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Bitcoin fund company Strive has unveiled a $500 million IPO, with plans to allocate the funds to broad corporate needs, including the purchase of Bitcoin (BTC).
The announcement comes at a time when the company is facing an unrealized loss of almost 18% on its existing Bitcoin holdings amid the decline of the digital currency.
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Strivek aims for bigger Bitcoin stakes despite unrealized losses
In a recent press release, he revealed Company Vivek Ramaswamy They entered into a sales agreement. This allows the company to issue and sell up to $500 million of its floating Class A perpetual preferred stock (SATA) through a market offering.
The capital is intended for general corporate purposes, including the purchase of Bitcoin and Bitcoin assets. Additional applications include working capital, the purchase of training assets, the possibility of share buybacks and debt repayment.
“The selling agents may sell SATA shares, subject to the terms and conditions of the sales agreement, in any manner deemed to be a “market offer” as defined in Rule 415(a)(4) promulgated under the Securities Exchange Act of 1933, as amended, or in any other manner permitted by law.
According to Strive’s Bitcoin strategy tracker,… He bought Bitcoin three separate times In 2025. In early September, the company purchased 5,816 bitcoins (BTC), followed by a smaller purchase of 72 coins at the end of October. At last, Strive acquired 1,567 Bitcoin At the beginning of November.
The company has a total of 7,525 Bitcoin holders, making it the 14th largest public Bitcoin holder. The average unit purchase cost is $113,383 per Bitcoin.
According to the latest data, the value of his Bitcoin holdings is $699.81 million, which reflects a loss of … get about 18%or about $153 million.
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Digital asset treasury companies are under pressure
Meanwhile, it is not limited to Strive. revealed Data Bitcoin Treasures reports that Metaplanet, GD Culture Group, RemExpoint, and others are suffering unrealized losses due to the performance of the Bitcoin market.
Bitcoin faced significant market headwinds in October, and the downward trend only accelerated in November. In the middle of the month, Bitcoin fell below the $100,000 level and has yet to recover.
However, in the last twenty four hours, it has been observed Slight recovery . At the time of writing, Bitcoin was trading at $92,377, representing an increase of 2.42%.
Beyond market volatility, DAT companies now face structural pressure from index providers. MSCI suggested Reclassify companies that own digital assets that represent more than 50% of their total assets as “funds”.
This may result in their removal from MSCI standards. This decision has critical consequences for DAT companies. Exclusion of indicators is likely to result in significant flows of negative indicators.
Last week, Strife sent a seven-page letter to the head of MSCI, urging him to reconsider the proposal.
“Index providers do not exclude energy companies whose balance sheets are dominated by oil reserves, or gold miners whose value depends heavily on the metal they extract, or financial companies whose assets consist mainly of securities and derivatives…. Creating a special exclusion rule for digital assets alone would be a departure from this tradition without regulatory or economic justification,” books Effort.
MSCI’s decision will be announced on January 15, 2026. The result will impact how traditional markets treat companies that hold massive cryptocurrency securities and may affect the future of the Bitcoin treasury business model.
