TLDR
- Strive seeks $4.2 billion in added ATM capacity to support further corporate Bitcoin purchase programs.
- ASST and SATA programs would each gain $2.1 billion under the proposed ATM capacity expansion.
- The company holds about 16,500 BTC, valued near $1.27 billion at reported May price levels.
- Recent SATA proceeds reportedly supported purchases equal to more than 2,600 Bitcoin last week alone.
- Strategy sold 32 Bitcoin for preferred dividends as Strive proposed additional buying capacity through ATMs.
Strive, the seventh-largest corporate Bitcoin treasury company, has proposed a $4.2 billion increase in at-the-market capacity to support additional Bitcoin purchases through its ASST and SATA programs. The company plans to add $2.1 billion to each program, giving it a larger funding channel as it continues to build its BTC treasury strategy through public market offerings.
Chief Executive Matt Cole said the proposed expansion reflects stronger liquidity and demand for both securities. The company is expected to provide a balance sheet update before the next market open, while the increase remains subject to amended prospectus filings and required corporate approvals.
Once completed, the ASST common stock ATM program would have about $2.55 billion in capacity, while the SATA preferred stock ATM program would have about $2.6 billion.
Strive Plans Larger ATM Funding Capacity
At-the-market programs allow companies to sell securities directly into public markets over time, rather than through a single large offering. Strive has used this structure to raise capital for Bitcoin purchases, with proceeds from ASST and SATA directed toward expanding its digital asset reserves.
The proposed increase would give the company more flexibility to buy BTC when market conditions allow, although it does not require immediate purchases. Strive currently holds about 16,500 Bitcoin, valued at around $1.27 billion based on reported market prices.
The company has added more than 3,700 BTC since the start of 2026, supported by funding from its securities programs and its broader treasury expansion plan. Its Bitcoin accumulation strategy gained pace after its acquisition of Semler Scientific, which helped increase its position among publicly traded corporate holders.
SATA Proceeds Support Recent BTC Purchases
During the week ended May 24, Strive raised about $194 million through its SATA preferred stock offering. That amount was reported as equal to roughly 2,621 Bitcoin at prevailing prices.
The company also used SATA proceeds for one trading-day purchase estimated at 453 BTC, showing how its preferred stock program has become a central part of its Bitcoin acquisition model.
Strive’s preferred equity structure differs from the approach used by Strategy, the largest corporate Bitcoin holder, which has relied heavily on other capital-market tools as part of its treasury model. On the same day Strive’s expansion plan drew attention, Strategy reportedly sold 32 Bitcoin worth about $2.5 million to cover preferred stock dividend obligations.
The sale represented a small portion of Strategy’s holdings, but it drew market attention because it came during a period of pressure across Bitcoin-linked corporate treasury names.
ASST Shares Trade Lower After Announcement
ASST shares closed Monday at $17.18, down $0.49, or 2.77%, after recovering part of a weaker morning session. The decline came as investors assessed Strive’s proposed capital expansion, Bitcoin’s price movement, and the broader performance of companies tied to corporate BTC treasuries.
The company did not state that the share move was caused by the proposed ATM increase. The planned $4.2 billion capacity increase places Strive among the more active corporate Bitcoin buyers in the public market.
The company’s next balance sheet update is expected to provide more detail on its BTC holdings, available cash, recent purchases, and remaining ATM capacity under existing programs.
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