Strive to Boost ATM Capacity by $4.2B to Finance More Bitcoin Buys

Strive is set to expand its capital-raising firepower by $4.2 billion as the Bitcoin treasury firm looks to fund additional BTC purchases, extending one of the most aggressive accumulation efforts among publicly traded corporate holders. CEO Matt Cole said Strive plans to lift the size of both its ASST and SATA at-the-market (ATM) programs by $2.1 billion each. The larger ATM authorizations would give the company more flexibility to issue securities into the market and allocate proceeds to its Bitcoin strategy. Strive emphasized that ATM capacity reflects potential issuance, not capital already raised. "Strive expects to increase the size of both the ASST and SATA ATM programs by $2.1 billion each, reflecting a sustained increase in liquidity and demand for both securities. We will provide a balance sheet update tomorrow premarket," Cole wrote on X. The update follows Strive's SATA preferred stock raise of about $194 million last week, which the company said is equivalent to roughly 2,621 BTC at current prices. Strive currently holds about 16,500 BTC, valued at around $1.27 billion, placing it among the largest public Bitcoin treasury companies. According to BitcoinTreasuries.net's public-company leaderboard, Strive ranks seventh among listed corporate Bitcoin holders with 16,500 BTC. The companies ahead are Strategy, the largest holder with more than 843,000 BTC, followed by Twenty One Capital, Metaplanet, MARA Holdings, Bitcoin Standard Treasury Company and Bullish. SATA becomes the funding centerpiece SATA has become a key pillar of Strive's approach. The company launched its Variable Rate Series A Perpetual Preferred Stock in November 2025, with the IPO increased to 2 million shares from an initial target of 1.25 million shares. At the time, Strive said it had purchased 1,567 BTC at an average price of $103,315 and held 7,525 BTC as of Nov. 10, 2025. "The successful IPO of the SATA Stock makes Strive the first Bitcoin treasury company to finance its Bitcoin amplification exclusively through perpetual preferred equity, and the second overall, after Strategy, to issue a publicly traded perpetual preferred equity security," Cole said then. "While Strive only went public in September, we've quickly shown the market both the speed and the precision our team operates with to drive longterm value to our shareholders, with Bitcoin as our hurdle rate." SATA has since taken on a larger role in the company's capital structure. Strive's website says SATA's 13% APR monthly dividend schedule is slated to shift to payments every business day starting June 16, 2026, raising the frequency from 12 payments a year to roughly 250. Strive has also said it targets a $99 to $101 trading range for SATA and maintains cash and marketable securities reserves to support dividend payments. Strive CIO Ben Werkman wrote on X late Monday: "More than $100M in volume on the exdividend date, with a closing price of $99.56, down just 0.44% from par. Continued progress for SATA." At press time, BTC traded at $69,894.