Strive Surpasses Daily Bitcoin Production with Record Acquisition

Strive, Inc., a Dallas-based corporate treasury and structured finance company, has made headlines with its impressive acquisition of bitcoin through its Variable Rate Series A Perpetual Preferred Stock (Nasdaq: SATA). In a single day, the company's at-the-market program absorbed an estimated 490 bitcoin, exceeding the Bitcoin network's daily production of approximately 450 BTC. This remarkable achievement solidifies Strive's position as a major player in the digital asset market.

The milestone was reached through Strive's innovative use of preferred equity to accumulate bitcoin at scale. The company issues Variable Rate Series A Perpetual Preferred Stock, which pays cash dividends on each business day at a 13 percent stated annual rate. Proceeds from SATA offerings fund large bitcoin purchases, retirement of convertible notes, and repayment of a Coinbase Credit loan.

Strive's treasury now holds over 16,500 BTC, making it one of the largest bitcoin holders in the industry. The company's founder, Vivek Ramaswamy, established Strive as a vehicle for 'digital credit' strategies, with CEO Matthew Cole leading the current treasury design and capital markets playbook.