Key Takeaways:
Strive bought 1,109 BTC, lifting holdings to 16,500 bitcoin and 7th among publicly listed companies holding BTC.ASST shares surged 133% in 3 months as Strive expanded its bitcoin treasury model.Strive plans new capital tools and a 13.88% SATA yield product starting June 16.The company also reported $93.3 million in cash and cash equivalents, up from $87.3 million. In addition, Strive said the value of its holdings in Strategy Inc.’s STRC preferred stock has risen above $50 million.
Strive is also preparing to launch a new income product through its SATA preferred stock. The security is designed to pay cash dividends every business day, a structure the company says is the first of its kind for a U.S.-listed security.
Daily distributions are scheduled to begin on June 16. The preferred stock carries a stated annual rate of 13%, but frequent compounding across roughly 250 trading days raises the effective yield to about 13.88%.
