Vivek Ramaswamy’s Strive Launches $500M Preferred Stock Sale to Fuel Bitcoin Accumulation Strategy

• Why Is Strive Raising $500M Through Preferred Stock?
• How Did Strive Build Its 7,525 BTC Treasury?
• Is Strive Copying MicroStrategy’s Playbook?
• What’s Next for Strive’s Bitcoin Strategy?
• FAQs: Strive’s Bitcoin Gambit

Strive Asset Management, led by Vivek Ramaswamy, is making waves in the crypto space with its aggressive bitcoin accumulation strategy. The firm recently filed to sell up to $500 million in Series A preferred stock (ticker: SATA) to fund Bitcoin purchases, operational expenses, and potential acquisitions. This move mirrors MicroStrategy’s playbook, as Strive aims to build a corporate Bitcoin treasury. With 7,525 BTC already on its balance sheet and plans to acquire more, Strive is positioning itself as a major player in the institutional Bitcoin adoption narrative. Here’s a deep dive into their strategy, funding mechanisms, and what it means for the market.

Why Is Strive Raising $500M Through Preferred Stock?

On December 9, 2025, Strive filed with U.S. regulators to issue and sell up to $500 million in variable-rate, perpetual Series A preferred shares (SATA). The proceeds will be used for general corporate purposes, including Bitcoin acquisitions, working capital, income-generating asset purchases, stock buybacks, and debt repayment. The At-the-Market (ATM) structure allows Strive to sell shares incrementally, adapting to market conditions rather than flooding the market all at once. This flexibility is crucial for minimizing dilution while maximizing capital efficiency. As someone who’s tracked corporate Bitcoin strategies since MicroStrategy’s first move, I see this as a savvy way to avoid the volatility pitfalls of lump-sum offerings.

How Did Strive Build Its 7,525 BTC Treasury?

Strive’s Bitcoin journey began in May 2025 with a reverse merger announcement to go public via a Nasdaq-listed shell company. By September 2025, it completed a stock-swap merger with Semler Scientific, adding 5,816 BTC to its treasury at an average price of ~$116,047 per coin. Then, between October 28 and November 9, 2025, Strive scooped up another 1,567 BTC at ~$103,315 each, funded by its first SATA offering and warrant exercises. Fun fact: That November buying spree coincided with Bitcoin’s post-halving consolidation phase—a timing win. Now, with 7,525 BTC (~$775M at current prices), Strive is doubling down with this new $500M raise. Data from CoinMarketCap shows their holdings already place them among the top 20 corporate Bitcoin treasuries globally.

Is Strive Copying MicroStrategy’s Playbook?

Absolutely—and they’re not hiding it. Michael Saylor’s MicroStrategy (now rebranded as Strategy) pioneered the corporate Bitcoin treasury model, amassing 660,624 BTC (over 3% of supply). Like Strategy, Strive leverages equity offerings, debt instruments, and strategic mergers to fund Bitcoin purchases. But here’s the twist: Strive’s ETF arm (launched August 2022) manages $2B+ in assets, giving it unique liquidity advantages. While ETFs trade spot Bitcoin, treasury firms like Strive and Strategy use balance sheet gymnastics to maximize long-term gains. The risk? If Bitcoin tanks, losses compound faster than a DeFi leverage farm. As a BTCC analyst noted, “This isn’t your grandma’s HODL strategy—it’s high-stakes financial engineering.”

What’s Next for Strive’s Bitcoin Strategy?

Three things to watch: First, their pursuit of 75,000 BTC from Mt. Gox claims—a potential game-changer. Second, how they deploy the $500M (will they buy the dip or chase rallies?). Third, whether they’ll emulate Strategy’s debt-for-Bitcoin moves. One thing’s clear: Ramaswamy isn’t just dabbling. As TradingView charts show, Strive’s BTC acquisitions align with institutional accumulation trends post-2024 halving. My bet? They’ll hit 15,000 BTC by Q2 2026—unless Elon Musk tweets something unpredictable.

FAQs: Strive’s Bitcoin Gambit

How does Strive’s ATM offering work?

The At-the-Market structure lets Strive sell SATA shares gradually via broker-dealers at prevailing market prices, avoiding the price pressure of a bulk offering.

Why preferred stock instead of debt?

Preferred shares don’t mature like bonds, and their variable rates adapt to Fed policies—crucial in today’s volatile rate environment.

Is Strive’s Bitcoin price average competitive?

At ~$110K/BTC, they’re paying a premium vs. early adopters but still below retail panic-sell levels during the 2024 bear market.