Strive’s SATA nears $1 billion market cap as Strategy’s STRC continues to underperform
Strive is expanding its bitcoin holdings and seeing growth in its SATA product, which is currently outperforming Strategy's STRC in the market. While Strive continues to raise capital through stock offerings, Strategy is focusing on repurchasing its own preferred stock using cash reserves.
Why it matters
The performance gap between these two financial products highlights shifting investor sentiment and different capital management strategies within the crypto-adjacent asset market.
Strive acquired an additional 1,375 BTC last week for $109 million, or an average price of $79,281 per bitcoin, bringing its total holdings to 24,531 BTC, worth approximately $1.96 billion.
CEO Matt Cole said SATA accounted for 70% of the capital Strive raised last week; the other 30% came from common stock sales. SATA offers daily dividends at a 13% annualised rate and continues to trade around its $100 par value, allowing Strive to raise additional capital through at-the-market offerings. ASST shares have more than doubled over the past month, and are up 56% year-to-date. They remain about 90% off their record high reached roughly one year ago.
ASST has recently outperformed Strategy MSTR $ 138.36 , which remains down 12% this year. Strategy last week repurchased another $176 million of STRC, its high-yielding (12%) preferred stock, while doubling its authorized STRC repurchase program from $1 billion to $2 billion.
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