Strive, Inc. has once again made headlines with its aggressive Bitcoin acquisition strategy. Through its SATA preferred stock program, the company snapped up an estimated 490 Bitcoin in a single trading session, outpacing the network’s average daily issuance of roughly 450 BTC. This marks a significant milestone, as it shows that institutional demand can absorb more than what miners produce in a day.
Data from the Bitcoin for Corporations SATA Tracker reveals that Wednesday’s activity saw about $66.9 million in total SATA volume, with a 13% yield and 95% of trades occurring above the $100 par level set by Strive’s board. The tracker estimates a 58% capture rate from the day’s trading, placing at-the-market proceeds near $35.3 million while Bitcoin traded around $74,956. Based on these figures, the SATA program likely acquired around 490 BTC during the session.
For context, Bitcoin miners currently earn 3.125 BTC per block after the April 2024 halving, and the network typically produces about 144 blocks daily, adding roughly 450 new coins to circulation every 24 hours. Wednesday’s estimated purchase means Strive’s preferred stock program bought more Bitcoin in a single day than what miners across the entire network generated.
Looking at the broader week ending May 24, SATA recorded approximately 794 BTC in purchases. Wednesday’s revised estimate of 475 BTC was listed as the second confirmed daily supply absorption event by the instrument over the previous eight days. Additionally, Strive’s 8-K data, covering May 18 to May 26, showed that SATA generated $50 million in total proceeds and added about 650 BTC to Strive’s treasury at a 48% capture rate.
Strive’s latest SEC filing confirmed that the company purchased 1,109 Bitcoin between May 19 and May 22, with an average purchase price of around $76,989 per Bitcoin. This brought the company’s total holdings to 16,500 BTC. The firm describes itself as a Dallas-based corporate treasury and structured finance company focused on Bitcoin accumulation, using its Variable Rate Series A Perpetual Preferred Stock (SATA) as a primary funding tool. The preferred stock is designed to pay cash dividends on each business day at a stated annual rate of 13%, with frequent compounding. Strive has set a $100 per-share threshold as a floor for new issuance, and proceeds from SATA offerings are used for Bitcoin purchases, retiring convertible notes from its Semler Scientific acquisition, and repaying a Coinbase Credit loan.