Funding
Strive Raises $500 Million for Bitcoin Holdings
Bitcoin treasury company Strive has announced a new perpetual preferred stock, SATS, with a 15% fixed dividend. The company plans to sell 5 million shares at $100 per share, raising $500 million, which will be used to purchase additional bitcoin BTC, acquire income-producing assets, or buy back stock. The new share class will sit junior to Strive's existing perpetual preferred, SATA, which has a variable rate (currently 13%).