PANews January 19 News, according to CoinDesk, the perpetual preferred stock (SATA) of Bitcoin treasury company Strive first reached a par value of $100 per share last Friday. This level enables the company to sell more shares to raise funds and further purchase Bitcoin. The stock offers a 12% dividend yield, with an actual return of 12.2%. Strive currently holds 12,797 Bitcoins on its balance sheet, with a common stock price of $0.94.
The SATA structure is similar to that of another Bitcoin reserve company Strategy’s comparable product Stretch (STRC). A trading price above par value means the company can raise cash through at-the-money (ATM) issuance channels at market price to increase Bitcoin holdings. STRC reached par value earlier this month, with a trading volume of $755 million last week, of which $582 million was traded above par value, marking the highest weekly trading volume to date.
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