News linked to both this project and an event.
Odaily reports: According to Bitfinex analysis, Strategy shareholders voted on October 28 to approve a proposal for daily dividend payments on STRC preferred stock, with preliminary results showing 99.3% of votes in favor. STRC is expected to shift from semi-monthly dividend payments to daily dividend payments starting November 1, with the first cash dividend payment arriving on November 2; Strategy's other three preferred stocks, STRF, STRK, and STRD, are expected to follow suit in January 2027.Strategy's move aims to reduce price volatility around ex-dividend dates. Company CEO Phong Le stated that previously, when STRC paid dividends monthly, prices fell by an average of about 49 basis points around the ex-dividend date, which dropped to about 36 basis points after switching to semi-monthly payments. The company expects that daily dividend payments will further disperse selling pressure and improve price stability.This model was not pioneered by Strategy. Bitcoin treasury company Strive converted its SATA preferred stock to daily dividend payments in June of this year and launched a subordinated preferred stock, SATS, with a fixed annual dividend rate of 15%. In October, Strive issued 7 million shares of SATS at $90 per share, raising approximately $630 million, and used about $511 million of that to purchase 6,182 BTC.
According to The Block, StoneX raised its price target for Bitcoin treasury company Strive (ASST) from $32 to $43 and maintained a "Buy" rating. Analysts believe that the company's recent expansion of its preferred stock issuance will help improve its Bitcoin accumulation strategy and capital structure. On October 20, Strive completed a $630 million preferred stock IPO, issuing 7 million shares of SATS preferred stock with a 15% annual dividend rate. Additionally, the company disclosed that it acquired an additional 6,182 BTC between October 17 and 23, bringing its total holdings to 43,000 BTC and ranking fourth among public companies in Bitcoin holdings.
Odaily Report: Fidelity Digital Assets research analyst Zack Wainwright noted in an analysis published on October 20 that preferred stock financing oriented toward Bitcoin could attract capital from the approximately $15 trillion global fixed income market. Fidelity estimates that the size of this type of preferred stock is approximately $12 billion.As of October 5, preferred stock financing has supported the purchase of 135,979 BTC, of which more than 95,000 were purchased between March and May. Fidelity estimates that nearly 96% of Bitcoin's maximum supply has been issued, and the next halving is expected in less than two years.Bitcoin treasury company Strive Inc. completed a 15% Series A Perpetual SATS Preferred Stock offering on October 20, selling 7 million shares at $90 per share for total proceeds of $630 million; the dividend rate is calculated on a $100 par value and is 15% annualized.Bitcoin treasury company Strategy Inc. disclosed that it holds 848,517 BTC and purchased 267 BTC the previous week for $22.1 million, using proceeds from common stock issuance and cash. Fidelity noted that the performance of related instruments is affected by both Bitcoin and the issuing company. (Bitcoin.com News)
According to The Block, TD Cowen analysts Lance Vitanza and Jonnathan Navarrete raised their price target for Strive (ASST) on Friday from $44 to $56. Strive's bitcoin holdings have increased to 35,595 BTC, valued at approximately $2.9 billion, up from 28,000 BTC at the end of September. This represents an acquisition of nearly 7,600 BTC over two weeks, surpassing TD Cowen's previous forecast of adding 4,750 BTC in the fourth quarter. The purchases include 3,311 BTC acquired on Tuesday (approximately $280 million, marking its largest single transaction since January) and 2,822 BTC on Wednesday. Strive is now the publicly traded company with the fourth-largest bitcoin treasury, marginally ahead of MARA's reported holdings. Strive has simultaneously expanded its SATS preferred stock offering to 7 million shares at $90 per share, targeting $630 million in proceeds, with completion expected by October 20. The company plans to reserve cash sufficient to cover dividend payments for 18 months. TD Cowen expects the offering to fund future bitcoin acquisitions without necessitating additional common stock issuance.