Crypto Journalist
Amin Ayan
Crypto Journalist
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Bitcoin treasury firm Strive said it has retired the vast majority of the debt it assumed from its recent acquisition of Semler Scientific and added to its Bitcoin holdings following the close of a preferred stock offering.
Key Takeaways:
- Strive retired 92% of the debt inherited from its Semler Scientific acquisition and bought 334 more Bitcoin.
- Strong demand pushed its preferred stock raise to $225 million, funding Bitcoin purchases without added leverage.
- The company now holds 13,132 BTC worth about $1.17 billion, ranking it among the top corporate Bitcoin holders.
The company said Wednesday it retired 92% of the debt inherited in the deal and purchased an additional 334 Bitcoin after completing its Variable Rate Series A Perpetual Preferred Stock offering, which trades under the ticker “SATA.”
Strive Upsizes Preferred Stock Raise to $225M on Strong Demand
Strive reported roughly $600 million in demand for the offering, prompting it to increase the size of the raise from an initial target of $150 million to $225 million.
The preferred shares are structured as long-duration equity financing, allowing the company to fund Bitcoin accumulation without taking on additional leverage.
The Vivek Ramaswamy-backed firm finalized its acquisition of Semler Scientific on Jan. 13, following a merger agreement reached in September. Semler had previously operated as a Bitcoin treasury company before the transaction.
Earlier this month, Strive said it planned to use proceeds from the offering, along with existing cash and potential funds from unwinding hedging positions, to reduce liabilities and expand its Bitcoin exposure.
The company confirmed that $110 million of the inherited debt has now been retired, including $90 million in convertible notes exchanged for SATA stock and the full repayment of a $20 million credit facility provided by Coinbase.
With the Coinbase loan paid off, Strive said its Bitcoin holdings are now fully unencumbered. The company added that it plans to eliminate the remaining $10 million of debt within the next four months.
The latest Bitcoin purchase totaled 333.9 BTC at an average price of $89,851, lifting Strive’s total holdings to 13,132 BTC.
At current market prices, the stash is valued at roughly $1.17 billion, placing Strive among the top 10 corporate Bitcoin treasury holders.
Strive also disclosed a Bitcoin yield of 21.2% quarter-to-date, a metric it uses to measure the growth of Bitcoin exposure per common share over a given period.
Despite the balance sheet improvements, the market reaction was muted. Shares of Strive fell 2.23% on Wednesday to $0.80, according to Google Finance data.
The stock is now down more than 92% from its peak of $10.46 following the announcement of its Bitcoin-focused strategy, underscoring the volatility tied to corporate treasury plays centered on digital assets.
Corporate Bitcoin treasuries surged in popularity throughout 2024 and early 2025, but many companies saw their share prices slide later in the year as investors questioned the durability of the model.
More than 190 publicly traded companies now hold Bitcoin on their balance sheets, collectively owning about 1.134 million BTC, or roughly 5.4% of the total supply.
Nearly two-thirds of those holdings belong to Michael Saylor’s Strategy, which has continued buying Bitcoin even as broader market conditions have tightened.
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