SATA Buys 1,469 BTC in Three Days — and the Week Isn't Over

Welcome to the Bitcoin Balance Sheet. Each Friday, we recap key insights from our podcast hosted by our very own Tyler Rowe.

This week, Strive’s SATA preferred stock had its biggest Bitcoin accumulation ever, buying an estimated 1,469 BTC in just three days — with today still to go. As the final day before ex-dividend, it's expected to be a strong day for SATA.

The comparison to STRC is getting hard to ignore. Strive currently holds 16,500 BTC, meaning the 1,469 BTC purchased this week represents ~8.9% of its total holdings. For Strategy to match that percentage relative to its 843,738 BTC, Michael Saylor would need to buy roughly 75,000 BTC.

Track it all on BitcoinTreasuries.net

• Livestream — Real-time $SATA buying, with insight and analysis on the Digital Credit space on our X page

• SATA Tracker — Minute-by-minute accumulation, yield, price, and buying activity using our SATA BTC Accumulation Tracker

Apyx is the first dividend‑backed stablecoin protocol that turns preferred equity from Digital Asset Treasury (DAT) companies into programmable, high‑yield digital dollars. Apyx delivers sustainable double‑digit yield with institutional transparency, daily NAV visibility, and verifiable on‑chain reserves.

Bitcoin Treasuries Unconference UK

The largest Bitcoin Treasury event in the United Kingdom is happening right now.

We are covering it live on X and YouTube, with prominent guests including Strategy CEO Phong Le, Strive CEO Matt Cole, and The Smarter Web’s CEO Andrew Webley.

Watch it live:

Bitcoin, Power Laws, and the End of the Four-Year Cycle

Bitcoin analyst Matthew Mzinskas joined host Tyler to argue that Bitcoin's price structure remains healthy despite the absent blowoff top — and that 2026 may be the year the four-year cycle quietly breaks. Tracking Bitcoin's power law since 2018, Mzinskas noted that at current prices, roughly 90% of all historical observations have been higher on a relative basis. The downside, in his framing, has already happened.

Listen and subscribe for Matthew's full thoughts on Bitcoin's power law trajectory and whether 2026 finally breaks the four-year cycle.

• Watch on Youtube 
• Listen on Spotify 
• Listen on Apple Podcasts

SATA's Moment, Strive's Warrants, and the Digital Credit Gold Rush

Host Tyler was joined by Evan and Quinton of the One Share Pod to break down Strive's breakout week. The central thesis: SATA is having its STRC moment, with the global fixed income market as its addressable runway.

Listen and subscribe for Evan and Quinton's full thoughts on Strive's warrant expiry and whether SATA can sustain its record pace.

• Watch on Youtube 
• Listen on Spotify 
• Listen on Apple Podcasts

Special thanks to our partners:

• AnchorWatch. AnchorWatch makes Bitcoin ownership safer and easier by combining advanced custody expertise with industry-grade insurance. As a Lloyd’s of London Coverholder, it writes specialized policies that address digital-asset risks, giving clients trusted coverage and peace of mind. Learn more: AnchorWatch

• Apyx. is the first dividend‑backed stablecoin protocol that turns preferred equity from Digital Asset Treasury (DAT) companies into programmable, high‑yield digital dollars. Apyx delivers sustainable double‑digit yield with institutional transparency, daily NAV visibility, and verifiable on‑chain reserves. Learn more: Apyx

• Arch Lending. Get instant, secure loans backed by your Bitcoin, Ethereum, or Solana—no need to sell your assets. Arch Lending offers fast approvals and trusted custody for both individuals and institutions. Learn more: Arch Lending

• BitGo. BitGo is the leading institutional-grade digital asset custody, trading, and finance platform, trusted by exchanges, hedge funds, and corporations worldwide to secure and manage their crypto holdings. As the pioneer of multi-signature wallet technology, BitGo provides unmatched security, regulatory compliance, and deep liquidity solutions for serious digital asset operations. Learn more: BitGo

• Cadena Bitcoin. A p2p bitcoin lending marketplace with a unique emphasis on working with treasury firms and businesses, as well as the savvy bitcoin-native investors who visit our website. Learn more: Cadena Bitcoin

• Coinkite. Coinkite is a leader in security and hardware manufacturing and the maker of some of the most iconic Bitcoin products, such as OPENDIME, COLDCARD, BLOCKCLOCK, SATSCARD, TAPSIGNER and SATSCHIP. Learn more: Coinkite

• Cryptio. Cryptio is an enterprise-grade accounting software platform built specifically for digital assets and cryptocurrencies. It enables businesses to transform blockchain transaction data from multiple exchanges and custodians into auditable financial records, supporting compliance with GAAP and IFRS standards. Learn more: Cryptio

• The Hemisphere Foundation. Hemisphere develops open-source solutions designed to help treasury teams securely manage, deploy, and optimize their BTC holdings, with benefits of self-custody and Bitcoin native deployment. Learn more: The Hemisphere Foundation

• Orange Wheel Advisors. Orange Wheel Advisors is a strategic consulting firm that helps companies navigate Bitcoin’s impact on corporate finance and competitive strategy. With expertise spanning treasury management, payments, capital structure, mining, and investor communications, they provide executive education, tailored strategies, and execution support to guide businesses through the global monetary transition. Learn more: Orange Wheel Advisors

• o21 Solutions. o21 develops and implements Bitcoin-powered corporate strategy, transforming value chains with strategic expertise and tailored advisory services, with a focus on both Treasury and Operations - balance sheet accumulation, mining, and payments. Reduce cycle time through the corporate Bitcoin adoption journey through our pre-packaged or tailored engagements. Learn more: o21 Solutions

• Psalion. Psalion is a Bitcoin and digital-asset yield manager that offers institutional‑style investment strategies to professional investors, family offices, corporates, and private clients via separately managed accounts and yield funds. Learn more: Psalion

• Secure Digital Markets (SDM) provides unparalleled liquidity, execution speed, and bespoke customer service, making it the top choice for institutional investors seeking reliable digital asset trading solutions. With deep expertise in capital markets and strict regulatory standards, SDM stands out as the premier platform for all digital asset treasury teams looking to optimize their trading and treasury operations. Learn more: Secure Digital Markets (SDM)

• Stacking Sats Inc. Official IT partner at BitcoinTreasuries, Stacking Sats Inc via its subsidiary, Framework IT, is a managed IT services firm with a 17-year track record of providing best-in-class IT support, strategy, and cybersecurity, boasting high recurring revenue and long-term client contracts. It’s also one of the top 20 holders of Bitcoin among global private companies. Learn more: Stacking Sats Inc

• XCE. An executive recruitment group that combines a profitable recruitment business with a Bitcoin treasury strategy. The company turns over a decade of executive recruitment experience and four years of Bitcoin accumulation into a public Bitcoin‑powered growth engine, using a proven operating business to drive Bitcoin treasury accumulation. Learn more: XCE

• Zaprite. Zaprite is a non-custodial payment platform that allows individuals and businesses to seamlessly accept both bitcoin (on-chain and lightning) and fiat payments in a unified, customizable checkout experience. Users can easily issue invoices, generate payment links, and connect multiple wallets or custodial accounts, all while handling their own funds directly. Learn more: Zaprite