Strive Eyes $150M Capital Raise to Fuel Bitcoin Accumulation Push

Asset administration agency Strive has announced plans for a $150 million follow-on providing of its Variable Rate Series A Perpetual Preferred Stock, with proceeds earmarked primarily for Bitcoin acquisition and debt discount.

The Dallas-based firm, which presently holds roughly 12,798 BTC as of January 16, disclosed the capital increase on Wednesday as a part of its technique to transition towards a “perpetual-preferred solely amplification mannequin” whereas increasing its Bitcoin treasury operations.

The providing comes amid vital on-chain shifts in Bitcoin’s holder composition and heightened market volatility.

CryptoQuant data reveals that 2024 and 2025 marked “the biggest long-term Bitcoin provide launch in historical past,” with dormant cash held for over two years transferring at unprecedented charges.

Analysts interpret this as a elementary shift in possession from early holders centered on halving cycles to newer individuals pushed by macro components and liquidity concerns.

Strategic Debt Reduction and Treasury Expansion

Strive intends to deploy capital from the inventory sale alongside present money reserves and proceeds from terminating capped name transactions tied to Semler Scientific’s excellent $4.25% Convertible Senior Notes due 2030.

The firm plans to use funds for “the redemption, repurchase, reimbursement, satisfaction and discharge or different cost of all or a portion” of those convertible notes and Semler Scientific’s borrowings beneath its grasp mortgage settlement with Coinbase Credit Inc., in accordance to the announcement.

The agency is concurrently negotiating separate transactions with sure noteholders to alternate parts of the Semler Convertible Notes for shares of SATA Stock.

Strive expects to cut back the providing measurement proportionally if these exchanges proceed, although the corporate emphasised that “this providing will not be conditioned on the closing of any such alternate.“

Any accomplished exchanges can be performed beneath Section 4(a)(2) of the Securities Act as personal transactions not involving public choices.

Barclays and Cantor are serving as joint book-running managers for the providing, with Clear Street appearing as co-manager.

The sale follows regulatory protocols beneath an efficient shelf registration assertion filed with the Securities and Exchange Commission.

Market Dynamics Support Institutional Accumulation

The capital increase unfolds in opposition to a backdrop of continued institutional Bitcoin accumulation regardless of short-term worth volatility.

CryptoQuant analysis reveals that “since January, Bitcoin whales have continued to accumulate aggressively regardless of short-term volatility and corrective phases, whereas retail buyers have exited.“

Even after latest geopolitical escalation, whale holdings on a month-to-month foundation “haven’t declined however as a substitute continued to improve, indicating that the present part is structural accumulation slightly than distribution.“

Market circumstances stay combined, nonetheless.

Bitcoin’s estimated leverage ratio on Binance surged to roughly 0.184 close to the $90,000 worth degree, marking its highest studying since final November and reflecting “a notable return to leverage following a interval of relative threat aversion.”

This elevated borrowing amongst futures merchants will increase market susceptibility to sharp liquidation occasions throughout speedy worth actions in both course.

Asian markets opened higher today as Bitcoin edged towards $90,000 following President Donald Trump’s feedback indicating a “framework of a future deal” involving NATO over Greenland, easing speedy tariff issues.

Bitfinex analysts famous the main focus now facilities on stabilization indicators, together with flattening ETF flows, constructive spot taker cumulative quantity delta, and sustained worth motion above $90,000 with declining volatility.

Aggressive Treasury Strategy Follows Industry Leaders

Strive’s enlargement follows vital company strikes to accumulate Bitcoin.

The firm beforehand introduced a $500 million preferred stock offering in December 2025 and completed a merger with Semler Scientific in an all-stock transaction valued at a 210% premium.

The mixed entity now pursues Bitcoin-per-share progress to “outperform Bitcoin over the long term,” in accordance to Chairman and CEO Matt Cole.

Strategy, led by Michael Saylor, purchased 22,305 BTC for approximately $2.13 billion between January 12-19 at a mean worth of $95,284 per coin, bringing whole holdings to 709,715 Bitcoin.

Michael Saylor’s @Strategy purchased 22,305 $BTC for $2.13B at $95,284 per coin, lifting whole holdings to 709,715 bitcoin.#Strategy #Bitcoinhttps://t.co/orZmJ4iT5E

— Cryptonews.com (@cryptonews) January 20, 2026

Meanwhile, 91-year-old burger chain Steak ‘n Shake additionally entered corporate Bitcoin ownership with a $10 million treasury buy, establishing a “Strategic Bitcoin Reserve” that channels all Bitcoin obtained from Lightning Network funds straight into holdings slightly than changing to money.

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