Trading in Strive's SATA preferred stock generated enough funding capacity to buy roughly 1,192 Bitcoin this week, according to an estimate published by BitcoinTreasuries.NET on Aug. 28. Strive has not confirmed any matching Bitcoin purchase so far, and the figure remains a third-party model projection rather than a company disclosure.

The running total climbed after U.S. markets opened on Friday, with SATA activity in the first two hours of trading adding estimated capacity for more than 100 BTC. At weekly Bitcoin prices of $78,000 to $80,000, acquiring 1,192 BTC would require approximately $93 million to $95 million.

JUST IN: Strive's $SATA has funded over 100 #Bitcoin in purchases again today, less than two hours into trading. Projected at 1,192 bitcoin:native and counting funded from $SATA alone this week. pic.twitter.com/09tRDG4own — BitcoinTreasuries.NET (@BTCtreasuries) August 28, 2026

Why SATA Trading Above $100 Matters for Strive

Strive filed an 8-K covering Bitcoin purchases made from Aug. 24 through Aug. 28. Final proceeds could differ from estimates because of issuance costs, Bitcoin prices, and the share of eligible trading volume the company actually captures. Future 8-K filings are the primary way investors can verify how closely the tracker's projections match actual purchases.

BitcoinTreasuries.NET tracks SATA volume traded at or above the security's $100 stated value and applies an estimated capture rate based on earlier regulatory filings. The model estimates how many shares the company may sell through its at-the-market offering, a mechanism that lets a company issue new shares directly into the market over time rather than through a single priced deal.

Under Thursday's estimate, the figure stood at 1,084 BTC following $50 million of SATA daily volume. The additional volume from Friday's session raised the projection to 1,192 BTC.

SATA carries a stated value of $100 and pays a floating annual dividend rate, which the company currently maintains at 13% per annum. Payments are made on each business day after approval by the board of directors.

The company has stated it will not issue SATA below its $100 par value, since doing so would raise less capital than the stated amount and dilute existing preferred stockholders. Issuance above par keeps the door open for selling the preferred stock. (Source: GlobeNewswire)

SATA fell to $79.01 during a selloff of Bitcoin-linked securities in June. The decline made it impossible for Strive to use the program under its terms for several weeks, illustrating how dependent this funding channel is on the preferred stock maintaining its price. SATA subsequently recovered, reaching $100.01 by Aug. 21. BitcoinTreasuries.NET estimated that activity on Aug. 20 and Aug. 21 generated the ability to purchase 440 BTC.

Strive listed SATA on the Nasdaq in November 2025 through an upsized offering of two million shares at $80 per share. In June, the company increased its available ATM capacity for SATA to $2.6 billion.

How Much Bitcoin Does Strive Hold?

A filing on Aug. 24 showed that Strive acquired 1,110 BTC in the previous week at a cost of $81.5 million, an average of $73,409 per coin. The purchase lifted the company's holdings from 20,246 BTC to 21,356 BTC.

Shares outstanding of SATA rose by 441,313 in the same quarter, while shares outstanding of ASST increased by 3,646,300. The filing did not break down how much of the purchase came from share issuance proceeds versus existing cash.

Strive held 7,525 BTC when SATA began trading in November 2025. By Aug. 21, disclosed holdings had grown by 13,831 BTC, or 184%.

SATA and ASST provide different exposures to the company's Bitcoin strategy. Preferred holders receive dividends when declared and rank above common holders, though the perpetual shares have no maturity date. Common holders face dilution from future issuance and are exposed to Bitcoin price movements and the cost of financing.

Strive reported a net loss of $257.6 million in the second quarter, of which roughly $234 million stemmed from the reduced fair value of its Bitcoin and STRC holdings. The company had no short-term or long-term debt as of Aug. 7.