Strive, Inc. (ASST) acquired 6,182 bitcoin for $511.4 million between October 17 and October 23, according to an SEC filing published on Monday, October 26. The company paid an average price of $82,732 per bitcoin, lifting its total holdings to 43,000 BTC. Cash and marketable securities rose by $187.7 million to $554.6 million over the same period.

JUST IN Public company Strive purchases 6,182 Bitcoin for $511.4 million! pic.twitter.com/5KImRceLzA
— Bitcoin Magazine (@BitcoinMagazine) October 26, 2026

The purchase came one week after Strive closed its upsized initial public offering of SATS, its 15% Perpetual Series A Preferred Stock. The company sold 7 million shares at $90 each for $630 million in gross proceeds, after opening the deal with a $500 million target and raising its size by 2 million shares on investor demand. The stock trades on the Nasdaq.

Dividends on SATS accrue at 15% on a $100 stated amount, which works out to a 16.67% yield at the issue price. Payments, if declared by the board, start on November 9 and land on each business day. Strive has set aside a $157.5 million dividend reserve, enough to cover 18 months of payments on the new shares.

A $1 Billion ATM for SATS

The Monday filing also disclosed a new at-the-market (ATM) program under which Strive can sell up to $1 billion of SATS over time. Cantor Fitzgerald, Barclays, Clear Street, StoneX, B. Riley Securities, Maxim Group and H.C. Wainwright serve as sales agents.

The structure mirrors the program Strive built for SATA, its first preferred stock, which carries a variable dividend and pays cash each business day. Strive established a $500 million ATM for SATA in December 2025; that vehicle absorbed more than the entire daily bitcoin mining supply on a single day in May — a comparison that carries weight because bitcoin's issuance schedule is fixed by protocol, releasing new supply at a set pace no matter how much treasury companies buy.

Under the SATS program, Strive can issue preferred shares when demand supports the price and route the proceeds into bitcoin. According to the filing, proceeds may fund bitcoin purchases, income-generating assets, working capital, share buybacks or acquisitions. Any drawdown of the new $1 billion capacity will surface in future SEC filings, the same channel Strive has used to report each round of purchases.

Strive's Climb Up the Treasury Rankings

The latest purchase continues a rapid expansion of Strive's bitcoin treasury over the past year. Strive went public as a bitcoin treasury company in 2025 through a reverse merger and completed its all-stock acquisition of Semler Scientific in January, the first case of one public bitcoin treasury company buying another. Holdings stood near 7,525 BTC in December 2025 and have since grown to more than five times that amount.

The company reported 36,818 BTC on October 20 after a purchase of 4,045 BTC between October 12 and 16. Monday's filing adds 6,182 BTC to that total.

Strive funds its purchases through common and preferred equity issuance and carries no debt: no bonds, no credit lines and no leveraged positions — leaving the pace of accumulation tied to how much equity investors are willing to buy rather than to borrowed money.

Chairman and CEO Matt Cole called the SATS IPO "a critical milestone in our strategy to maximize long-term total returns for our common equity investors."

Strategy, the largest corporate bitcoin holder with 848,517 BTC, proposed daily dividends across its five preferred stocks in September, and Strive's SATA and SATS vehicles follow the same daily-payout architecture. The structure pairs income for preferred shareholders with a standing funding channel for new bitcoin purchases.

This article first appeared on Bitcoin Magazine and was written by Micah Zimmerman.