Strive launches SATS to raise $500 million and buy more Bitcoin
Business
Strive, a company all-in on Bitcoin, just announced plans to raise $500 million by selling new preferred stock called SATS.
The goal? Stack up more Bitcoin, plus maybe grab some income-generating assets or buy back its own shares.
SATS comes with a hefty 15% fixed dividend, definitely eye-catching for investors.
Strive offers SATS priced at $100
Strive is putting 5 million SATS shares up for grabs at $100 each.
To make things safer for buyers, they're setting aside enough cash to cover the first 18 months of dividends.
This new offering sits below their existing SATA stock (which has a 13% variable rate), but the big headline here is that Strive's already boosted its Bitcoin stash to 32,773 coins, worth about $2.7 billion, and they're clearly not slowing down anytime soon.