Strive has launched its second preferred stock on Nasdaq, giving investors another security linked to the company’s bitcoin treasury strategy. The new stock, trading under the ticker SATS, debuted Tuesday after the company completed an upsized initial public offering.
SATS offering and dividend
Strive said it sold 7 million SATS shares at $90 each, raising $630 million before expenses based on the stated offering price. The company said SATS will pay a 15% dividend every business day.
The new security expands Strive’s preferred-stock lineup. Its other Nasdaq-listed preferred stock, SATA, pays a variable dividend. Preferred shares generally rank ahead of common stock for dividend payments, although the precise rights and conditions depend on the security’s terms. SATS is separate from Strive’s common stock, which trades under the ticker ASST.
According to Bitcoin Magazine, Strive Chief Executive and Chairman Matt Cole described the enlarged initial public offering as an important step in the company’s effort to increase long-term total returns for common-equity investors.
Strive’s bitcoin treasury strategy
Strive is a bitcoin treasury company: it uses corporate financing and equity-market instruments to build a bitcoin holding while its shares and preferred securities give investors different ways to gain exposure to the business. The company said it maintains a debt-free balance sheet, with no bonds, credit lines or leveraged positions that could lead to forced liquidation during a downturn.
The company was founded by Vivek Ramaswamy, a technology entrepreneur and former candidate for governor of Ohio. Strive became an official bitcoin treasury last year and is now described as the fourth-largest company in the sector. It holds 36,818 BTC, valued at more than $3 billion at the prices cited in the source material.
Strive also announced on Monday that it had bought another 4,045 BTC between October 12 and October 16. In January 2026, it completed an all-stock acquisition of Semler Scientific, described as the first case of one publicly traded bitcoin treasury company acquiring another.
A growing market for bitcoin-linked securities
Strive’s move follows Strategy, the largest corporate bitcoin holder. Strategy began purchasing bitcoin in 2020 and now holds 848,517 BTC, worth more than $60 billion according to the source. It has five preferred stocks: STRF, STRC, STRK, STRD and STRE. Strategy proposed daily dividends for its products last month, highlighting the growing use of preferred securities in corporate bitcoin strategies.
Strive’s common stock, ASST, was trading 4% higher on Tuesday. The broader approach aims to offer investors amplified exposure to bitcoin through a company’s equity, but the common stock and preferred securities have different structures and risks.
Market picture
Moneyiar market data at 11:19 a.m. on October 21, 2026, showed Bitcoin at $83,310.73, up 2.33% over 24 hours but down 0.07% over seven days. Aethir was at $0.006047, up 11.32% in 24 hours and down 1.61% over seven days. RedStone stood at $0.145002, up 6.62% over 24 hours and down 6.09% over seven days.
