Strive, a Bitcoin treasury company, finished its initial public offering of SATS preferred stock on Oct. 20, 2026. The company raised $630 million before costs. The offering was made larger than first planned. Matt Cole is Strive's chairman and CEO.
Strive has not said how much of the money will go into Bitcoin. Cointelegraph estimates that the net proceeds could buy about 7,372 BTC. If Strive put all of it into Bitcoin, it could hold more than Metaplanet, another Bitcoin treasury company.
What we know: the size of the raise, the date it closed and the type of stock sold. What we don't know: whether Strive will buy Bitcoin with this money, how much it would buy and when. Until the company says, the comparison with Metaplanet is only an estimate.
If you already hold a perpetual position on Bitget, Bybit, MEXC or OKX, this news changes nothing directly. It is a stock offering with no Bitcoin purchase announced, so nothing here touches funding rates, trading fees or order-book liquidity on those exchanges. That could only change if Strive announces an actual purchase, and so far it has not.
Source: cointelegraph — Strive closes $630M SATS IPO, leaves Bitcoin allocation unspecified
Price today: Bitcoin