Strive (ASST) is set to raise $500 million by introducing a new perpetual preferred share class, SATS, which offers a 15% fixed dividend, with the proceeds earmarked for acquiring more bitcoin. The company plans to offer 5 million shares at $100 each.

SATS will rank below the existing perpetual preferred stock, SATA, which currently has a variable rate of 13%. Daily dividend payouts will be made to SATS holders, and at the IPO’s closing, a cash reserve will be established to cover the first 18 months of these dividends.

As a bitcoin treasury firm, Strive has been aggressively expanding its digital asset reserves, recently purchasing 3,311 bitcoin to reach a total of 32,773 coins, valued at roughly $2.7 billion. This is a notable surge from its holdings of under 20,000 coins three months ago, contrasting with larger rivals like Strategy.

Diversified real-world asset (RWA) stablecoins continue to sustain yields between 5% and 7% through real credit, while crypto funding rates have compressed to approximately 4%. The GENIUS initiative is pushing these yields off-chain, with the total addressable market (TAM) expected to grow to $4 billion over the next three years.

Why it matters:

Diversified real-world asset (RWA) stablecoins continue to sustain yields between 5% and 7% through real credit, while crypto funding rates have compressed to approximately 4%. The GENIUS initiative is pushing these yields off-chain, with the total addressable market (TAM) expected to grow to $4 billion over the next three years.