Strive, Inc. (ASST) recently achieved a significant milestone, surpassing expectations by absorbing an estimated 453 Bitcoin (BTC) through its preferred stock instrument, SATA. This figure represents approximately 101% of the entire daily Bitcoin mining supply, marking the first time such a full-supply absorption event has occurred since May 14. This remarkable achievement coincided with what STRC.live tracking data identified as the biggest volume day in SATA’s history, with around 384,000 shares traded via Strive’s at-the-market (ATM) program. The single-day total of roughly 408 BTC alone broke the previous record of approximately 404 BTC, set just the prior Friday, with Tuesday’s afternoon session still in progress when the new record was established. An additional 3 BTC beyond the daily mining total were sourced from secondary market sellers responding to open demand.

The context for this achievement lies in Bitcoin’s fourth halving, which took place in April 2024. This event halved the block subsidy, reducing it to 3.125 BTC. Consequently, global miners now produce roughly 450 BTC in fresh supply every 24 hours, based on an average of 144 blocks per day. Strive’s SATA preferred stock, which boasts a 13% annual dividend rate and is set to begin paying cash distributions every business day starting June 16 – a first for Wall Street – has effectively transformed this fixed daily supply into a target.

The mechanism behind SATA is straightforward. When the preferred stock trades at or above its $100 par value, Strive issues new preferred shares through its ATM program. The proceeds from these sales are then directly converted into Bitcoin. Strive has publicly committed to not issuing SATA below its $100 par value, thereby concentrating buying pressure into specific windows when market demand pushes the stock above this crucial threshold. On the record-breaking Tuesday, market demand surged, activating the ATM engine to run at full throttle.

Just a few weeks prior, SATA was largely considered a secondary player in the Bitcoin preferred-equity landscape, often overshadowed by Strategy’s dominant STRC instrument. However, this perception has quickly become outdated. In the week ending May 24, SATA acquired an estimated 794 BTC, more than double its previous weekly record of 371 BTC set at the beginning of May. This acquisition translated into a substantial 5.16% week-on-week increase for Strive’s overall Bitcoin treasury.

In comparison, Strategy, during the same week, added approximately 24,869 BTC to its holdings. While a significantly larger absolute number, against its substantial 818,869 BTC base, this represented a 3.04% proportional gain. To match Strive’s percentage-growth pace in that particular week, Strategy would have needed to purchase an estimated 42,250 BTC within seven days, which is approximately 17,400 BTC more than it actually acquired. Despite this, Strategy remains the undisputed leader in absolute Bitcoin holdings, with an estimated 843,738 BTC. JPMorgan even projects that Strategy could deploy roughly $30 billion in Bitcoin acquisitions throughout 2026. Nevertheless, on the specific metric Strive has chosen to emphasize – Bitcoin per share, rather than total Bitcoin holdings – the gap between the two firms is noticeably narrowing.

The growing prominence of SATA has not gone unnoticed by industry leaders. Michael Saylor, Strategy’s executive chairman and the visionary behind the corporate Bitcoin treasury model, publicly endorsed SATA last week. He lauded it as “the most interesting story in Bitcoin right now,” specifically highlighting the ascendance of SATA in the credit markets and ASST in the equity markets as a development worthy of close observation.