Strive’s SATA Preferred Shares Rebound Near Par as Bitcoin Treasury Demand Holds

Strive’s SATA preferred shares have rebounded from a June low of $83.30 to about $97, recovering most of the selloff and moving back within roughly 3% of their $100 par value, according to Yahoo Finance data. The recovery follows a period of pressure on preferred-share products tied to Bitcoin treasury strategies, a segment that has drawn growing attention as companies seek new ways to fund Bitcoin accumulation without issuing additional common shares. Strive introduced SATA in November 2025 as part of its plan to expand its Bitcoin treasury through preferred equity. The variable-rate perpetual preferred stock is designed to trade near its $100 par value by adjusting its dividend rate, giving Strive a capital-raising tool tied to its Bitcoin (BTC) treasury strategy. SATA is one of several preferred-share products in this emerging area, which companies such as Strategy describe as “digital credit.” Strategy’s STRC, launched in 2025 with a similar goal of maintaining a $100 share price through a variable dividend, also fell sharply during the late-June selloff before recovering, though it continues to trade below par at around $87. Strategy remains the world’s largest public corporate Bitcoin holder with 843,775 BTC, while Strive has risen to seventh place with 19,921 BTC, according to BitcoinTreasuries.NET.

Jan3 founder and CEO Samson Mow told Cointelegraph that recent adjustments by Bitcoin treasury companies are helping restore confidence in preferred-share products, and he said that supports his view that Bitcoin has already found its bottom. “I think every action that Strategy has undertaken to strengthen their balance sheet and encourage STRC to go back to par is also working,” Mow said. He added that the products appear to move together, saying that as SATA returns to par, STRC could also move back toward par because investors may conclude the model is not broken. Mow said companies in the Bitcoin treasury sector continue refining capital-raising strategies, and he pointed to Lyn Alden’s Orange Juice treasury company, which launched on July 15 with plans to operate a Bitcoin treasury, as another example of firms entering the market with different approaches and a lower Bitcoin cost basis.