10:15AM UTC), Bitcoin (BTC) is trading around $92,967.90, reflecting a notable gain of 3.2% over the past 24 hours, and peaking intraday highs near $94,500 while having touched intraday lows around $90,000, according to CoinGecko’s live market statistics.
Strive has previously disclosed BTC holdings with over 7,500 coins as of November 2025, which means that the reported raise could significantly expand its exposure depending on how much of the $500 million is converted to Bitcoin, especially as the market is on its lower levels compared to its recent records of all-time high.
Strive is currently in the 14th spot of the largest corporate Bitcoin holders. Source: Bitcoin Treasuries
What’s Next for Strive’s Bitcoin Strategy?
Strive will likely deploy the raised capital into Bitcoin in tranches, allowing the company to respond dynamically to market conditions. Investors will monitor the dividend rate on SATA and whether the firm grows its Bitcoin‑per‑share ratio without excessive dilution. Success could attract more yield‑seeking investors and encourage other companies to adopt similar crypto investment strategies.
Summary
Strive launched a $500M at-the-market offering of Series A perpetual preferred stock to raise capital primarily for Bitcoin purchases, offering a 12% annual dividend and flexibility to build its corporate BTC treasury over time.
