Strike Stock reveals that it launched a $500 million SATA share repurchase program after purchasing

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How Strive builds its Bitcoin position

Strive purchased 2,000 bitcoins between September 28 and October 2, at a total cost of approximately $169 million, the company's largest purchase since early June. Currently, the company holds 29,462 bitcoins worth approximately US$2.5 billion, ranking fifth among public bitcoin holders.

On October 5, Strive disclosed an optional plan to repurchase SATA preferred shares with a face value of up to US$500 million. The $500 million repurchase cap is $215.3 million more than Strive reported a cash balance of $284.7 million. SATA's current annualized dividend yield is approximately 13%, and share buybacks are expected to reduce future dividend costs.

The Nasdaq-listed Bitcoin treasury company completed the deal last week, making it its largest purchase in four months. According to filings with the U.S. Securities and Exchange Commission (SEC), Strive's average price per bitcoin during this period, including fees, was approximately $84,422, totaling approximately $169 million.

As of October 2, Strive held 29,462 bitcoins. Based on approximately US$86,000 each, the value of these positions is approximately US$2.5 billion. The largest previous similar purchase occurred between May 23 and June 1, when 2,500 bitcoins were purchased, bringing the total position held to 19,000.

Strive was co-founded by Vivek Ramaswamy to raise funds from investors and hold Bitcoin instead of cash. In September 2025, Strive agreed to acquire healthcare technology company Semler Scientific, which holds approximately 5,000 bitcoins. Shareholders approved the transaction in January, resulting in a consolidated position of approximately 12,800 bitcoins. By late April, open positions had increased to 14,557, reaching 20,246 in mid-August.

The value of Strive's position has increased by 48% since July 2. Among public Bitcoin holders, Strive ranks fifth behind Strategy, Twenty One Capital, Metaplane and MARA. Documents show that as of the end of September, the average cost of Strive Bitcoin was $90,170 per coin, which is higher than Monday's Bitcoin transaction price of approximately $86,000.

SATA dividends and new repurchase plan

In recent weeks, Strive has raised funds mainly by selling SATA, a type of preferred stock. During the week ending September 4 and September 25, SATA provided 70% and 85% of the funding, respectively. Each SATA has a face value of $100 and currently pays a dividend of approximately $13 per share per share. This interest rate is subject to change and cash payments require approval by the board of directors.

Under SATA's terms, dividends will accrue even if no dividend has been declared. Strive reported that as of October 2, the number of SATA shares was 13,498,082 shares, up from 12,193,180 shares on September 25.

10 月 5 日，Strive 披露了一项可选计划，拟回购高达 5 亿美元的 SATA 股份。该文件允许管理层不时回购股份。这 5 亿美元的回购上限比公司截至 10 月 2 日报告的 2.847 亿美元现金多出 2.153 亿美元。Strive 没有债务，并表示计划保持无负债状态。

该计划并不要求 Strive 花费全额资金。注销 SATA 股份可能会减少未来的股息支付，但用于回购的资金将无法用于购买更多比特币。SATA 的条款允许市场回购与可选赎回分开进行，可选赎回的基础价格为每股 110 美元加上未付股息。新计划并未为每次回购设定 110 美元的价格。

截至 10 月 5 日的文件显示，Strive 尚未报告任何完成的 SATA 回购交易。该文件也未列出专门的资金来源或该计划的时间表。