Strive Raises $630M in Upsized Sale of 15% Fixed-Rate Preferred Stock
Strive has increased the size of its preferred stock offering to raise funds for additional Bitcoin purchases.
Strive has increased the size of its preferred stock offering to raise funds for additional Bitcoin purchases. Bitcoin (BTC) is trading at $81,970.00. This is an original TLT brief synthesising 2 outlets (Unchained, CoinCodex), with their figures cross-checked, plus live market data, as of Fri, 16 Oct 2026 14:15:02 UTC.
This significant capital raise will enable Strive to expand its Bitcoin treasury, potentially increasing institutional adoption and impacting Bitcoin's price dynamics. The offering's strong demand, as evidenced by the upsizing, signals continued institutional interest in crypto-backed financial products.
- Strive raised $630M by selling 7M shares of 15% preferred stock at $90 each.
- The offering was upsized by 2M shares from the original plan.
- Funds will be used to purchase more Bitcoin, potentially impacting BTC price.
- Bitcoin is currently at $81,982, up 1.83% in the last 24 hours.
Both Unchained and CoinCodex report that Strive has raised approximately $630 million by selling 7 million shares of its 15% fixed-rate preferred stock, SATS, at $90 per share. They agree that the offering was upsized by 2 million shares from the initial plan. However, while both mention that the funds will be used for Bitcoin purchases, CoinCodex emphasizes the potential impact on Bitcoin's price, while Unchained focuses on the pricing details of the offering relative to its dividend basis.
Strive has successfully completed an upsized sale of its 15% fixed-rate preferred stock, SATS, raising approximately $630 million. The company sold 7 million shares at $90 each, which is 2 million shares more than originally planned.
The offering price of $90 per share is below the $100 amount that the dividend is based on, indicating a potential discount to attract investors. The 15% fixed rate of the preferred stock suggests a high yield, which could be appealing to income-focused investors.
Multiple outlets, including Unchained and CoinCodex, corroborate the $630 million figure and the 15% rate. They also agree that the funds will be used to purchase more 
Bitcoin, which could have implications for the cryptocurrency's price and institutional adoption.
This move comes amid a broader market context where the total crypto market cap stands at $2.83 trillion, with Bitcoin currently priced at $81,982, representing a 24-hour increase of 1.83%. The Fear & Greed index is at 63, indicating a state of 'Greed' among investors.
The successful upsizing of the offering suggests strong investor demand for crypto-related financial products. It also underscores Strive's commitment to expanding its Bitcoin treasury, which could influence market dynamics and institutional interest in Bitcoin.
Since this brief published about 4 hours ago, Bitcoin (BTC) has moved from $81,982.00 to $81,970.00 — -0.01%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BTC ≈ ₦111.84M (about $81,970.00), up 1.1% over 24 hours. The naira itself trades about 2.5% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
2 key figures independently matched across 2 outlets reporting this story.
TLT extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Strive Raises $630M in Upsized Sale of 15% Fixed-Rate Prefer — questions & answers
How much did Strive raise from the stock offering?
Strive raised approximately $630 million by selling 7 million shares of its 15% preferred stock.
What will Strive use the raised funds for?
The funds will be used to purchase more Bitcoin, potentially increasing the company's crypto holdings.
Why was the offering upsized?
The offering was upsized by 2 million shares due to strong investor demand, as indicated by the successful completion at $90 per share.
How much is 1 Bitcoin worth in naira today?
About ₦111.84M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $81,970.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Unchained, CoinCodex, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.