Strive launches "daily dividend" strategy, stock price rises 7% at one point

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 every trading day starting June 16, with a current annualized dividend rate of 13%.

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

Meanwhile, Strive disclosed that it has fully repaid all debt and currently has no short-term or long-term outstanding debt, nor any Bitcoin pledged as collateral. The company also stated that it has completed its acquisition of another Bitcoin reserve company, Semler Scientific, and its Bitcoin holdings have increased to over 15,000 BTC. (The Block)