Strive expands its reserves with 1,109 Bitcoin
Strive purchased 1,109 Bitcoin between May 19 and May 22, bringing its total holdings to 16,500 BTC. According to an SEC filing, the Dallas-based company held $93.3 million in cash and cash equivalents as of May 22, along with a fair value of $50.1 million related to Strategy's STRC preferred shares. This is reported by Cointelegraph.com reports .
The company is evaluating new equity sales programs to fund additional Bitcoin purchases. During the reporting period, Strive increased its Class A common stock by over 2.2 million shares and its SATA preferred stock by 515,000 shares, signaling active use of equity financing for its Bitcoin treasury strategy.
Strive also announced that starting in June, it will begin paying daily dividends on its SATA preferred shares at an annual rate of 13%. The company described the SATA product as the first registered security in the U.S. designed to distribute dividends every business day. Simultaneously, the company confirmed it has fully repaid all existing debt.
Founded by former presidential candidate Vivek Ramaswamy, Strive has become the world's seventh-largest public corporate Bitcoin holder, with nearly $1.3 billion in BTC on its balance sheet, according to BitcoinTreasuries.NET. The company is successfully adopting the treasury model used by major players like Strategy.
The SATA product offered by Strive belongs to a new class of yield-bearing securities linked to corporate Bitcoin strategies, often referred to as "digital credit." Strategy, the world's largest Bitcoin holder, also offers a series of preferred securities like STRC, which have reached record trading volumes.
