Strive, Inc. (Nasdaq: ASST) has closed an upsized sale of 7,000,000 shares of 15.00% Series A Perpetual SATS Preferred Stock at $90 each, raising about $630 million gross, according to the company’s closing announcement. The deal was upsized from 5 million shares, per the SEC pricing term sheet, and the shares now trade on Nasdaq under the ticker SATS.
The headline number is the raise. The more useful number is the bill that comes with it.
The dividend math
SATS pays a cumulative 15% a year on a $100 stated amount, not on the $90 buyers paid. That works out to:
- $15 per share per year, or an effective yield of about 16.7% on the $90 issue price.
- Across 7 million shares, roughly $105 million a year in dividends, if declared in full (our calculation from the filed terms).
- Against estimated net proceeds of $608.15 million reported by EconoTimes, that annual cost equals about 17% of the cash Strive actually received.
Dividends are payable on each business day starting November 9, 2026, when, as and if declared by the board. Because they are cumulative, any skipped payment keeps accruing rather than disappearing.
Translating it into bitcoin
Strive reported paying about $82,803 per BTC (including fees) for purchases between October 12 and 16, and held 36,818 BTC as of October 16, per its filings cited by EconoTimes. Using that historical price:
- All $608.15 million of net proceeds would buy roughly 7,345 BTC, lifting holdings to around 44,160 BTC if every dollar went into Bitcoin.
- The ~$105 million annual dividend is worth roughly 1,270 BTC a year at that same price.
Put simply, the new preferred stock costs Strive the equivalent of about one-sixth of the coins it could buy with the money, every year, for as long as the shares stay outstanding. The bet only pays off for common shareholders if bitcoin’s price rises faster than that 15%-plus funding cost over time.
Two caveats matter. First, Strive has not committed a specific amount to bitcoin. The prospectus lists bitcoin and bitcoin-related products alongside working capital, income-generating assets, capital spending, buybacks of Class A or SATA stock, and acquisitions. Second, these BTC figures use a past purchase price; the real number depends on when and at what price Strive buys.
Why preferred, not common stock?
Preferred stock lets a bitcoin treasury company raise cash without issuing new common shares, which avoids immediate dilution for ASST holders. The trade-off is a fixed, senior claim on the company’s cash flow. Strive already has a variable-rate SATA preferred outstanding, and SATS adds a second, fixed-rate layer.
For buyers, the appeal is a high headline yield and a $10 gap between the $90 price and the $100 stated amount. The risk is that a bitcoin treasury company’s ability to keep paying depends heavily on bitcoin’s price and on continued access to capital markets. “Perpetual” also means there is no maturity date when investors are guaranteed their money back.
What it means for Indian investors
SATS and ASST are US-listed securities, so Indian investors can only reach them through overseas investing routes, with the currency risk and tax reporting that come with foreign assets. More broadly, the deal is a useful lens on the bitcoin treasury trend: when a company pays 15% a year to fund bitcoin purchases, it is making a leveraged bet on price. Buying spot BTC on a registered Indian exchange carries no such funding cost, though it does carry India’s 30% tax on gains and 1% TDS on transfers.
The bottom line
Strive raised a large sum quickly, and day-one interest suggests appetite for high-yield bitcoin-linked paper is still strong. But at roughly $105 million a year, SATS is one of the more expensive ways to fund a bitcoin stack. Watch for Strive’s next holdings update to see how much of the $608 million actually goes into BTC.
FAQ
How much does SATS pay? A cumulative 15% a year on a $100 stated amount, or $15 per share, paid on business days from November 9, 2026, if declared.
Will Strive use all the money to buy bitcoin? Not necessarily. The prospectus lists bitcoin purchases among several possible uses, and Strive hasn’t specified an allocation.
How much bitcoin does Strive hold? 36,818 BTC as of October 16, 2026, before this offering closed.
This article is for information only and is not financial advice. Do your own research before investing.