U.S. Bitcoin treasury company Strive disclosed an optional plan on October 5 to repurchase up to $500 million in floating-rate perpetual preferred stock (SATA). The plan's amount exceeds its reported cash balance of $284.7 million, meaning management will need to weigh further Bitcoin purchases against repurchasing dividend-paying preferred stock. As of October 2, Strive held 29,462 Bitcoins, having previously purchased 2,000 Bitcoins between September 28 and October 2 at an average price of approximately $84,422.