Vivek Ramaswamy Strive Plans $150M Bitcoin Treasury Expansion

Strive, Inc., the asset management firm co-founded by Vivek Ramaswamy, is planning a major Bitcoin expansion. The company announced a proposed $150 million follow-on public offering of its Variable Rate Series A Perpetual Preferred Stock. The ticker is SATA. The announcement shows that the offering depends on market conditions. Strive plans to use the funds to strengthen its balance sheet. At the same time, it wants to buy more Bitcoin. The move shows Strive’s long term belief in Bitcoin as a treasury asset.

Capital raise targets debt and more Bitcoin

Strive said the main goal of the raise is to reduce debt. The company plans to repay or redeem several obligations. These include Semler Scientific’s 4.25% Convertible Senior Notes due in 2030. Strive guarantees these notes after its recent acquisition. Strive also plans to repay borrowings from Coinbase Credit.

JUST IN: Vivek Ramaswamy's Strive $ASST is raising $150 million through a follow-on offering of perpetual preferred stock $SATA to buy more #Bitcoin. pic.twitter.com/AcIoggePvo

— BitcoinTreasuries.NET (@BTCtreasuries) January 22, 2026

After covering debt, Strive will use the remaining funds to buy more Bitcoin and Bitcoin-related products. It will also use part of the capital for working capital and general business needs. Importantly, this strategy avoids heavy dilution of common shareholders. Instead, Strive continues to raise capital through preferred shares. In short, the firm wants more Bitcoin without hurting its existing investors.

Semler deal boosts Strive’s Bitcoin stack

Earlier this month, Vivek Ramaswamy’s Strive completed its all-stock acquisition of Semler Scientific. The deal closed in early January 2026. Through the acquisition, Strive added more than 5,000 BTC to its treasury. As of mid January, Strive now holds around 12,798 BTC. This makes it the 11th largest public corporate Bitcoin holder in the world.

The company now holds more Bitcoin than Tesla and Trump Media. This also marks Strive’s rise as one of the fastest growing Bitcoin treasury firms in the market. Vivek Ramaswamy’s firm says its mission is simple. Maximize Bitcoin per share, then outperform Bitcoin over the long term. Strive calls itself the first publicly traded asset manager built around a Bitcoin treasury model.

Bitcoin strategy gains investor support

This is not Strive’s first Bitcoin focused raise. In November 2025, the company raised $160 million through the same SATA preferred stock. Since then, SATA has traded above $100 per share. It also offers a dividend yield near 12.25%. This yield has drawn interest from income focused investors. At the same time, it supports Strive’s aggressive Bitcoin strategy. 

Vivek Ramaswamy’s company continues to use mergers, acquisitions and preferred stock to grow its Bitcoin stack. This approach reflects a wider trend. More companies now treat Bitcoin as a reserve asset. They see it as protection against inflation and currency risk.

Still, the strategy carries risks. Bitcoin prices remain volatile. Dividend costs can rise and preferred shares depend on market demand. But Strive is doubling down. With another $150 million on the table, the firm is sending a clear message. It believes Bitcoin is the future of corporate treasury and it is building for that future today.