Strive raises $86M through SATA as Bitcoin treasury buying continues

Strive has generated an estimated $85.88 million through sales of its SATA preferred stock over three trading sessions, enough to buy about 1,002 Bitcoin at prices recorded by BitcoinTreasuries.net. Summary BitcoinTreasuries.net estimates that SATA sales raised $85.88 million from Sep. 21 to Sep. 23. Its estimated Bitcoin figure is based on trading data, not a confirmed Strive purchase. Strive last reported holding 26,355 BTC after buying 1,355 BTC in the prior week. Strategy bought 950 BTC in its latest reported week while using cash to repurchase STRC shares. BitcoinTreasuries.net’s SATA tracker estimates how many shares Strive issues through its at-the-market program by examining trading volume while SATA is at or above its $100 stated value. It then estimates net proceeds after sales commissions and divides that amount by Bitcoin’s price during the session. The tracker’s figure is therefore an estimate of potential buying power; Strive’s next disclosure would establish any actual purchase and its cost. Strive’s SATA sales are estimated at $85.88 million For Sep. 21, the tracker estimates that Strive sold about 284,000 SATA shares and received $27.69 million in net proceeds. At an average Bitcoin price of $86,001, that sum would cover approximately 321.97 BTC. The largest of the three estimated sessions came on Sep. 22. BitcoinTreasuries.net puts net proceeds at $36.08 million from roughly 370,000 shares, equivalent to about 418.27 BTC at an average price of $86,266. On Sep. 23, estimated sales of another 226,700 shares produced $22.11 million. The tracker calculates that the proceeds could buy 261.43 BTC at an average price of $84,556. Together, the three daily estimates come to $85.88 million and 1,001.67 BTC. You might also like: Strategy resumed Bitcoin buying, but Strive gained more BTC per share Those daily share counts are estimates of issuance through the program, rather than a count confirmed in a new company filing. BitcoinTreasuries.net says it calibrates its model against Strive’s subsequent disclosures. Its method also separates potential SATA issuance from ordinary trading between investors, which does not send money to Strive. The distinction matters because proceeds raised on a given day need not pay for a Bitcoin trade on that same day. Strive also holds cash and can use more than one source of funding. An estimated BTC equivalent should not be added to the company’s reported holdings before Strive discloses a purchase. Strive’s last filing put its treasury at 26,355 BTC Strive’s most recent reported acquisition covered Sep. 14 through Sep. 18, when it bought 1,355 BTC for approximately $107.7 million at an average of $79,475 per coin. The purchase lifted its disclosed balance from 25,000 BTC to 26,355 BTC. At the time, its SATA shares outstanding increased by 786,194, while cash and equivalents rose to approximately $229.6 million.