When face value opens doors: Strive and Strategy unlock bitcoin financing

Strive and Strategy’s perpetual preferred stock has crossed a critical threshold this week: the face value of $100 per share. This is not simply a symbolic number, but a catalyst that enables new avenues to finance the acquisition of bitcoin, the asset that both companies strategically accumulate.

The SATA Parity Milestone: How Face Value Drives New Bitcoin Purchases

Strive (ASST), the treasury firm specializing in bitcoin [BTC], saw its perpetual preferred capital (SATA) reach its face value of $100 for the first time on Friday. This achievement is not trivial: when preferred stock trades at or above par value, the company gains access to a crucial financing mechanism: the sale on the stock market (ATM).

With a dividend rate of 12% and an effective yield of 12.2%, SATA has become an attractive instrument for investors seeking income. Strive currently holds 12,797 BTC on its balance sheet, while its common stock trades at $0.94. The par value crossover allows the company to issue new preferred shares to raise capital exclusively for bitcoin purchases, feeding back into its long-term accumulation strategy.

Strategy hits parity again: STRC volume at all-time highs

The precedent was set by Strategy (MSTR) with its preferred equity equivalent, STRC. This stock also recently traded above par value, generating unprecedented market momentum. According to data from BitcoinQuant, STRC recorded a transaction volume of $755 million in the last seven days, of which $582 million corresponded to trades executed above the $100 parity price.

This sustained capital flow is the highest ever recorded in a single week for this instrument. Analysts estimate that the current trading level could allow Strategy to generate approximately 2,636 additional BTC through its ATM program. Strategy CEO Michael Saylor underscored the significance of the milestone with a terse comment on X (formerly Twitter): “probably nothing,” a nod that highlighted the simultaneous relevance of both STRC and SATA reaching face value.

Financing structure: why face value is decisive

The structure of these preferred shares is similar in both companies. When trading below par value, companies cannot issue new securities without destroying value for existing shareholders. However, once the market validates the parity price, the ATM channel opens, allowing continuous capital offerings without negative dilution. This mechanism has proven to be essential in the current cycle of bitcoin accumulation by companies and institutions.

XRP gives ground as Bitcoin experiences corrective pressure

In parallel to the positive movements in preferred instruments, the altcoin market showed weakness this week. XRP fell roughly 6.4% from the initial $1.91 to the current $1.79, in line with a broad-based correction of high-risk assets triggered by bitcoin volatility.

The decline accelerated as XRP pierced key support located around $1.87 with elevated volume, erasing gains accumulated during the previous week. The subsequent rally stopped near the $1.78–$1.80 zone, where buyers temporarily intervened. Traders are now monitoring $1.80 as a critical support level. To confirm a technical correction rather than a deeper decline, XRP would require sustaining a sustained move above $1.87–$1.90.

The dynamic reflects how the behavior of bitcoin, whose current price is around $83.53K according to data updated to this date, continues to set the pace of the broader crypto market.