Strive hits par in its preferred stock SATA, unlocking new avenue of bitcoin funding

Strive has achieved a strategic milestone with its perpetual preferred stock SATA touching the $100 par level for the first time on Friday, opening a critical capital-raising channel to strengthen its bitcoin holdings. This move replicates Strategy’s previous success, and both companies are now leveraging innovative financing mechanisms to expand their BTC positions.

Strive opens funding gate after SATA reaches face value

Strive’s SATA Preferred Share (ASST) has finally reached parity at its face value of $100, allowing the bitcoin treasurer to activate its in-market sales channel (ATM) to raise funds for new BTC purchases. Currently, Strive holds 12,797 bitcoins on its balance sheet and offers SATA investors a dividend rate of 12%, with an effective yield of 12.2%.

The price of preferred shares above par is critical to this financing strategy. By exceeding $100, Strive gains the ability to issue new shares through the ATM program, generating liquidity without the need to resort to traditional debt or significant dilution of its common stock, which currently trades around $0.94.

Proven Financing Model: The Route Strategy Has Already Explored

Strive follows the same pattern as Strategy (MSTR), whose preferred stock STRC touched its par level earlier this month and has maintained that momentum. According to data from BitcoinQuant, STRC recorded a trading volume of $755 million in the past week, of which $582 million corresponded to trades above the $100 level. This is the highest volume above parity recorded in a week to date.

Strategy’s equivalent with STRC has proven the viability of the model: at this pace of trading, BitcoinQuant estimates that Strategy could generate approximately 2,636 additional bitcoins through its ATM program. The confirmation of the even level on SATA suggests that Strive could access similar volume, multiplying its BTC acquiring capacity without straining its capital structure.

Michael Saylor, CEO of Strategy, commented “probably nothing” in a post by X, simultaneously referring to STRC and SATA reaching their par levels, underscoring the symbolic and strategic importance of this milestone for both bitcoin treasurer companies.

Market context: volatility in high-risk assets puts pressure on the ecosystem

In the broader context of the market, high-risk assets face pressure. Bitcoin is trading at around $84,460, while XRP has suffered an approximate correction of 4.9% in the last 24 hours, falling to $1.82. XRP’s decline accelerated after losing key support around $1.87 on elevated volume, erasing gains from the previous week.

Despite the sectoral volatility, Strive’s strength at the par level of its preferred stock reflects institutional confidence in its bitcoin treasury model. Traders are now closely monitoring whether this SATA move consolidates, similar to how STRC has maintained its position above face value, signaling a possible continuation of the bull cycle for bitcoin-oriented companies.