Key Highlights
- The Bitcoin treasury company acquired 1,375 BTC in a $109 million purchase, expanding its total reserves to 24,531 BTC valued at approximately $1.96 billion.
- Strive’s preferred stock instrument, SATA, is closing in on a $1 billion market capitalization milestone, maintaining trades at its $100 par benchmark.
- The 13% annual dividend yield on SATA enabled it to contribute 70% of last week’s capital inflows.
- Shares of ASST have surged over 100% in the last 30 days and gained 56% since January, despite trading 90% beneath all-time peak levels.
- Meanwhile, Strategy’s STRC preferred security continues languishing around $98, below its par value, as MSTR shares decline 12% year-to-date.
The Bitcoin treasury operator Strive has maintained an aggressive accumulation strategy. In its most recent move, the company secured an additional 1,375 BTC last week, paying an average of $79,281 per token for a total outlay of $109 million.
This acquisition elevates Strive’s Bitcoin reserves to 24,531 BTC, currently valued at approximately $1.96 billion. The company’s liquid assets also increased to $202,600.
Shares of ASST have experienced remarkable growth, more than doubling in the past 30 days with a year-to-date gain of 56%. The stock recently touched a 2025 peak above $27. Following the announcement, shares declined roughly 2% to 3%, slipping below $27 as Bitcoin retreated from levels above $82,000.
While the recent performance has been impressive, ASST continues trading approximately 90% below the all-time high achieved about twelve months ago.
The recent acquisition follows a prior purchase of 1,800 BTC made two weeks prior, which elevated Strive to the fifth position among Bitcoin treasury companies. The firm now ranks behind Strategy, Twenty One Capital, Metaplanet, and MARA Holdings.
Chief Executive Matt Cole has outlined his objective to accumulate more than 20,000 BTC by the end of this year, with long-term aspirations of securing the position as the second-largest Bitcoin treasury operator after Strategy.
SATA Emerges as Primary Capital Vehicle
According to Cole, SATAāStrive’s perpetual preferred securityāaccounted for 70% of the capital raised during last week’s offering. Common stock sales comprised the remaining 30%.
SATA’s notional value outstanding has reached $999 million, positioning it just shy of the significant $1 billion threshold. The instrument delivers daily dividend payments at a 13% annualized rate and consistently trades at or near its $100 par designation.
This par value stability provides a crucial advantage. It enables Strive to execute at-the-market offerings without facing the dilutive pressure that emerges when preferred securities trade below their par value.
Strategy’s STRC Faces Continued Par Value Challenges
In contrast, Strategy has encountered difficulties with its comparable preferred instrument. STRC, which provides a 12% yield, currently trades around $98 and hasn’t recovered to its $100 par value since mid-May.
During the previous week, Strategy executed a $176 million buyback of STRC shares 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 holdings to $1.438 billion.
Strategy maintained its Bitcoin position unchanged at 845,050 BTC.
While MSTR stock has declined 12% year-to-date, ASST has significantly outperformed during the identical period. The fact that SATA trades at par while STRC persistently trades at a discount has proven instrumental in Strive’s superior ability to attract fresh capital efficiently.
STRC has failed to reach the $100 mark since the middle of May.
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