Strive Asset Management has launched a $500 million stock offering aimed at expanding its Bitcoin holdings and fueling corporate growth.
Key Takeaways
- Strive announced a $500 million at-the-market stock sale to fund Bitcoin purchases, business acquisitions, and corporate initiatives.
- The offering will issue shares of its Variable Rate Series A Perpetual Preferred Stock (SATA) through major brokers including Cantor Fitzgerald and Barclays.
- Strive already holds 7,525 BTC, ranking it 14th among public companies with Bitcoin treasuries.
- The stock move reflects Strive’s ambition to boost Bitcoin-per-share and pressure index providers like MSCI to embrace crypto-focused firms.
What Happened?
Strive Inc., the asset management firm co-founded by Vivek Ramaswamy, is making a bold move to scale its Bitcoin investment strategy. On December 9, 2025, the company announced a $500 million at-the-market (ATM) stock offering that will see it sell shares of its SATA preferred stock to fund various strategic priorities. Strive intends to use the proceeds to acquire more Bitcoin, purchase income-generating assets, fund new business acquisitions, and support working capital.
Strive announces $500,000,000 SATA At-The-Market (ATM) program.
— Strive (@strive) December 9, 2025
The program builds on the success of the upsized SATA IPO offering and will provide the company with additional capital for general corporate purposes, including acquiring more Bitcoin.
As of 11/7/25, we HODL…
Strive’s $500M Bitcoin Push
Strive’s offering of its Variable Rate Series A Perpetual Preferred Stock (SATA) is being conducted under a sales agreement with Cantor Fitzgerald, Barclays, and Clear Street. The ATM structure allows the company to sell shares gradually at prevailing market prices, offering more flexibility than a traditional lump-sum issuance.
According to the prospectus filed with the SEC, Strive plans to use the capital to:
- Acquire Bitcoin and Bitcoin-related products.
- Fund capital expenditures and business expansion.
- Repurchase common stock or pay down debt.
- Support general corporate operations.
The SATA stock will pay a 12 percent annual dividend, starting November 10, 2025, with the option for Strive to adjust the rate in the future.
This latest funding initiative builds on the success of Strive’s previous SATA IPO, which was upsized to 2 million shares at $80 per share before trading on the Nasdaq Global Market.
Bitcoin Holdings and Treasury Strategy
Strive already holds 7,525 BTC, worth over $695 million as of early November, and ranks among the top corporate Bitcoin holders globally. The company’s strategy mirrors that of MicroStrategy, aggressively boosting its Bitcoin reserves in an effort to increase Bitcoin-per-share performance over time.
Earlier this year, Strive made headlines by revealing its intent to acquire up to 75,000 BTC through claims tied to the defunct Mt. Gox exchange. This plan, if executed, would significantly increase its Bitcoin footprint.
Strive is also pushing back against moves to sideline Bitcoin-focused firms. It recently sent a seven-page letter to MSCI, urging the index provider to reverse its proposal to exclude digital asset treasury companies from its global benchmarks. Strive argued such a move could cut off passive investors from major growth opportunities in the crypto sector.
Market Reaction and Stock Performance
Following the announcement, Strive’s Class A common stock (NASDAQ: ASST) rose by 3.57 percent, closing at $1.02. This uptick reflects growing investor enthusiasm for its Bitcoin strategy. Over the past year, the stock has traded between a high of $13.42 and a low of $0.34, showing considerable volatility that mirrors broader crypto market sentiment.
The SATA preferred shares also edged up slightly, closing at $91.15, reflecting investor confidence in the company’s income-generating structure and growth direction.
CoinLaw’s Takeaway
In my experience, few public companies have embraced Bitcoin as aggressively as Strive. What stands out is not just their BTC holdings but the intentional strategy to grow Bitcoin-per-share, a bold long-term bet on Bitcoin outperforming traditional asset classes.
Their use of a flexible ATM offering, paired with a double-digit dividend, is an innovative way to attract capital while staying laser-focused on crypto growth. I found their open challenge to MSCI especially bold, signaling that Strive wants to not only profit from Bitcoin but also shape how Wall Street treats crypto-native companies. This is more than just a treasury play. It is a financial and ideological stand in favor of Bitcoin’s mainstream integration.
