Strive's SATA Hits 14-Day Par Streak, Funding 95 More Bitcoin
ASST has more than doubled off its 52-week low of $7.02.
Summary
Strive's preferred stock SATA has closed at par for 14 straight sessions, triggering ATM issuance that funds the purchase of 95 additional Bitcoin. The perpetual preferred now approaches $1 billion notional and pays a 13% daily dividend, making it a unique capital-raising vehicle that avoids common-share dilution. This continues the company's aggressive Bitcoin accumulation, with total holdings at 24,531 BTC valued near $1.96 billion. The streak signals sustained investor demand for SATA, enabling Strive to expand its treasury without debt or equity dilution. Watch for continued SATA trading at or above par, which would allow further Bitcoin purchases.
At the time of this announcement, ASST was trading at $26.73 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $7.02 to $252.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Crypto Briefing.