In a significant financial maneuver, Strive has reported that it has successfully retired 92% of the debt it inherited from its acquisition of Semler Scientific. In tandem with this achievement, the company has expanded its Bitcoin holdings by acquiring an additional 334 BTC, following its recent Variable Rate Series A Perpetual Preferred Stock offering, known by its ticker “SATA.”
The announcement highlights a remarkable demand for the preferred shares, which led to an increase in the offering size. Originally targeting $150 million, Strive ultimately raised $225 million due to approximately $600 million in demand. These preferred shares function as long-duration equity financing, thereby allowing Strive to accumulate Bitcoin without incurring additional debt.
The completion of Strive’s acquisition of Semler Scientific occurred on January 13, 2026, after a merger agreement reached in September. Semler had previously operated as a Bitcoin treasury firm, aligning well with Strive’s strategic vision. The company noted its intent to utilize the proceeds from the stock offering, along with available cash and funds from unwinding hedging positions, to further reduce liabilities while amplifying its exposure to Bitcoin.
Following the retirement of $110 million in inherited debt—comprised of $90 million in convertible notes converted into SATA stock and a complete payoff of a $20 million credit facility from Coinbase—Strive confirmed that its Bitcoin holdings are now free from encumbrances. The company aims to eliminate the remaining $10 million of debt within four months.
Strive’s recent Bitcoin acquisition included 333.9 BTC at an average price of $89,851, bringing its total holdings to an impressive 13,132 BTC. At current market valuations, this stash is estimated to be worth approximately $1.17 billion, positioning Strive among the top corporate holders of Bitcoin globally. The firm reported a yield of 21.2% on Bitcoin quarter-to-date, a key metric it employs to gauge the growth of its Bitcoin exposure per common share over time.
Despite the notable balance sheet improvements, Strive’s stock experienced a downturn, with shares falling by 2.23% on Wednesday to a price of $0.80. This marks a dramatic decline of over 92% from its peak of $10.46 recorded after the announcement of its Bitcoin-focused strategy. The fluctuations of Strive’s stock underscore the volatility that accompanies corporate treasury operations concentrated on digital assets.
The trend of corporate Bitcoin treasuries gained momentum in 2024 and early 2025; however, many companies have seen their stock prices erode in subsequent months as investor confidence wavered regarding the sustainability of this model. Currently, over 190 publicly traded companies maintain Bitcoin on their balance sheets, collectively holding around 1.134 million BTC, which represents about 5.4% of the total Bitcoin supply. Notably, a significant portion of these holdings can be attributed to Michael Saylor’s Strategy, which has maintained a robust acquisition strategy amidst challenging broader market conditions.
