Strive launches "Daily Dividend" strategy, shares rise up to 7% intraday

Odaily reported that shares of Strive Inc., a Bitcoin reserve company founded by Vivek Ramaswamy, rose as much as 7% on Thursday. The company announced that its preferred stock, SATA, will pay cash dividends on each trading day starting June 16, with a current annual dividend yield of 13%.

Strive CEO Matthew Cole stated that SATA will become the first publicly traded security in U.S. capital market history to "pay cash dividends every business day."

Meanwhile, Strive disclosed that it has fully repaid all its debts, currently has no short-term or long-term outstanding liabilities, and holds no Bitcoin that has been pledged as collateral. The company also noted that it has completed its acquisition of another Bitcoin reserve company, Semler Scientific, and now holds over 15,000 Bitcoin. (The Block)