Strive (ASST) Eyes $4.2B War Chest to Ramp Up Bitcoin Accumulation

Strive, Inc. (ASST) announced Monday plans to expand its capital raising capacity by $4.2 billion to accelerate Bitcoin accumulation, increasing both its Class A common stock and Variable Rate Series A Perpetual Preferred Stock programs by $2.1 billion each. CEO Matt Cole confirmed the expansion on X, noting the move reflects sustained liquidity and demand for the securities, with a balance sheet update scheduled for Tuesday. The company aims to bring its Class A common stock ATM capacity to $2.55 billion and its SATA preferred stock capacity to $2.6 billion, a significant increase from the $500 million program launched in December 2025. This expansion comes as Strive holds approximately 16,500 BTC valued at $1.27 billion, ranking seventh globally among public companies with Bitcoin treasuries.

Strive raised over $194 million in the week ending May 24, 2026, acquiring approximately 2,624 Bitcoin, which more than doubled its previous weekly purchase record. During this period, the company's SATA instrument absorbed an estimated 453 BTC in a single session, representing 101% of the daily Bitcoin mining supply. The ATM model, which converts proceeds to Bitcoin in real-time, mirrors the structure pioneered by Strategy but relies exclusively on perpetual preferred equity rather than convertible debt. Strive has added over 3,700 BTC to its treasury since January 2026, following the acquisition of Semler Scientific. The expansion remains subject to amended prospectus filings and corporate approvals, with shares surging more than 133% over the past three months.