Strive Inc. Completes IPO, Boosts Bitcoin Treasury to 7,525
Strive Inc. has successfully completed the initial public offering (IPO) of its Variable Rate Series A Perpetual Preferred Stock, or “SATA,” marking a significant milestone in the company’s long-term treasury strategy. The company’s balance sheet now boasts an impressive 7,525 Bitcoin, solidifying its position as a major player in the cryptocurrency market.
The SATA listing on Nasdaq has raised $160 million through a 2 million-share IPO, with the company’s management stating that the capital will be used to further amplify its Bitcoin holdings. This move demonstrates Strive’s commitment to its Bitcoin-focused strategy, which involves managing over $2 billion in assets through its wholly owned subsidiary, Strive Asset Management, LLC.
The company’s recent acquisition of 1,567 BTC at an average price of $103,315 has expanded its existing treasury, with the total value of its Bitcoin holdings now exceeding $800 million. Strive’s CEO, Matt Cole, noted that the successful IPO of the SATA Stock makes Strive the first Bitcoin treasury company to finance its Bitcoin amplification exclusively through perpetual preferred equity.
Strive’s Bitcoin-Focused Strategy
Strive’s approach to Bitcoin is centered around its scarcity, liquidity, and transparency, making it an attractive asset for long-duration, risk-conscious investments. The company’s Chief Risk Officer, Jeff Walton, emphasized the importance of applying advanced mathematical risk controls to its Bitcoin-based balance sheet, leveraging lessons from conventional finance to minimize risk and maximize returns.
As a publicly traded Bitcoin treasury and asset management firm, Strive is well-positioned to capitalize on the growing demand for cryptocurrency investments. The company’s designation as a Well-Known Seasoned Issuer (WKSI) by the U.S. Securities and Exchange Commission (SEC) provides it with significant flexibility in accessing capital through a wide array of financing options.
Key Highlights
- Strive listed SATA on Nasdaq, raising $160 million through a 2 million-share IPO.
- The company now holds 7,525 Bitcoin, including 1,567 BTC acquired recently at $103,315 each.
For more information on Strive’s SATA listing and its Bitcoin-focused strategy, please visit the original source link: https://crypto.news/strive-lists-sata-on-nasdaq-with-7525-bitcoin-holdings/
