Vivek Ramaswamy-backed Tesla has overtaken Elon Musk’s Tesla in bitcoin holdings after adding 179 bitcoins to its coffers.
According to an announcement on Wednesday, Strive now has about 13,311 Bitcoins, worth about $940 million. By comparison, Tesla held its assets steady at 11,509 BTC as of the end of 2024.
The new funding makes Strive the 11th largest corporate bitcoin holder behind CleanSpark, which recently topped 150 BTC.
In addition to the BTC treasury update, Strive unveiled a number of updates designed to strengthen its preferred stock offering. The company increased the dividend yield on SATA preferred stock by 25 basis points to 12.75% and announced a quarterly payment of $1.0625 per share.
The company also lowered SATA’s target trading range to $99 to $101, down from $95 to $105 previously, and pledged to avoid issuing new shares through an IPO or follow-on offering above the $100 threshold.
These moves reflect management’s intent to reduce volatility and improve perceived credit quality for income-focused investors in the digital asset space.
Strive also announced that it spent $50 million to acquire 500,000 shares of Strategy Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).
Jeff Walton, Chief Risk Officer of Strive, noted that the incorporation of STRC will allow Strive to leverage its attractive risk-return characteristics, improve capital efficiency and strengthen financial stability, while continuing a disciplined strategy for short- and medium-term capital management.
The purchase extends the company’s dividend reserve runway for SATA to 18 months, covered by 12 months of cash and cash equivalents, plus an additional six months by STRC shares at current market prices.
Management noted that the cumulative reserves across Bitcoin, STRC and cash now cover more than 19 years of SATA interest payments through March 9, 2026.
“We believe digital credit can be a multi-trillion dollar opportunity, and each update today aims to improve credit quality and lower the expected volatility profile of our digital credit product, SATA,” said Strive CEO Matthew Cole.
