TLDR
- Strive (ASST) invested $50 million—more than a third of its corporate treasury—into Strategy’s (MSTR) STRC perpetual preferred stock, which offers an 11.5% yield
- Strive also acquired an additional 179 Bitcoin, increasing its total holdings to 13,311 BTC (approximately $930 million)
- The dividend on Strive’s own SATA preferred stock was increased by 25 basis points to 12.75%
- ASST shares rose 2.2% on Wednesday as Bitcoin rebounded above $70,000
- ASST has shed over 90% of its value since its summer 2025 peak and recently executed a 1:20 reverse stock split
On Wednesday, Strive (ASST) made multiple balance sheet adjustments, allocating $50 million to Strategy’s (MSTR) STRC Variable Rate Series A Perpetual Preferred Stock.
Strive, Inc., ASST
This $50 million investment accounts for more than a third of Strive’s corporate treasury.
STRC currently offers an 11.5% yield. Strategy reported that the instrument saw $409 million in daily trading volume on Tuesday—its highest level ever—while its 30-day volatility dropped to 3%, a record low.
Strive CEO Matt Cole stated that the company maintains USD reserves as a buffer for dividends and operational expenses. Instead of keeping this cash in low-yield money market funds, Cole noted that allocating it to instruments like STRC, which provide higher yields with stable price performance, was a logical choice.
Strategy CEO Phong Le confirmed that other institutions, such as Prevalon Energy, Anchorage Digital, and OranjeBTC, have also added STRC to their treasuries.
More Bitcoin and a Dividend Bump
In addition to the STRC purchase, Strive acquired an extra 179 Bitcoin, increasing its total holdings to 13,311 BTC. At current prices, this portfolio is valued at approximately $930 million.
Strive also increased the dividend on its own perpetual preferred security, SATA, by 25 basis points to 12.75%. SATA rose 1.4% on the day but still trades below par at $96.22.
These actions coincide with Bitcoin rebounding above $70,000 on Wednesday, boosting ASST, which rose 2.2% in early trading.
Strive’s balance sheet indicates it holds more cash than debt, with a current ratio of 11.97. The stock was trading at $8.98, with a market capitalization of $566 million.
A Rough Road Since Launch
Strive launched in 2025 as one of numerous companies attempting to replicate the Bitcoin treasury strategy popularized by Michael Saylor’s Strategy. However, this endeavor has not been smooth.
ASST has lost over 90% of its value since its summer 2025 peak.
The company was forced to execute a 1:20 reverse stock split to keep its price above $1.
In recent months, Strive completed a $225 million preferred stock offering, using a portion of the proceeds to retire $110 million in debt from its acquisition of Semler Scientific. The remaining $10 million in debt is projected to be settled by April 2026.
At the time, this acquisition positioned Strive as the 11th largest public corporate holder of Bitcoin worldwide, with around 12,797 BTC.
B.Riley initiated coverage of Strive with a Buy rating and a price target of $12.00.
Strive’s subsidiary, Strive Asset Management LLC, manages more than $2.5 billion in assets.
The Strive board also declared a cash dividend of $1.0208 per share on its Variable Rate Series A Perpetual Preferred Stock.
ASST was trading at $8.98 at the time of publication, up 2.2% for the day.
