Strive (ASST) announced a $4.2 billion expansion to its Bitcoin-buying capital programs, doubling down after setting weekly purchase records. The firm now holds 16,500 BTC worth $1.27 billion, good for seventh place among publicly listed companies worldwide. Its stock price jumped 133% over three months as the strategy drew heavy investor interest.
Breaking Weekly Records
Strive scooped up 2,624 BTC in the week ending May 24, 2026, using $194 million from its SATA program. That shattered its prior weekly high of 371 coins. The firm even gobbled up 453 Bitcoin on a single late-May day, matching 101% of the entire network's mining output that day. Since January, Strive added over 3,700 BTC to its treasury.
Funding Through Preferred Equity
Strive's approach stands apart. It funds Bitcoin buys exclusively through its Variable Rate Series A Perpetual Preferred Stock instead of convertible debt. The new expansion adds $2.1 billion to both its common stock and SATA programs. This model has clearly worked—it let Strive accelerate purchases after acquiring Semler Scientific earlier this year.
Expansion Awaits Final Approvals
The $4.2 billion boost isn't active yet. Strive still needs to file amended prospectuses and get internal approvals. Once cleared, the company can ramp up buying beyond its current pace. They've leaned hard on the SATA instrument for quick capital, showing how they want to move faster than peers.
Strive expects the amended filings to complete this month, letting it start deploying the new capital immediately. That timeline puts pressure on the firm to keep pace with Bitcoin's volatility while competing for the same coins as other public buyers.
