Strive’s Bitcoin-Backed Preferred Stock SATS Lists on Nasdaq With 15% Dividend

preferred stock SATS — Bitcoin treasury company Strive has listed a new preferred stock, SATS, on the Nasdaq exchange, offering a 15% daily dividend.

The stock debuted on Tuesday following an upsized initial public offering of 7 million shares priced at $90 each, raising $630 million. The company stated the funds will be used to purchase more Bitcoin and income-generating assets.

Strive, founded by former Ohio gubernatorial candidate Vivek Ramaswamy, holds 36,818 BTC and is the fourth-largest corporate Bitcoin treasury. The company maintains a debt-free balance sheet, avoiding leveraged positions that could trigger forced liquidations.

The move is part of a broader trend of public companies financializing Bitcoin through various products. It follows the model of software company Strategy, the largest corporate Bitcoin holder, which has five different preferred stocks.