Strive's SATA Breaks Records: Buys an Estimated 371 Bitcoin This Week

Strive's SATA perpetual preferred stock has had a record-breaking week. The instrument hit new highs, with an estimated 184.54 Bitcoin bought on Wednesday alone, pushing the weekly estimate total to 370.97 Bitcoin.

According to our data at BitcoinTreasuries.net, the total net new ATM proceeds this week reached an estimated $28.25 million across three trading days — Tuesday, Wednesday, and Thursday.

Stats for the week:

• Thursday: 171.51 BTC, net ATM proceeds $13.09M, daily volume $53.42M

• Wednesday: 184.54 BTC, net ATM proceeds $14.03M, daily volume $33.55M

• Tuesday: 14.92 BTC, net ATM proceeds $1.13M, daily volume $22.69M

Total: 370.97 BTC

Track it all on BitcoinTreasuries.net:

SATA Tracker — Minute-by-minute accumulation, yield, price, and buying activity using our SATA BTC Accumulation Tracker

Demand is now expected to pause for a few weeks because today marks SATA’s ex-dividend date. Investors who buy shares from today onward will not receive the upcoming dividend payment, removing much of the immediate economic incentive to push the price above par and trigger fresh ATM issuances. This pause is well-anticipated, and it likely contributed to the aggressive buying we saw ahead of the cutoff — many investors front-loaded their purchases knowing a temporary blackout period was coming.

As a result, capital may now rotate out of SATA into other preferred stocks, such as STRC, which is expected to soon start trading above par again following its strong performance last month. The familiar cycle between the two instruments continues.

However, Strive CEO Matt Cole has previously floated the idea of shifting SATA to bi-weekly dividend payments on offsetting dates from STRC. A structure like that — if implemented — could deliver holders of both instruments a payout nearly every week without needing to sell shares. That kind of consistent income flow, backed by Bitcoin as the underlying reserve asset, is exactly the pitch Strive is making to retail and institutional audiences alike.

Similar to Strategy’s announcement to switch to bi-weekly (semi-monthly) dividend payments, Strive (which owns exposure to STRC) has seen momentum building around more frequent payouts. In theory, shorter gaps between ex-dividend dates would reduce the “blackout” periods where buying interest dries up, allowing capital to flow back into each instrument more quickly and supporting steadier ATM activity over time.

Whether SATA can maintain its rhythm above par after the ex-date remains the key question. This week’s surge shows the flywheel is spinning strongly when conditions align. With Bitcoin as the treasury benchmark and preferred stock mechanics providing flexible capital, Strive continues to demonstrate a disciplined approach to accumulation.