Strive’s SATA Briefly Swallows the Entire Bitcoin Mining Daily Supply As BTC Purchases Ramp Up

Strive, Inc.'s preferred stock instrument, SATA, has achieved a significant milestone by absorbing approximately 453 BTC in a single day, which represents about 101% of the entire daily Bitcoin mining supply. This event marks the first full-supply absorption since May 14 and occurred on SATA's biggest volume day in history, with around 384,000 shares traded. The mechanism behind this absorption involves Strive issuing new preferred shares via its at-the-market program when SATA trades at or above its $100 par value, converting the proceeds directly into Bitcoin. This strategy concentrates buying pressure when demand pushes the stock above the par value. In the week ending May 24, SATA acquired an estimated 794 BTC, more than doubling its previous weekly record and representing a 5.16% week-on-week increase in Strive's treasury. While Strategy remains the leader in absolute Bitcoin holdings, SATA is narrowing the gap on a Bitcoin-per-share growth metric. Notably, Michael Saylor, executive chairman of Strategy, has endorsed SATA, calling it "the most interesting story in Bitcoin right now."

(Source：Bitcoin Magazine)