Strive Seeks $150M to Boost Bitcoin Holdings and Strengthen Financials
Strive Aims to Raise $150M to Enhance Bitcoin Portfolio
Strive, backed by entrepreneur Vivek Ramaswamy, announced plans to raise $150 million through a follow-on offering of its Variable Rate Series A Perpetual Preferred Stock (SATA Stock).
The Dallas-based firm intends to allocate the proceeds to reduce debt, acquire Bitcoin and related assets, and propel corporate growth.
This move aligns with Strive’s strategy to optimize its financial structure while bolstering its Bitcoin-focused investment approach.
Last week, shareholders approved Strive’s acquisition of Semler Scientific, a deal poised to add over 5,000 Bitcoin to its reserves.
Currently, Strive holds around 7,750 BTC, valued at roughly $697 million at current market rates.
Upon finalizing the acquisition, Strive's Bitcoin holdings will rise to 12,798 BTC, surpassing those of companies like Tesla and Trump Media & Technology Group, making it the 11th-largest corporate Bitcoin holder.