Strive raising $500 million to buy additional bitcoin with new preferred share class
60-second summary
Strive launches a $500 million capital raise to purchase additional bitcoin, issuing a new preferred share class called SATS that offers a fixed 15% dividend at par and sits junior to the existing SATA series, which currently yields a variable 13% rate; the move signals heightened institutional demand for crypto exposure and could boost bitcoin’s price momentum.
SATS will offer a fixed 15% dividend yield at par and be junior to the company's existing SATA, which pays a variable rate (currently 13%).