TLDR
- Strive (ASST) deployed $50 million — more than a third of its treasury reserves — into Strategy’s (MSTR) STRC perpetual preferred stock offering an 11.5% yield
- The company acquired 179 more Bitcoin, pushing total holdings to 13,311 BTC (approximately $930 million)
- Strive increased its SATA preferred stock dividend by 25 basis points, now at 12.75%
- ASST shares gained 2.2% Wednesday as Bitcoin surged past the $70,000 mark
- The stock has declined over 90% from its summer 2025 high and recently underwent a 1:20 reverse split
On Wednesday, Strive (ASST) executed multiple strategic treasury adjustments, committing $50 million to Strategy’s (MSTR) STRC Variable Rate Series A Perpetual Preferred Stock.
This $50 million deployment accounts for over a third of Strive’s available corporate treasury.
The STRC instrument currently delivers an 11.5% yield. Strategy announced that the security achieved $409 million in daily trading volume on Tuesday — a record high — while its 30-day volatility dropped to 3%, marking a historic low.
Strive CEO Matt Cole explained that the firm maintains USD reserves as a cushion for dividend payments and operating expenses. Instead of leaving those funds in low-return money market vehicles, Cole indicated the decision to deploy capital into instruments like STRC made strategic sense given their superior yields and price stability.
Strategy CEO Phong Le noted that several other institutions have similarly incorporated STRC into their treasury holdings, naming Prevalon Energy, Anchorage Digital, and OranjeBTC among them.
Bitcoin Acquisition and Dividend Enhancement
In conjunction with the STRC allocation, Strive acquired another 179 Bitcoin, increasing its total position to 13,311 BTC. Based on current market prices, this holding represents approximately $930 million in value.
Additionally, Strive enhanced the dividend rate on its proprietary perpetual preferred instrument, SATA, adding 25 basis points to reach 12.75%. SATA traded up 1.4% during the session, though it continues trading below par value at $96.22.
These strategic initiatives coincided with Bitcoin’s recovery above $70,000 on Wednesday, providing tailwinds for ASST shares, which advanced 2.2% in early market activity.
Strive maintains a solid balance sheet with cash exceeding debt levels and a current ratio of 11.97. Shares were changing hands at $8.98, giving the company a market capitalization of $566 million.
Challenging Journey Since Inception
Strive entered the market in 2025 as one of numerous firms attempting to mirror the Bitcoin treasury approach pioneered by Michael Saylor’s Strategy. The journey has been challenging.
ASST shares have plummeted more than 90% from their summer 2025 zenith.
The company executed a 1:20 reverse stock split to maintain its share price above the $1 threshold.
In recent months, Strive closed a $225 million preferred stock offering, utilizing a portion of the proceeds to eliminate $110 million in debt tied to its Semler Scientific acquisition. The outstanding $10 million debt balance is scheduled for repayment by April 2026.
This acquisition positioned Strive as the 11th largest publicly-traded corporate Bitcoin holder worldwide at that time, with roughly 12,797 BTC.
B.Riley launched coverage on Strive with a Buy recommendation and set a $12.00 price target.
Strive’s subsidiary, Strive Asset Management LLC, oversees more than $2.5 billion in assets under management.
The company’s board authorized a cash dividend of $1.0208 per share for its Variable Rate Series A Perpetual Preferred Stock.
At publication time, ASST was trading at $8.98, representing a 2.2% daily gain.
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