Strive's Perpetual Preferred Stock SATA Breaks $100 Par Value for the First Time, Potentially Aiding Further Expansion of BTC Treasury

According to Odaily, 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 yield, 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) offering 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)