Strive (ASST) Stock: Bitcoin Treasury Company Unveils $500M Capital Raise

TLDR

• Strive Asset Management announced a $500 million preferred stock sale to fund Bitcoin purchases and business growth
• The company holds 7,525 BTC valued at $694 million, ranking as the 14th-largest corporate Bitcoin holder
• Strive will sell Variable Rate Series A Perpetual Preferred Stock (SATA) with a 12% annual dividend through an at-the-market program
• Class A shares (ASST) climbed 3.6% to $1.02 on Tuesday, more than doubling since January 2025
• The firm recently completed an upsized $160 million SATA IPO at $80 per share in November

Strive Asset Management revealed a $500 million at-the-market offering on Tuesday to fund additional Bitcoin acquisitions. The move positions the company to expand its cryptocurrency holdings through capital markets.

Strive, Inc., ASST

Co-founded by Vivek Ramaswamy in 2022, Strive entered sales agreements with Cantor Fitzgerald, Barclays and Clear Street. The firm will sell Variable Rate Series A Perpetual Preferred Stock (SATA) at prevailing market prices over time.

Strive stated it plans to use proceeds for general corporate purposes. This includes purchasing Bitcoin and Bitcoin-related products, funding working capital, and acquiring unspecified income-generating assets.

Building Bitcoin Holdings

The company currently owns 7,525 BTC worth approximately $694 million. This makes Strive the 14th-largest corporate Bitcoin holder globally.

Strive adopted the Bitcoin treasury model through a reverse merger in May 2025. The firm announced plans to acquire Semler Scientific in September, creating one of the largest corporate BTC holders.

The strategy mirrors the approach pioneered by Michael Saylor’s Strategy. Multiple public companies now use equity offerings to accumulate Bitcoin on their balance sheets.

Stock Market Response

Strive’s Class A common stock (ASST) rose 3.6% on Tuesday, closing at $1.02. Shares have surged more than 100% year-to-date.

The SATA preferred shares ended Tuesday at $91.15, up 0.088%. These shares carry a 12% annual dividend rate starting from November 10, 2025. Strive reserves the right to modify this rate.

The company closed an upsized SATA initial public offering on November 10. Strong demand pushed the deal to 2 million shares at $80 each, up from an initial target of 1.25 million shares.

Fighting for Index Inclusion

Strive CEO Matt Cole recently urged MSCI to include Bitcoin treasury companies in its stock indexes. The index provider consulted investors about potentially excluding firms with balance sheets containing over 50% digital assets.

Cole argued the market should decide whether to include these companies in passive investments. The move would affect Strive and other Bitcoin-focused public companies.

Since launching its first exchange-traded fund in August 2022, Strive Asset Management has grown to manage over $2 billion in assets. The firm describes itself as the first publicly traded asset management Bitcoin treasury company.

The at-the-market structure gives Strive and its agents flexibility to sell shares directly into the market. This differs from traditional offerings that set a fixed price for one large transaction.

As of November 7, Strive held 7,525 BTC according to its latest disclosure.

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