Strive plans to raise $150 million through a preferred stock offering to purchase Bitcoin and pay off debt.

According to a report by Cryptobriefing on January 22nd, Strive, a US-listed Bitcoin treasury company, announced plans to raise $150 million through the issuance of Series A perpetual preferred stock (SATA Stock). The company stated it will use the proceeds to reduce outstanding debt, purchase Bitcoin and Bitcoin-related products, and support company growth. This financing plan follows last week's shareholder approval of Strive's acquisition of Semler Scientific. The acquisition, expected to close soon, will add over 5,000 Bitcoins to Strive's balance sheet, bringing the company's Bitcoin reserves to 12,798.