Strive Asset Management announced a $500 million at-the-market stock offering to fund additional Bitcoin acquisitions. The company entered sales agreements with Cantor Fitzgerald, Barclays and Clear Street on Tuesday.
The Nasdaq-listed firm plans to sell Variable Rate Series A Perpetual Preferred Stock (SATA) to raise capital. The ATM structure gives Strive flexibility to sell shares at market prices over time rather than in one fixed-price transaction.
Strive co-founder Vivek Ramaswamy’s company stated it will use proceeds for general corporate purposes. This includes acquiring more Bitcoin and Bitcoin-related products plus working capital needs.
The company also mentioned plans to purchase income-generating assets. However, Strive did not specify which assets it targets.
The capital raise follows a strategy popularized by Michael Saylor’s Strategy (formerly MicroStrategy). Multiple public companies now use equity markets to accumulate Bitcoin on their balance sheets.
Strive currently ranks as the 14th-largest corporate Bitcoin holder. The firm owns 7,525 BTC worth approximately $694 million at current prices.
The company pivoted to a Bitcoin treasury model through a public reverse merger in May 2025. In September, Strive announced plans to acquire Semler Scientific, which would create one of the largest corporate BTC holders.
Strive Asset Management launched its first exchange-traded fund in August 2022. The firm now manages over $2 billion in assets.
Strive’s Class A common stock (ASST) rose 3.6% on Tuesday to close at $1.02. The stock has more than doubled in value since January 2025.
The SATA preferred shares closed Tuesday at $91.15, up 0.088%. Strive set the dividend rate for SATA at 12% per annum.
The regular dividend period started on November 10, 2025. The company retains the right to adjust this rate in the future.
Strive closed an upsized SATA IPO on November 10 at $80 per share. Strong investor demand pushed the offering to 2 million shares from an initial target of 1.25 million shares.
Earlier in December, Strive CEO Matt Cole pushed MSCI to include Bitcoin treasury companies in stock market indexes. MSCI had consulted with investors about potentially excluding companies with balance sheets containing more than 50% crypto assets.
Strive held 7,525 BTC as of November 7, according to the company’s press release announcing the new capital raise program.
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