Strive Perpetual Preferred Stock SATA Breaks $100 Par Value for First Time, May Help Expand BTC Treasury Further

Odaily News: The perpetual preferred stock (SATA) of Bitcoin treasury company Strive reached its par value of $100 per share for the first time last Friday. This level enables the company to sell more shares to raise funds for further Bitcoin purchases. The stock offers a 12% dividend rate, with an actual yield of 12.2%. Strive currently holds 12,797 Bitcoin on its balance sheet, and its common stock price is $0.94.

The structure of SATA is similar to that of Stretch (STRC), a comparable product from another Bitcoin reserve company, Strategy. Trading above par value means the company can raise cash through an At-The-Market (ATM) issuance program to increase its Bitcoin holdings. STRC reached its par value earlier this month, with last week's trading volume reaching $755 million, of which $582 million traded above par value, marking the highest single-week volume to date. (CoinDesk)