Strive Announces "Daily Dividend" Strategy for Preferred Stock and Discloses All Debt Repayment

On May 15, according to The Block, shares of Strive, a Bitcoin treasury company founded by Vivek Ramaswamy, rose as much as 7% on Thursday. The company announced that its preferred stock SATA will pay cash dividends every business day starting June 16, with a current annualized dividend yield of 13%, making it the first security in the U.S. capital markets to pay cash dividends every business day. The company also disclosed that it has paid off all its debts, has no short-term or long-term outstanding debt, and holds "unpledged Bitcoin." Strive completed the acquisition of Bitcoin treasury company Semler Scientific in the first quarter, increasing its total Bitcoin holdings to 15,009, valued at over $1.22 billion, making it the ninth-largest publicly traded Bitcoin treasury company. The company reported a net unrealized loss of approximately $266 million in the first quarter, almost entirely from the impairment of its Bitcoin holdings. Strive also holds STRC preferred stock from Strategy, valued at approximately $50.5 million.