Strive Hikes Preferred Share Dividend Rate as Bitcoin Treasury Companies Continue to Plunge
Strive increased its preferred share dividend rate to 12.25% amid a sharp decline in Bitcoin prices and falling stock values for Bitcoin Treasury Companies.Summary
Strive (ASST) announced an increase in the dividend rate for its perpetual preferred stock (SATA) from 12% to 12.25% in an effort to stabilize SATA's trading near its $100 target, as the preferred shares had dipped into the $90 range. This move comes as the price of Bitcoin tumbled below $88,000, negatively impacting Strive's common stock, which fell 7% to $0.79, marking a significant drop from its peak during the spring BTCTC mania. Strive currently holds 7,525 bitcoin, and its stock valuation, based on its bitcoin holdings, shows a low mNAV of just 1.09. The broader sector of Bitcoin Treasury Companies (BTCTCs) also experienced losses, with companies like Strategy (MSTR) down 6.6% and others seeing declines between 5% and 10%. Semler Scientific (SMLR), which is set to merge with Strive, also saw its stock fall by 8%.
(Source：CoinDesk)