Strive announces plan to buy 175,000 BTC

Strive, a Bitcoin strategic accumulation firm and asset manager, plans to purchase 175,000 BTC through an additional issuance of its SATA shares, Odaily reported. The model for SATA is similar to that of MicroStrategy's (MSTR) preferred stock, STRC, where new shares are issued to buy BTC whenever the price exceeds its $100 par value. Strive CEO Jeff Walton said the company is raising an average of $8.1 million per day.