Strive CEO Matt Cole has signaled the company might soon return to capital markets with another preferred equity offering. This move depends on Bitcoin continuing its upward trajectory, promising benefits for holders of both Strive's common stock (ASST) and its preferred shares (SATA).
Strive has turned Bitcoin treasury management into a repeatable playbook: raise funds through inventive equity instruments, purchase more Bitcoin, then rinse and repeat. Currently trading on Nasdaq under ASST, Strive holds roughly 20,000 BTC, with recent buys adding 79 BTC near $65,700 each.
How Strive’s Preferred Stock Works
The company’s preferred stock, SATA, pays a variable dividend currently around 13% APR. Since mid-2026, dividends switched from monthly to daily payments, a tweak aimed at boosting liquidity for investors. SATA trades tightly between $99 and $101 to stay near par value, reducing price risk for income-focused investors seeking Bitcoin exposure without the wild price swings of the asset itself.
Back in January 2026, Strive launched a $150 million follow-on SATA sale to retire existing debt and fund more Bitcoin purchases. Cole’s hint at reopening this funding channel shows confidence in Bitcoin’s momentum and underlines the company’s capital strategy. Cole brings experience managing over $70 billion in fixed-income assets at CalPERS, lending credibility to Strive’s approach.
This strategy draws some industry backing too. Michael Saylor, known for his Bitcoin advocacy, has publicly endorsed Strive’s preferred equity structure as a viable model. Investors watching the space should note that while preferred equity holds priority over common stock, issuing more preferred shares creates obligations that common stockholders must recognize.
This material is informational and not financial advice.
