Strive’s SATA recovers most of June decline, trades within 3% of par

Strive’s SATA preferred shares have largely recovered from a significant decline experienced in June, rising from a low of $83.30 to about $97. This places SATA trading within approximately 3% of its $100 par value, according to Yahoo Finance data. Strive introduced these variable-rate perpetual preferred shares in November 2025 as a way to finance the expansion of its Bitcoin treasury without issuing more common shares. The dividend rate on SATA adjusts to keep its market price near par, which helps Strive raise capital more efficiently for its Bitcoin holdings.

SATA is part of a growing trend of preferred-share products linked to Bitcoin treasury strategies, sometimes called “digital credit.” The company Strategy, the world’s largest public corporate Bitcoin holder with 843,775 BTC, has a similar product called STRC that also experienced a drop during the late June selloff but has not yet recovered to par, trading around $87. Strive, meanwhile, ranks seventh in public Bitcoin treasury holdings with 19,921 BTC, based on data from BitcoinTreasuries.NET. This demonstrates an emerging market where companies seek innovative capital-raising methods tied to their Bitcoin assets.

Jan3 founder and CEO Samson Mow told Cointelegraph that the recent recovery of SATA shares signals renewed confidence in these preferred-share products. He believes the financial actions taken by Strategy to bolster their balance sheet and support STRC shares are effective and that as SATA returns to par, STRC might follow suit. Mow emphasized that these companies are well-capitalized for several years of dividend payments, suggesting that the earlier market panic was unwarranted.

Mow also highlighted that the improving performance of preferred-share products reflects a broader shift in the Bitcoin treasury sector, where firms are refining their capital strategies. He pointed to Lyn Alden’s Orange Juice treasury company, which launched on July 15 with plans to operate a Bitcoin treasury, noting that new entrants are adopting varied approaches and maintaining lower Bitcoin cost bases. This evolving landscape is viewed as a positive development for firms using innovative financial instruments to manage and expand their Bitcoin holdings.