Strive’s preferred stock hits par value, unlocking bitcoin funding channel

Core Insights - Strive's perpetual preferred equity (SATA) reached a par value of $100 for the first time, enabling the company to sell more stock to fund additional bitcoin purchases [1] - Strive currently holds 12,797 BTC on its balance sheet, with its common share priced at $0.94 and a preferred stock dividend rate of 12% [1] - The trading structure of SATA is similar to Strategy's (MSTR) Stretch (STRC), which also reached par earlier this month, allowing both companies to raise cash through at-the-market sales [2] Trading Volume and Market Activity - STRC recorded a trading volume of $755 million last week, with $582 million occurring above par value, marking the largest above-$100 volume to date [3] - Sustained trading at this level could enable Strategy to generate approximately 2,636 BTC through its ATM program [3] Executive Commentary - Michael Saylor, executive chairman of Strategy (MSTR), commented on the significance of both STRC and SATA reaching par, indicating the importance of perpetual preferred equities trading above par [4]