Strive (ASST) bought another 1,109 bitcoin between May 19 and May 22, spending an average of $76,989 per coin. The purchases pushed its total hoard to 16,500 BTC, making the company the seventh-largest corporate bitcoin holder by disclosed treasury size. ASST stock has surged 133% over the past three months, outpacing other bitcoin-treasury plays.
Cleaning up the balance sheet
Strive also wiped out all of its outstanding debt this month. The firm said it no longer carries leverage, margin exposure, or any encumbered bitcoin — a move that removes the forced-liquidation risk that has plagued other crypto corporates. Cash and cash equivalents stood at $93.3 million, up from $87.3 million in the prior period.
The company disclosed that its holdings of Strategy Inc.’s STRC preferred stock have risen in value and now exceed $50 million.
A new kind of dividend security
Strive plans to launch SATA preferred stock on June 16 — what it bills as the first U.S.-listed security designed to pay cash dividends every business day. The stated annual rate is 13%, but because of daily compounding the effective yield comes to roughly 13.88%. The firm is also weighing a refresh of its at-the-market programs for both Class A common stock and SATA preferred to fund further bitcoin acquisitions.
The timing isn't accidental. With no debt left and a growing bitcoin pile, Strive is positioning SATA as a yield vehicle for investors who want daily income without the volatility of the common stock.
All eyes are on June 16, when SATA begins trading. If the daily-dividend structure attracts enough demand, Strive will have a fresh source of capital to keep buying bitcoin — and a clear differentiation from rivals like Strategy, which recently bought back $1.5 billion of its convertible debt at an 8% discount. For now, Strive's next move likely depends on how the market receives that first daily payout.
