Key Highlights
- Strive acquired 1,375 BTC in a $109 million purchase, expanding its treasury to 24,531 BTC valued at approximately $1.96 billion.
- The company’s SATA preferred shares are closing in on a $1 billion market capitalization, maintaining their $100 par value.
- With a 13% annualized dividend, SATA contributed 70% of the firm’s capital raised in the most recent week.
- ASST shares have surged over 100% in the last 30 days and gained 56% since the start of the year, despite trading 90% below all-time highs.
- Meanwhile, Strategy’s STRC preferred continues struggling at approximately $98, below par, as MSTR stock falls 12% year-to-date.
Strive continues its aggressive Bitcoin accumulation strategy. The digital asset treasury company added 1,375 BTC to its balance sheet last week, paying an average of $79,281 per Bitcoin for a total outlay of $109 million.
This acquisition expands Strive’s Bitcoin reserves to 24,531 BTC, currently valued at approximately $1.96 billion. The company also increased its cash and equivalents position to $202,600.
Shares of ASST have experienced remarkable growth, more than doubling within the past 30 days and climbing 56% since January 1st. The stock recently touched a year-to-date peak above $27. Following the announcement, shares declined roughly 2% to 3%, falling below the $27 threshold as Bitcoin retreated from levels above $82,000.
While the recent performance has been impressive, ASST continues trading approximately 90% beneath the all-time high it achieved about 12 months ago.
The recent acquisition follows a 1,800 BTC purchase completed two weeks prior, which elevated Strive to the fifth position among corporate Bitcoin treasury holders. The firm now ranks directly behind Strategy, Twenty One Capital, Metaplanet, and MARA Holdings in terms of BTC holdings.
Chief Executive Officer Matt Cole has publicly stated his objective to accumulate more than 20,000 BTC by the end of the current year, with long-term aspirations to become the second-largest Bitcoin treasury company, trailing only Strategy.
SATA Powers Fundraising Efforts
Cole disclosed that SATA, Strive’s perpetual preferred stock instrument, generated 70% of the capital raised during the past week. The remaining 30% originated from common stock sales.
SATA’s outstanding notional value has reached $999 million, positioning it just below the significant $1 billion threshold. The instrument provides daily dividends yielding 13% on an annualized basis and consistently trades at or extremely close to its $100 par value.
This par value stability provides substantial advantages. It enables Strive to execute at-the-market offerings without facing the dilution pressures that emerge when preferred stock instruments trade below their par value.
Strategy’s STRC Faces Headwinds
In contrast, Strategy is encountering challenges with its comparable preferred stock offering. STRC, which provides a 12% yield, currently trades around $98 and has failed to recover to its $100 par value since the middle of May.
During the previous week, Strategy bought back $176 million worth of STRC and expanded its authorized repurchase program from $1 billion to $2 billion. These buybacks were financed using cash reserves rather than new equity issuance, reducing its USD cash position to $1.438 billion.
Strategy did not modify its Bitcoin position, which stands at 845,050 BTC.
MSTR shares have declined 12% year-to-date, while ASST has delivered superior returns during the identical period. The contrast between SATA trading at par and STRC’s ongoing discount below par has proven to be a critical factor enabling Strive to access capital markets more effectively.
STRC has remained below the $100 mark since mid-May.
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