Strive expects to raise approximately $55 million through SATA preferred stock, an amount sufficient to purchase about 638 bitcoins

Odaily News: Strive's SATA preferred stock issuance is expected to raise approximately $55 million for the week ending October 5. At a bitcoin price of approximately $82,800, this amount is sufficient to purchase about 638 bitcoins. Total SATA trading volume for the week was approximately $317 million.

SATA traded above its $100 par value on Monday and for most of Tuesday, but fell below par value from Wednesday through Friday, with issuance activity expected to pause accordingly. The 8-K filings submitted by Strive and Strategy on Monday will confirm the actual number of bitcoins purchased with the related funds.

As of October 2, Strive held 29,462 bitcoins, having purchased 2,000 bitcoins between September 28 and October 2 at an average price of approximately $84,422. Strategy did not sell any STRC between September 28 and October 4, and only acquired 334 bitcoins through the sale of MSTR common stock. (Bitcoin.com News)