Strive Buys 3,311 BTC and Launches 15% Preferred Stock SATS
- —Strive bought 3,311 BTC at an average of ~$84,500, raising holdings to 32,773 BTC
- —SATS: 5 million shares at $100, fixed 15% dividend, targeting $500 million
- —Investors exercised $208 million in warrants; ~15.3 million expire October 13
- —SATA's $100 minimum issuance price is now binding in governing documents
Why it matters: Strive climbed from under 20,000 to 32,773 BTC in three months, reinforcing the corporate bitcoin treasury model pioneered by Strategy.
Source: CoinCentral