Strive Raises Holdings to 36,818 Bitcoin, Expands Preferred Stock Offering
Key Facts
Strive increased its holdings to 36,818 bitcoin after adding 4,045 bitcoin during the purchasing week, according to a filing with the U.S. Securities and Exchange Commission dated October 19, 2026. Holdings stood at 32,773 bitcoin at the end of the previous week, according to the balance table in the filing. The increase is part of the company's strategy to increase bitcoin per share, with the aim of outperforming the cryptocurrency over the long term. Strive said in a statement on its commitment to supporting the bitcoin network that it is "focused on increasing bitcoin per share to outperform bitcoin over the long term." That stated objective guides the company's accumulation of the digital currency, alongside a preferred stock offering whose intended uses of proceeds include bitcoin purchases.
The weekly increase included a final tranche of 1,223 bitcoin purchased by Strive from October 14 to 16, 2026, according to the same purchase filing. The average price for that tranche was about $81,734 per bitcoin, including fees and expenses associated with the purchase. By comparison, the company had purchased about 3,311 bitcoin from October 5 to 9, 2026, according to an earlier filing dated October 13. The average price of those purchases was about $84,500 per bitcoin, also including fees and expenses. The average cost of the latest tranche was therefore below the average for the previous week's purchases, while the total weekly increase in holdings exceeded that week's purchase volume.
On financing, Strive announced the pricing of an upsized offering of 7,000,000 shares of its perpetual preferred stock, which trades under the ticker SATS. The company said in its pricing statement that the new size includes an increase of 2,000,000 shares from the previously announced amount. It set the public offering price at $90 per share, the issue price of the preferred stock in this offering. It estimated expected gross proceeds at about $630 million, before underwriting discounts and commissions and offering expenses. Proceeds to the company after underwriting discounts and commissions amount to $609,000,000, according to the offering prospectus filed with the U.S. regulator, before other offering expenses.
The offering prospectus listed bitcoin purchases among the intended uses of net proceeds, alongside other corporate purposes. The purchase of the digital currency appeared in the prospectus under the phrase "acquisition of bitcoin," among the purposes to which Strive intends to allocate the funds. Alongside the preferred stock offering, the company announced in a filing dated October 14, 2026, the exercise of traditional warrants tied to its common stock. A total of 273,493,909 warrants were exercised to purchase 13,674,703 shares of Class A common stock. Strive estimated expected gross proceeds from those warrant exercises at about $369.2 million, in a financing transaction tied to common stock alongside the perpetual preferred stock issuance.
The preferred stock terms include dividends that accrue at an annual rate of 15.00%, according to the offering prospectus filed with the U.S. Securities and Exchange Commission. That rate applies to a stated amount of $100 per share, the basis specified in the prospectus for calculating dividends. Strive intends to increase its dividend reserve at the closing of the offering to cover the first 18 months, under its announced arrangements. The targeted reserve increase amounts to $22.50 per SATS share to cover dividends during that period. The company says it will use existing cash and securities to increase the reserve, alongside its plan to use the net issuance proceeds to buy bitcoin and for other corporate purposes.
Against the backdrop of these financing moves, Strive recorded a net loss of $257.6 million under U.S. generally accepted accounting principles for the three months ended June 30, 2026. According to the preferred stock pricing statement, settlement of the issuance and sale of SATS shares was scheduled for October 20, 2026, subject to customary closing conditions. The company set November 9, 2026, as the start of regular preferred dividend payment dates, following the scheduled settlement date. Those dividend payment dates fall on every business day, according to the schedule in the company's offering statement. Payment remains subject to declaration by the board of directors and the availability of legally available funds for that purpose, under the announced dividend terms.