SATA

Public companies added nearly 9,000 BTC in June using preferred shares to fund purchases, but a market downturn triggered margin calls for leveraged investors in instruments like STRC and SATA. Prices for these shares fell below par in June before recovering by early July, with both Strategy and Strive maintaining dividend payments.

Strive (ASST) purchased 17.76 bitcoin at an average price of $59,850, bringing its total holdings to 19,882 coins. The company acquired 6,236 bitcoin in Q2 2025 at $74,290 per coin, reporting a 24.0% bitcoin yield for the quarter despite a decline in bitcoin’s price from $114,332 in September 2025 to $58,631 by quarter-end.

Strive attributes the decline in STRC and SATA to leverage liquidations, which may have caused a poor day for Bitcoin firms' preferred equity offerings. The article suggests unwinding leveraged positions in these assets contributed to the market downturn.

Strive CEO described a challenging day in digital credit, citing leverage liquidation as the cause of significant declines in STRC and SATA before partial recovery. The assets, intended to trade near $100 par value, experienced a notable selloff.

French BTC treasury firm Capital B is developing a bitcoin credit instrument similar to Strategy's STRC and Strive's SATA. The instrument is described as digital and modeled after existing credit products in the cryptocurrency space.

The article critiques Onramp's analysis of replicating Digital Credit with Bitcoin and U.S. Treasuries, highlighting factual errors in the report and arguing that Digital Credit's overcollateralization and external capital structure cannot be replicated by simple BTC/Treasury portfolios. The author emphasizes economic and empirical flaws in Onramp's 'simpler trade' argument.

Strive’s SATA preferred stock absorbed 453 BTC, exceeding the daily Bitcoin mining supply, marking a significant milestone in its Bitcoin acquisition efforts. The event highlights increased demand and competition in the Bitcoin treasury space, with SATA outpacing its prior records and challenging Strategy’s dominance.

Strive increased its Bitcoin holdings by 1,109 BTC, bringing the total to 16,500 BTC. The company's Bitcoin-linked preferred securities, such as SATA and STRC, are gaining popularity in emerging 'digital credit' markets.

Strive's shares have increased due to its 'daily dividend company' strategy and becoming debt free. The firm's subsidiary SATA will pay cash dividends every business day as its Bitcoin holdings grow. This makes SATA the first US-listed security to do so.

Strive Asset Management is launching a new SATA preferred stock that will distribute cash dividends daily, offering a 13% annual dividend rate. This move marks a departure from the traditional monthly payout model and reflects a broader push to reshape yield products around digital asset strategies. The company has also expanded its bitcoin treasury to 15,009 BTC.

Strive's SATA is set to become the first U.S. listed security to pay daily cash dividends, marking a significant milestone in financial innovation. This development could potentially disrupt traditional dividend payment structures. The move is expected to garner attention from investors and industry experts alike.