Strive’s SATA preferred stock is expected to raise about $55 million for the week ended October 5, an amount that could buy roughly 638 Bitcoin at about $82,800 each. According to ChainCatcher, total SATA trading volume for the week was about $317 million.
SATA traded above its $100 par value for most of Monday and Tuesday, then stayed below par from Wednesday through Friday, prompting a pause in issuance activity. Strive and Strategy said an 8-K filing submitted on Monday will confirm how much Bitcoin was actually purchased with the funds.
Strive held 29,462 Bitcoin as of October 2 and bought 2,000 Bitcoin between September 28 and October 2 at an average price of about $84,422. Strategy did not sell any STRC between September 28 and October 4, and instead bought 334 Bitcoin through sales of MSTR common stock.
