Markets
What to know:
- Strive declared war on wallets with a $500 million “at-the-money” offering to hoard more Bitcoin. 🏦💥
- SATA, its preferred stock, offers a 12% dividend (because who needs sleep?) and trades like a tired horse near $91. 🐎📉
- Funds may also buy “income-generating assets”-read: anything that doesn’t end in flames. 🔥
Strive (ASST), a publicly traded Bitcoin treasury firm, has conjured a $500 million at-the-market offering (ATM) for its Variable Rate Series A Perpetual Preferred Stock (SATA). This, they claim, will fund further Bitcoin purchases. One might call it a “treasury,” but we’ll call it a high-stakes poker game with crypto chips. 🃏
SATA promises a 12% dividend (effective yield: 13%, because math is a cruel mistress). Modeled after Strategy’s STRC, SATA now trades near $91, a price so modest it makes a $100 par value blush. An ATM offering allows companies to raise funds like a beggar with a golden bowl. 🧺✨
Proceeds may be spent on Bitcoin, income-generating assets (whatever those are), working capital, share buybacks, or acquisitions. Strive, which owns 7,525 Bitcoin (and is devouring Semler Scientific), now claims the 14th-largest Bitcoin company title. A title, one suspects, will be short-lived. 🏆
Strive’s common stock, ASST, languishes near $1, down 2% pre-market. A price so humble it could double as a napkin. 🧻📉
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2025-12-10 13:26