Key facts
- Strive's SATA preferred shares have recovered to approximately $97 from a June low of $83.30.
- The shares are now trading within 3% of their $100 par value.
- SATA is a variable-rate perpetual preferred stock designed to finance Bitcoin treasury expansion.
- CEO Samson Mow believes the recovery signals renewed confidence in preferred-share products for Bitcoin treasury companies.
- Strategy's STRC, another preferred-share product, also saw a selloff but continues to trade below par.
Strive's SATA preferred shares have shown a significant recovery, rebounding from a June low of $83.30 to approximately $97, bringing them close to their $100 par value. This rebound suggests a potential restoration of confidence in preferred-equity products utilized by Bitcoin treasury companies.
Introduced in November 2025, SATA is a variable-rate perpetual preferred stock designed to help Strive finance its Bitcoin treasury expansion without issuing additional common shares. Its dividend rate adjusts to keep the share price near par. SATA is part of an emerging market segment referred to as 'digital credit,' which includes similar products like Strategy's STRC.
While Strategy remains the largest corporate Bitcoin holder with over 843,000 BTC, Strive ranks seventh with nearly 20,000 BTC. CEO Samson Mow indicated that the actions taken by companies like Strive to strengthen their balance sheets are positively impacting the preferred-share market. He believes that as SATA returns to par, STRC will follow, signaling that the underlying model is sound and alleviating prior panic.
Mow also noted that the Bitcoin treasury sector is continuously refining its capital-raising strategies, citing Lyn Alden's Orange Juice treasury company as another new entrant with a different approach and a lower Bitcoin cost basis.