Strive Buys $36.6M in Bitcoin, Holdings Reach 25,000 BTC

Strive's use of preferred stock to fund bitcoin accumulation marks a distinct capital-structure choice, layering a fixed claim ahead of common equity onto a volatile reserve asset. Pushing SATA's notional value past $1 billion signals that this funding channel is scaling, not a one-off. The question worth watching is whether preferred issuance remains available on terms that keep the carry manageable if bitcoin's price stagnates, since the obligation is to preferred holders regardless of the asset's performance.