Strive Preferred
SATAStrive · United States
Strive (SATA) is Strive's Series A variable-rate perpetual preferred stock, designed specifically to fund Bitcoin accumulation on the balance sheet. Unlike fixed-rate preferreds such as STRK or STRF, SATA's dividend is reset periodically: issued in November 2025 with an initial 12.25% yield, it rose to 12.50% in late 2025 and stands at 13.00% for the period beginning April 15, 2026. The stock trades near its $100 par value, which allows Strive to run continuous at-the-market (ATM) programs to raise capital and buy BTC. In the capital structure, SATA sits above the common stock but below any secured debt.
Yield Calculator
Base price: $100 · par value (estimated)Indicative calculation. Dividends depend on the issuer declaring them each period, are not guaranteed and exclude tax withholdings and broker fees. The share count rounds down and assumes a market purchase at the price shown.
Dividend History
Total paid: $5.22Instrument Terms
Capital Structure
Senior to Strive's common stock. Junior to any secured debt. No mandatory maturity (perpetual).
Bitcoin Exposure
Direct funding of new BTC purchases by Strive. Each SATA ATM issuance translates into capital available to grow the company's Bitcoin treasury.
Specific Risks
4 factors identifiedIssuer credit risk
Strive's preferreds are not collateralized by the company's Bitcoin reserves. They are an unsecured obligation: in a bankruptcy scenario, senior bondholders are paid first and preferred holders only recover from residual assets afterwards. The backing is credit-based, not a BTC collateral pledge. A severe and prolonged drop in the Bitcoin price could compromise the issuer's ability to service the dividends.
Non-cumulative dividend
If the issuer's board decides not to declare the dividend in a given period, the investor loses that payment with no future claim. Unlike a cumulative preferred, missed periods are not recovered when payments resume.
Call risk (early redemption)
At any time from the call date, the issuer may redeem the issuance at par value ($100 per share). If market rates are lower than the current yield by then, it will likely do so: the investor gets the principal back and must reinvest it at worse yields. This scenario is especially relevant for instruments trading at a premium to par.
Interest rate sensitivity
Like any perpetual fixed income instrument, the secondary price moves inversely to rates. A significant rise in interest rates can cause sharp price declines even if the issuer keeps paying dividends on time. The effect grows with effective duration, and perpetuals are the most sensitive.
This risk analysis is for information purposes only and does not constitute financial advice. The official prospectuses (SEC) contain the full risk factor disclosure and should be reviewed before investing.
Disclaimer: SatsIntel is for informational purposes only. It is not an authorized crypto-asset service provider (CASP) and does not provide financial, tax or legal advice. Crypto-assets are high-risk assets and may result in the total loss of the invested capital. See the legal terms.