Strive's SATA preferred shares once absorbed over 100% of the daily Bitcoin mining supply.

This is not a one-time buying impulse, but a signal: institutional-level hoarding tools are shifting from "supplementing demand" to "consuming supply."
SATA is a preferred stock product launched by Strive, designed specifically for institutions, continuously buying BTC through debt or equity financing.
When it consumes all newly mined Bitcoin in a single day, it indicates that Bitcoin circulating in the secondary market is being systematically drained.
Meanwhile, Smarter Web Company increased holdings by 10 BTC, and TeraWulf is transitioning into an AI data center—these events, combined, point to a structural change:
The liquidity of Bitcoin sellers is being locked in by institutional tools and long-term holders.
But on the other hand, whether this "supply tightening" narrative can continue depends on macro liquidity conditions.
The Federal Reserve has a 97.3% probability of maintaining interest rates in June, and a high-interest environment suppresses risk appetite, potentially constraining the pace of institutional hoarding.
If demand cannot keep up with the speed of supply contraction, prices may not directly reflect this scarcity.
In the short term, positive funding rates and liquidation hunting indicate market sentiment remains fragile.
HODLing is a long-term strategy, but short-term leverage risks should not be ignored.
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