Strive’s SATA preferred shares climbed nearly 16% from their June low, reaching around $97. This rebound caught the attention of Jan3 CEO Samson Mow, who suggested that this momentum might help Strategy’s STRC preferred shares edge back toward their $100 par value.

Back in June, SATA sank to about $83.30, but it has since recovered to within 3% of its target tracking level. Meanwhile, STRC remains roughly 13% below par, though it has seen higher demand from major U.S. preferred stock ETFs holding around $756 million in STRC shares.

Mow explained to Cointelegraph that the efforts by Bitcoin treasury firms to strengthen balance sheets and support preferred shares are slowly rebuilding investor confidence. Seeing SATA approach $100 could reassure the market that the financial frameworks used by Strive and Strategy are still solid.

“Every move Strategy has made to improve their balance sheet and push STRC back to par seems effective,” Mow said. He expects both SATA and STRC to move together since investors are evaluating whether Bitcoin-linked preferred shares can sustain dividend payments and maintain valuations close to par.

“As SATA recovers, STRC should follow. It signals that the model isn’t broken, and these companies have enough capital to cover dividends for years, so panic isn’t justified,” he added.

Strive launched SATA in November 2023 to raise funds for expanding Bitcoin holdings without diluting common stock. These variable-rate perpetual preferred shares adjust dividends to keep their price near $100, providing flexible capital access while protecting common shareholders. Strategy’s STRC, introduced in 2023 under a similar model, also uses variable dividends and belongs to what Strategy calls “digital credit.”

During the late-June selloff, both SATA and STRC prices dropped far below their target levels. SATA’s recovery to around $97 contrasts with STRC’s price, which was $86.89 on July 24 before a small uptick in after-hours trading.

Mow views this gap as a temporary market reaction rather than a fundamental issue. The recovery of SATA fuels hope that STRC’s bounce back is on the horizon, signaling renewed faith in Bitcoin-linked preferred shares.