Bitcoin treasury company Strive, Inc. (Nasdaq: ASST) acquired 1,223 BTC for approximately $100 million during October 14–16, 2026, then announced the completed $630 million initial offering of its SATS preferred stock on October 20. These are separate transactions: the new offering’s proceeds should not be mistaken for Bitcoin already purchased.

• 1,223 BTC purchased at an average of $81,734 per coin, including fees.
• 36,818 BTC held as of October 16, after 4,045 BTC in purchases that week.
• $630 million gross raised through 7 million SATS preferred shares priced at $90 each.
• 15% annual dividend rate calculated against $100 stated value per SATS share, subject to declared-payment terms.

Bitcoin Holdings Reach 36,818 BTC

Strive’s October 19 Form 8-K shows that the 1,223 BTC purchase followed an earlier 2,822 BTC acquired on October 12–13. Together they total 4,045 BTC for the week, not 4,045 BTC plus another 1,223. The holdings increased from 32,773 BTC on October 9 to 36,818 BTC on October 16. Cash and cash equivalents totaled $317.5 million on October 16, before the SATS closing.

Last Wed-Fri, Strive acquired 1,223 BTC at an average cost of $81,734 per bitcoin, bringing holdings to ₿36,818.

– SATS IPO proceeds settle this Tuesday
– Strive plans to maintain current 18-month dividend reserve
– Traditional warrants are expired$ASST $SATA $SATS pic.twitter.com/FwzPfCJ5Tq

— Matt Cole (@ColeMacro) October 19, 2026

What The $630 Million Offering Means

According to Strive’s October 20 closing announcement, investors bought 7 million shares of 15% Series A Perpetual SATS Preferred Stock for $90 apiece. The 15% rate applies to each share’s $100 stated amount, implying $15 in annual accrual per share, or $105 million across all offered shares; actual dividend payments are governed by the security’s terms and board declarations. Scheduled business-day dividend dates begin November 9.

The company says net proceeds may fund Bitcoin or Bitcoin-related investments, other income-generating assets, working capital, or repurchases. It has not specified how much of the $630 million will buy Bitcoin. SATS is junior to Strive’s SATA preferred stock but senior to common shares in the stated capital structure.

🔥 BIG: Strive raised $630 million through its SATS preferred stock IPO, with the company saying proceeds may be used for Bitcoin purchases but not specifying how much. pic.twitter.com/YGSORn1V21

— Cointelegraph (@Cointelegraph) October 20, 2026

A Growing Corporate Treasury Strategy

The purchase extends Strive’s earlier 3,311-BTC accumulation report. The company joins a longer financing trend explored by BitcoinVersus.Tech in its 2024 coverage of a $2 billion equity-financed Bitcoin plan and its 2023 report on Boyaa’s $100 million Bitcoin investment plan. See also the 2026 public-company treasury ranking for broader context.

Preferred equity avoids some conventional debt maturities but still creates financing costs and dividend expectations. Investors must weigh Bitcoin price swings, common-share dilution, preferred-share seniority and available liquidity. Bottom line: the disclosed 1,223-BTC purchase is complete, while any additional Bitcoin buying funded by SATS remains a future possibility.

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