In a bold move to expand its footprint in the cryptocurrency market, Strive Asset Management has announced a $500 million at-the-market stock offering. This strategic initiative aims to facilitate the acquisition of more Bitcoin and Bitcoin-related products, reinforcing the company’s position within the digital asset landscape.
On Tuesday, Strive entered into sales agreements with renowned financial institutions including Cantor Fitzgerald, Barclays, and Clear Street, marking a significant step in their capital raise strategy. The firm plans to utilize Variable Rate Series A Perpetual Preferred Stock (SATA) for this initiative, which has a robust annual dividend rate of 12%. This structure allows Strive the flexibility to sell shares at market prices over time, rather than in one bulk transaction, providing agility in response to market conditions.
The proceeds from this offering are earmarked for broad corporate purposes, particularly to acquire additional Bitcoin and related assets, as well as to support general working capital needs. Although the company has not disclosed specific asset targets, the intention to invest in income-generating properties is clear.
This approach aligns with a broader trend echoed by notable figures in the space, particularly Michael Saylor, who has famously leveraged equity to boost Bitcoin acquisition strategies among public companies. Strive has rapidly risen through the ranks and is currently the 14th-largest corporate holder of Bitcoin, boasting 7,525 BTC valued at approximately $694 million.
The firm’s transition to a Bitcoin treasury model took shape through a public reverse merger in May 2025. Strive’s recent announcement regarding plans to acquire Semler Scientific underscores ambitions to evolve into one of the largest corporate holders of Bitcoin.
Since launching its first exchange-traded fund in August 2022, Strive Asset Management has amassed over $2 billion in assets under management, reflecting robust growth and investor interest.
Market reactions have been favorable, with Strive’s Class A common stock (ASST) climbing 3.6% to close at $1.02 on Tuesday, more than doubling in value since the start of 2025. Meanwhile, the SATA preferred shares ended the day at $91.15, a marginal increase of 0.088%. The regular dividend period for the preferred shares commenced on November 10, 2025, though Strive retains the right to adjust the dividend rate in the future.
Significantly, during a recent discussion, Strive’s CEO, Matt Cole, urged MSCI to include Bitcoin treasury companies in stock market indexes, following consultations indicating a potential exclusion of firms with more than 50% of their balance sheets in crypto assets. As of November 7, Strive confirmed its holdings of 7,525 BTC, highlighting the company’s ongoing commitment to its Bitcoin acquisition strategy.
As Strive embarks on this capital-raising venture, the developments signal an intensified corporate interest in Bitcoin, with implications that may resonate throughout the financial markets in the coming months.
