Strive, Inc. has achieved a significant milestone with its Variable Rate Series A Perpetual Preferred Stock, known as SATA (Nasdaq: SATA), by acquiring an estimated 490 bitcoin through its at-the-market program on a recent Wednesday. This figure notably surpasses the approximate 450 BTC that the global Bitcoin network typically produces in an average day. This daily production rate, established at the April 2024 halving, remains constant until the next halving expected in 2028, with miners earning 3.125 BTC per block across roughly 144 blocks daily.

This achievement places Strive in a unique position, as its SATA program absorbed more than the entire daily Bitcoin issuance through a single equity instrument in a single session. On that Wednesday, Strive’s Bitcoin for Corporation’s SATA Tracker dashboard reported approximately $66.9 million in total volume, an impressive 13% yield, and 95% of the volume above the $100 par threshold, which is the minimum price at which Strive's board permits share issuance. With an estimated 58% capture rate, the ATM proceeds reached approximately $35.3 million, with bitcoin spot prices at $74,956.

The company's bitcoin acquisition momentum extends beyond this single day. In the week ending May 24, SATA recorded a weekly high of approximately 794 BTC acquired. The revised estimate of 475 BTC for that specific Wednesday marks the instrument’s second confirmed daily supply absorption event within an eight-day period. Further data from an 8-K filing confirmed that between May 18 and May 26, SATA generated $50 million in total proceeds and added roughly 650 BTC to Strive’s treasury, maintaining a 48% capture rate for that filing window. Strive’s most recent SEC filing additionally verified the purchase of 1,109 bitcoin between May 19 and May 22 at an average cost of approximately $76,989 per coin, elevating the company's total holdings to 16,500 BTC.

Strive, a Dallas-based corporate treasury and structured finance company, is actively transforming into a bitcoin-centric entity. It leverages preferred equity to accumulate bitcoin at scale by issuing Variable Rate Series A Perpetual Preferred Stock, branded as SATA. This preferred stock is designed to pay cash dividends on each business day at a 13 percent stated annual rate, which compounds through frequent distributions. By opting for preferred stock instead of traditional debt, Strive seeks long-duration funding that aligns with bitcoin’s inherent long-duration profile. The proceeds from SATA offerings are strategically used to fund substantial bitcoin purchases, facilitate the retirement of convertible notes from its Semler Scientific acquisition, and repay a Coinbase Credit loan, thereby ensuring the company’s bitcoin stack remains unencumbered. Founder Vivek Ramaswamy established Strive to pursue “digital credit” strategies, with CEO Matthew Cole currently overseeing the treasury design and capital markets playbook.