Strive, Inc. bought 469 Bitcoin between September 8 and 11 for approximately $36.6 million, paying an average of $77,954 per coin and bringing its treasury to 25,000 BTC. The Nasdaq-listed asset management firm funded the entire purchase through issuances of its Variable Rate Series A Perpetual Preferred Stock, trading under SATA, without issuing common shares. The holdings are worth roughly $1.95 billion at current prices, representing about 0.119% of Bitcoin’s 21 million-coin supply and making Strive the fifth-largest public Bitcoin holder. SATA investors buy shares at $100 and receive an approximately 13% annualized variable dividend paid daily on business days. Outstanding SATA notional value has exceeded $1.04 billion, including about $40.3 million raised in the latest round. Strive’s amplification ratio, measuring preferred equity and debt against Bitcoin net asset value, stands at 53.5%. The company’s Bitcoin strategy accelerated after its January 2026 merger with Semler Scientific added 5,048 BTC to its balance sheet. Strive was co-founded by Vivek Ramaswamy and has since shifted from asset management toward a Bitcoin treasury model. For common shareholders, the strategy increases Bitcoin-backed net asset value while creating an ongoing dividend obligation; the economics depend on Bitcoin appreciation exceeding SATA’s roughly 13% annual cost.