Strive raises SATA preferred dividend to 13.25% as Bitcoin treasury hits 43,153 BTC

Strive has lifted the dividend on its SATA variable-rate preferred shares to 13.25%, up from the prior 13% rate, as the company's Bitcoin treasury reached 43,153 BTC, according to research findings on the security's payment history and the company's disclosed holdings.

The adjustment matters because SATA is the flexible leg of Strive's two-instrument capital structure. The company can reset the variable rate over time, in either direction. The SATS shares operate differently: that security locks a 15% rate on a $100 stated amount, leaving investors exposed to the fixed terms regardless of how the company's position evolves.

Both instruments pay cash dividends daily on business days. SATA has already established a distribution record on that cadence. The shares have paid more than 109 consecutive daily dividends at the old 13% rate, according to the research findings.

How large is the obligation now?

The figures translate into a substantial fixed commitment. As of early November, Strive had 14,030,176 SATA shares outstanding and approximately 7.036 million SATS shares. Together, those preferred instruments carry a combined annual dividend obligation of roughly $288 million.

For perspective, that is a commitment on the order of $790,000 per day, every business day, against an asset base that generates no cash of its own. Bitcoin pays no interest and no dividends. Every distribution to preferred holders must come from reserves, fresh issuance, or the sale of coins.

The underlying treasury keeps compounding. As of November 6, 2026, Strive reported holding 43,153 BTC. Its latest purchase added 29 Bitcoin at an average price of approximately $75,721 per coin, roughly $2.2 million in total. The research findings place Strive among the largest public corporate Bitcoin treasuries globally.

Where does the funding come from?

Strive has built this position without conventional borrowing. Instead of issuing debt to buy Bitcoin, the company sells income-bearing securities and uses the proceeds to purchase coins. The research describes the approach as using equity-like instruments to grow the Bitcoin treasury while avoiding traditional debt mechanisms.

The SATS shares launched through a $630 million gross offering that closed on October 20, 2026. Strive operates with no conventional debt, according to the findings, and it maintains reserves covering dividends for approximately 18 months on the SATS shares.

That reserve is the cushion in the structure. It buys time — a year and a half of SATS distributions — without forcing coin sales or emergency raises if capital markets turn hostile.

What does this change for holders?

For income investors, the math on SATA just improved at the margin. A 13.25% yield, paid daily, stands well above savings-account rates. The mechanics cut both ways, however. A variable rate can rise, as it just did. By definition, it can also fall later, and the company retains the discretion to reset it.

The structural question is durability. Roughly $288 million in annual dividend obligations against a non-yielding asset base means Strive's capacity to keep paying depends on three inputs: the 18-month reserve on SATS, continued access to new capital, and ultimately the value of the Bitcoin it holds.

What comes next?

Watch two indicators. The first is whether the SATA rate moves again — each reset signals how Strive is balancing investor demand against its carrying cost. The second is the pace of the daily distributions against the 18-month SATS reserve, which defines the window in which the company must either raise fresh capital or rely on the treasury itself to sustain the structure.