Crypto24 July, 20262 min read
Strive’s SATA Rebounds From June Low, Trades Within 3% of $100 Par
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Strive's SATA rose to about $97 from $83.30 June low. The move places SATA within about 3% of its $100 par value.
SATA rebounds near par
Strive’s variable-rate perpetual preferred shares, SATA, rebounded after hitting a June low of $83.30, rising to around $97 and recovering most of the selloff, according to Yahoo Finance data. The rebound placed SATA within roughly 3% of its $100 par value, and the article said the design is part of a broader, fast-growing approach among Bitcoin-treasury companies using preferred equity designed to trade close to par. Strive introduced SATA in November 2025 to fund expansion of its Bitcoin treasury through preferred equity rather than additional common stock, with dividends adjusting to support the shares’ pricing.
In the same framework, Strategy’s STRC experienced a similar late-June decline but has partially recovered, trading around $87—still below par, per Yahoo Finance data. The article tied the preferred-share “digital credit” strategy to the treasury-building thesis, describing a mechanism intended to “anchor” valuation around par without requiring repeated common-share issuance.
Mow links SATA and STRC
Jan3 founder and CEO Samson Mow told Cointelegraph that SATA’s return toward $100 could reassure investors and help Strategy’s STRC return to par. Mow said, “I think every action that Strategy has undertaken to strengthen their balance sheet and encourage STRC to go back to par is also working.” The Cointelegraph article said Mow expects the two securities to move together because investors are assessing whether Bitcoin-linked preferred shares can continue funding their dividends and hold close to their stated values.
It also reported that SATA recovered to around $97 while STRC closed at $86.89 on July 24 after gaining 2.29% during the session, and later rose to $87.14 in after-hours trading. Mow pointed to Lyn Alden’s Orange Juice treasury company, launched on July 15, as an example of a new entrant using a different approach and starting with a lower Bitcoin cost basis.
Institutional demand and policy
The Crypto News article said three major U.S. preferred stock ETFs collectively hold $756 million worth of STRC, even though the security continues to trade about 13% below par.
It reported that Michael Saylor, Strategy’s co-founder and executive chairman, disclosed on July 24 that STRC is now the largest holding in BlackRock’s iShares Preferred and Income Securities ETF, Virtus InfraCap’s U.S. Preferred Stock ETF and VanEck’s Preferred Securities ex Financials ETF.
In his X post, Saylor presented the ETF positions as evidence that Strategy’s “digital credit” securities are entering institutional portfolios, while the article noted the July 24 closing price remained 13.11% below $100.
Separately, Crypto Briefing said US Treasury Secretary Scott Bessent’s remarks on the US government’s Strategic Bitcoin Reserve policy sent ripples through the market, with Bitcoin prices slipping from over $121,000 to under $118,000 after an August 2025 stance that the US would not be purchasing additional Bitcoin.
That same article said Bessent’s approach leaned on existing confiscated assets estimated between $15 billion and $20 billion and described Bitcoin as a ‘store of value’.