Strive just made its latest bitcoin funding deal bigger. The company increased this preferred stock sale from 5 million shares to 7 million shares, priced at $90 each, pushing the raise to $630 million.
This is not common stock. It is Strive’s 15% Series A perpetual preferred, known as SATS, with a cumulative 15% dividend. The company added 2 million shares after launching the deal at 5 million, signaling stronger demand than it first planned for.
The money is set to go toward more bitcoin purchases, along with general corporate use. Strive is leaning on capital markets to keep expanding its bitcoin treasury, and this larger raise gives it more firepower to do that.