Strive, Inc. has raised enough capital through its preferred stock vehicle, SATA, to purchase 191 Bitcoin, hitting its highest three-day run-rate since May 2026. The Nasdaq-listed company (ticker: ASST) continues to prove that there’s more than one way to stack sats at the corporate level.
While the Michael Saylor playbook of issuing convertible debt to buy Bitcoin gets most of the attention, Strive has carved out a different path. Its approach relies on a perpetual preferred stock with a $100 par value and a 13% annualized dividend paid daily, a financial instrument that sits somewhere between a bond and a stock but functions, in practice, as a Bitcoin buying engine.
How the SATA mechanism works
SATA is Strive’s Variable Rate Series A Perpetual Preferred Stock. Think of it as a share that pays holders a steady yield, currently 13% annualized, while the company uses the proceeds to buy Bitcoin. The dividend rate is variable and adjustable by Strive’s board, which gives the company flexibility to manage costs as market conditions shift.
The key mechanic is the at-the-market (ATM) program. When SATA trades above its $100 par value, Strive can issue new shares directly into the open market and pocket the premium. That cash goes straight into Bitcoin purchases. When shares trade below par, the company simply doesn’t issue.
