Strive is continuing to expand its Bitcoin treasury. The company disclosed that it plans to add $2.1 billion each to its at-the-market fundraising projects related to ASST and SATA, for a total of $4.2 billion in new funding capacity, to be used for subsequent Bitcoin purchases.

This statement came from Strive CEO Matthew Cole on June 1st on the X platform. Cole stated that the reason for expanding the funding round was increased liquidity in both types of securities and increased investor demand. The company also plans to release an updated balance sheet before the US stock market opens on Tuesday.

A purchase was just completed in late May.

Prior to announcing its expanded funding round, Strive had already disclosed its latest round of Bitcoin purchases. According to the company's 8-K filing on May 26, Strive purchased 1,109 BTC between May 19 and 22, totaling approximately $85.4 million, at an average purchase price of approximately $76,988 per BTC.

Following this transaction, Strive's Bitcoin holdings rose to 16,500. According to the data cited in the article, this surpasses Coinbase's 16,492 and Riot Platforms' 15,680.

ASST and SATA are the main financing tools

Strive currently does not rely on traditional borrowing as its core strategy. Instead, it primarily raises funds through ASST and SATA securities, which are then used to purchase more Bitcoin. These two tools have become a core part of its Bitcoin treasury model.

Among them, the Series A perpetual preferred stock, codenamed SATA, raised approximately $194.3 million the previous week. Based on the market price at the time, this amount could roughly support the purchase of about 2,621 BTC.

To enhance product appeal, SATA's dividend yield has recently risen to 13%. This level is higher than the current 11.50% yield of Strategy's STRC preferred stock.

Strategy sold a small amount of 32 BTC.

Unlike Strive, which continues to raise funds to increase its holdings, Strategy recently disclosed a small Bitcoin sale. The company's 8-K filing on Monday showed that it sold 32 BTC, worth approximately $2.5 million, in the last week of May.

Strategy stated that the proceeds from the sale are expected to be used for distributions related to its preferred stock offering. This sale represents a small percentage of its overall holdings, but it marks the company's first disclosed sale of Bitcoin since completing a tax-related transaction in December 2022.