TLDR
- Strive (ASST) deployed $50 millionārepresenting over 33% of its corporate cash reservesāinto Strategy’s (MSTR) STRC perpetual preferred shares, which currently offer an 11.5% yield
- The company simultaneously acquired 179 additional Bitcoin, pushing total BTC reserves to 13,311 (~$930 million in value)
- Strive increased the dividend rate on its SATA preferred shares by 25 basis points, raising it to 12.75%
- Shares of ASST gained 2.2% on Wednesday amid Bitcoin’s recovery above the $70,000 threshold
- Despite recent gains, ASST remains down over 90% from its summer 2025 high and recently executed a 1-for-20 reverse split
Strive (ASST) executed a series of strategic treasury maneuvers on Wednesday, committing $50 million to Strategy’s (MSTR) STRC Variable Rate Series A Perpetual Preferred Stock.
This $50 million deployment accounts for more than a third of Strive’s available corporate cash reserves.
The STRC instrument currently delivers an 11.5% yield. Strategy announced that STRC achieved record trading volume of $409 million on Tuesday, while simultaneously posting its lowest-ever 30-day volatility reading of just 3%.
Strive CEO Matt Cole explained that the company maintains USD cash reserves as a cushion for dividend obligations and day-to-day operations. Instead of parking those funds in traditional low-yield money market accounts, Cole indicated it was more prudent to deploy capital into higher-yielding instruments like STRC that demonstrate stable pricing characteristics.
Strategy CEO Phong Le noted that several other institutional players have incorporated STRC into their treasury strategies, citing Prevalon Energy, Anchorage Digital, and OranjeBTC as examples.
Additional Bitcoin Acquisition and Dividend Enhancement
In conjunction with the STRC deployment, Strive purchased another 179 Bitcoin, expanding its total cryptocurrency holdings to 13,311 BTC. Based on prevailing market rates, this position represents approximately $930 million in value.
The company also enhanced the dividend rate on its own perpetual preferred instrument, SATA, increasing it by 25 basis points to reach 12.75%. SATA shares advanced 1.4% during the trading session, though they continue trading below par value at $96.22.
These developments coincided with Bitcoin’s resurgence above $70,000 on Wednesday, providing a tailwind for ASST shares, which climbed 2.2% in morning trading.
Strive maintains a healthy balance sheet position with more cash than outstanding debt, reflected in its current ratio of 11.97. The stock changed hands at $8.98, corresponding to a market capitalization of $566 million.
Turbulent Journey Since Inception
Strive entered the market in 2025 as part of a wave of firms attempting to mirror the Bitcoin treasury approach pioneered by Michael Saylor’s Strategy. The execution has been challenging.
ASS T has surrendered more than 90% of its value from the peak reached in summer 2025.
To maintain compliance with minimum listing requirements, the company implemented a 1:20 reverse stock split to elevate its share price above the $1 threshold.
In recent quarters, Strive closed a $225 million preferred stock offering, utilizing a portion of the capital to eliminate $110 million in debt stemming from its Semler Scientific acquisition. The company expects to retire the final $10 million in outstanding debt by April 2026.
The Semler acquisition positioned Strive as the 11th largest publicly-traded corporate holder of Bitcoin worldwide at that juncture, with holdings of approximately 12,797 BTC.
B.Riley launched coverage on Strive with a Buy recommendation and established a $12.00 price objective.
Strive’s asset management division, Strive Asset Management LLC, oversees more than $2.5 billion in client assets.
The company’s board of directors approved a cash dividend of $1.0208 per share for holders of its Variable Rate Series A Perpetual Preferred Stock.
At publication time, ASST was changing hands at $8.98, reflecting a 2.2% intraday gain.
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