Strive, the Bitcoin treasury and asset management firm founded by Vivek Ramaswamy, has announced a fresh $162 million BTC purchase. This followed the oversubscribed listing of its SATA preferred stock on Nasdaq.
Strive’s IPO Powers Bitcoin Expansion
According to post on the firm’s X channel, the acquisition of 1,567 BTC was at an average price of $103,315. This brings Strive’s total holdings to 7,525 BTC, propelling it ahead of Galaxy Digital, which holds 6,894 BTC, according to BitcoinTreasuries.net.
The milestone marks Strive’s entry into the top 15 global corporate Bitcoin holders. The purchase positions it directly behind GD Culture Group and ahead of Mike Novogratz’s Galaxy Digital in Bitcoin treasury size.
The achievement comes two months after Strive’s public listing and underscores the company’s rapid ascent in Bitcoin-based corporate finance. This trend is also an indication of rising institutional investment. A notable example is the $340 million investment in BlackRock’s BTC ETF by JPMorgan.
Strive’s $162 million BTC purchase was funded through the oversubscribed and upsized IPO of its SATA stock. The IPO was held at a price of $80 a share.
Strive’s Bitcoin Model Introduces 12% ROC Yield Strategy
According to Strive’s official announcement, SATA proceeds will primarily finance further BTC accumulation through a non-dilutive model. The company called such a model a “Bitcoin amplification toggle.”
This mechanism enables Strive to build Bitcoin exposure via perpetual preferred equity while preserving shareholder value in its ASST common stock. Strive CEO Matt Cole called the IPO “a defining moment.”
He added that the company is the first BTC treasury firm to finance accumulation exclusively through perpetual preferred equity. “We’ve shown the speed and precision to create long-term value with Bitcoin as our hurdle rate,” Cole said.
Similar Bitcoin accumulation strategies have also been seen among other corporate treasuries. One of the most recent examples is the additional 487 BTC purchase by Michael Saylor’s Strategy.
SATA’s structure offers a 12% variable monthly dividend with returns classified as Return of Capital (ROC), providing potential after-tax advantages to investors. Strive said it will manage the dividend rate to keep SATA shares trading between $95 and $105, reflecting a disciplined yield strategy tied to Bitcoin performance.
Strive Emerges Among Leading Corporate BTC Holders
Chief Investment Officer Ben Werkman described SATA as a hybrid between traditional fixed-income design and modern Bitcoin capital efficiency. Chief Risk Officer Jeff Walton added that BTC’s liquidity and transparency make it ideal for a risk-conscious yield instrument.
Following this acquisition, Strive has followed the footsteps of other institutional investors like CleanSpark, Trump Media and Technology Group, and Tesla. These firms have all increased their exposure to BTC in recent months. This action also confirms Strive as one of the most rapidly expanding Bitcoin treasury companies.
Source: https://coingape.com/strive-acquires-162m-bitcoin-surpasses-galaxy-digital-holdings/
