Share this article
Strive’s preferred stock hits par value, unlocking bitcoin funding channel
The perpetual preferred equity, SATA, moved above $100, giving Strive access to at-the-market issuance.
Jan 19, 2026, 11:06 a.m.
Make us preferred on Google
What to know:
- Strive saw its perpetual preferred equity, SATA, trade above the $100 par level for the first time on Friday.
- Strategy ’s equivalent, STRC, also traded above par last week, recording $755 million in volume, with $582 million of that above the $100 price level.
Strive (ASST), a bitcoin treasury company, saw its perpetual preferred equity (SATA) reach par value of $100 for the first time on Friday, a level that allows it to sell more of the stock to fund further bitcoin purchases.
Strive's preferred stock offers a dividend rate of 12%, with an effective yield of 12.2%. Strive currently holds 12,797 BTC on its balance sheet, while the common share is priced at $0.94.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
SATA is structured similarly to Strategy’s (MSTR) equivalent, Stretch (STRC), and trading above par allows the company to issue more through an at-the-market (ATM) sales channel, raising cash to bolster its bitcoin holdings. Stretch hit par earlier this month, and interest held it above that level last week.
According to BitcoinQuant data, STRC recorded $755 million in trading volume last week, with $582 million of that volume occurring above par value. That's the largest above-$100 volume of any week to date. BitcoinQuant estimates that this level of sustained trading could enable Strategy to generate approximately 2,636 BTC through the ATM program.
On Friday, Strategy (MSTR) executive chairman Michael Saylor commented “probably nothing” in an X post, referencing both STRC and SATA reaching par. The comment highlighted the significance of perpetual preferred equities trading above par.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
