Strive has bought another $235 million of Bitcoin. Now it wants to attract a different kind of investor: someone looking for regular cash payments from a company building a large Bitcoin treasury.
The company acquired 2,822 BTC on October 12–13 at an average price of approximately $83,266, including fees and expenses, according to its October 14 SEC filing. Its holdings now stand at 35,595 BTC, The Block reported.
Alongside those purchases, Strive has proposed a new preferred stock, SATS, with a fixed 15% annual dividend. The combination shows how its strategy is evolving: buying more Bitcoin while creating securities for investors with different priorities.
Where the Latest Money Came From
The same SEC filing says investors exercised warrants covering approximately 13.67 million Class A shares over those two days, generating $369.2 million in expected gross proceeds. No traditional warrants from the company’s PIPE financing remained outstanding at the close of October 13.
Warrants give investors the right to buy shares at agreed terms. Exercising them brings money into the company and adds shares. That matters because a larger Bitcoin balance does not automatically mean more Bitcoin exposure for each existing common share: the share count matters, too.
Strive’s treasury has grown substantially since Blockster’s September report on its SATA financing, when it held 24,531 BTC. The latest total is about 45% higher. That comparison measures growth in total holdings, not investment returns or Bitcoin per share.
Post from @StriveView the original post on X↗
A New Stock With a 15% Annual Dividend
Strive’s offering announcement proposes five million SATS preferred shares. Each carries a $100 stated amount, with cumulative dividends calculated at 15% a year.
That works out to $15 per share annually, or $75 million across five million shares if the full annual dividend is paid. The proposed schedule calls for payments every business day beginning November 9, subject to board declaration and legally available funds.
The $500 million figure associated with the proposal is five million shares multiplied by their $100 stated amount. The preliminary prospectus leaves the public offering price blank; it is not confirmation that Strive has raised $500 million.
Proceeds could support further Bitcoin purchases, but the stated uses also include income-generating assets, working capital and repurchases of common or SATA shares.
Post from @StriveView the original post on X↗
What the Dividend Comes With
SATS would sit below Strive’s existing SATA preferred stock in the payment hierarchy, while ranking above common shares. The preliminary prospectus also warns that the company may lack sufficient funds to pay cash dividends or may choose not to declare them.
Strive plans to reserve the equivalent of 18 months of dividends at closing, using existing cash and securities. At the proposed five-million-share size, that is $112.5 million. A reserve can help fund early payments, but it does not remove the longer-term need to generate cash.
“We may not have sufficient cash to pay regular dividends on the SATS Stock in cash.”
— Strive, preliminary SATS prospectus
The distinction is central to this story. Bitcoin held on a balance sheet does not itself produce the dollars needed for a dividend. Preferred shareholders are relying on Strive’s finances and payment capacity, while common shareholders must weigh treasury growth against additional shares and preferred claims.
The next milestones are the offering’s final terms and completion—and how Strive deploys the new capital. Its Bitcoin balance is growing. The financing behind that growth deserves just as much attention.
Reporting by Lidia Yadlos
