Strive sets up $1 billion ATM program for SATS preferred stock

What happened

Strive set up a $1 billion at-the-market program for its SATS preferred stock, which means shares can be sold over time. Proceeds can fund general corporate needs, including Bitcoin purchases. This follows its first SATS raise closing and fresh Bitcoin buys.

Confirmed

Global impact / market context

The program gives Strive a way to raise cash gradually for its Bitcoin treasury strategy, which means it can buy more coins over time. Selling preferred stock pays a fixed 15% dividend, so new capital carries an ongoing cost that ordinary borrowing would not.

Analyst inference

Strive's Bitcoin buying at an average cost of about $82,732 per coin, with holdings now at 43,000 BTC, shows investors how the company links fundraising to coin demand. A $1 billion shelf signals capacity for further purchases without announcing specific timing.

Analyst inference

What to watch

1. Strive disclosed Bitcoin purchases at an average cost of approximately $82,732 per coin, including fees, and said total holdings reached 43,000 BTC, up from 36,818 BTC as of mid-October 2026. Confirmed
2. The company said proceeds from the $1 billion at-the-market program can fund general corporate needs, and Bitcoin purchases are included on that list of possible uses. Proposed
3. Watch how much of the $1 billion program Strive actually sells and whether the cash goes into Bitcoin, because that would connect fundraising directly to further coin purchases and the 15% dividend cost. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• cryptobriefing.com