Strive, a Bitcoin treasury firm, announced a $4 billion capital‑raising initiative to accelerate its Bitcoin purchases. The firm expects to increase the size of both its $ASST and $SATA ATM programs by $2.1 billion each, reflecting rising liquidity and demand. With the $4.2 billion raised, Strive could acquire around 60,000 BTC at current prices of $70,000 per BTC, scaling its holdings from 16,500 BTC to over 50,000 BTC and potentially surpassing Metaplanet to rank among the top three Bitcoin treasury firms. Strive's stock ASST slipped following the news, while broader market sentiment towards BTC treasury firms turned negative after Strategy's $2.5 million BTC sale.
Bitcoin treasury firm Strive has announced a $4 billion capital‑raising plan to accelerate its BTC purchases. Furthermore, Strive CEO Matt Cole stated: Strive expects to increase the size of both the $ ASST and $ SATA ATM programs by $2.1 billion each, reflecting a sustained increase in liquidity and demand for both securities.
This meant the firm would increase the sale of its primary stock, ASST, and its preferred stock, SATA, to raise $4.2 billion. For those unfamiliar, Strive’s SATA functions like Strategy’s Stretch but distinguishes itself by offering a higher 13% interest rate to attract investors. At press time, SATA’s market cap has surged to $426 million, which is relatively small compared to Strategy’s STRC size of +$10 billion.
However, the sales are geared towardsAt current prices of $70K per BTC, if the $4.2B capital is raised and deployed, the firm could acquire about 60K BTC. Strive is the world’s seventh-largest Bitcoin treasury firm, with 16,500 BTC. Scaling its stash to over 50K BTC would effectively flip Metaplanet and place it in the top three. The firm’s stock ASST slipped 2.6% on Monday and closed at $17.2 after the update.
It dropped even further by 1% to $17.0 in pre-market hours as BTC slipped lower. Even so, there has been negative sentiment across X against BTC treasury firms. On the 1st of June, Strategy reported that it sold $2.5 million BTC for the first time in three years. Tiny sales today just to prep the market for bigger sales to come.
$STRC, $MSTR, and $BTC cannot all win together. Just foreshadowing today that someone is going to lose here at the expense of the others. Although some framed the Strategy sell‑off as a tax‑harvesting move, the update still triggered a 4% drop in BTC. At the same time, short sellers intensified pressure by attempting to break the $70K support level.to fund its stock buyback and boost its mNAV .their BTC treasury plans, further casting doubt on the segment.
Despite the rebalancing and shifts, overall treasury firms scaled BTC holdings by 1.8% to 1.24 million in the past thirty days. Analysts warned that Strategy’s sell-offs could intensify in the coming weeks
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