Strive's perpetual preferred stock SATA breaks the $100 par value for the first time, potentially helping to further expand the BTC treasury.

Bitcoin treasury firm Strive's perpetual preferred stock (SATA) reached a par value of $100 per share for the first time last Friday, a level that allows it to sell more shares to raise funds for further Bitcoin purchases. The stock offers a 12% dividend yield, resulting in an effective yield of 12.2%. Strive currently holds 12,797 bitcoins on its balance sheet, with its common stock priced at $0.94. The SATA structure is similar to Stretch (STRC), a similar product from another Bitcoin reserve firm, Strategy. Trading above par value means the company can raise cash through an at-the-market (ATM) issuance channel to increase its Bitcoin holdings. STRC reached par value earlier this month, and last week saw $755 million in trading volume, with $582 million of that trading above par value, the highest weekly volume to date. (CoinDesk)