Strive's SATS Preferred Stock Begins Trading on Nasdaq With 15% Daily Dividend
Strive's SATS preferred shares start trading on the Nasdaq
Strive, a company that holds bitcoin, began trading a new preferred stock called SATS on the Nasdaq on Tuesday, October 20, 2026, according to the company. A preferred stock is a type of share that usually pays a set dividend rather than giving holders the same voting rights as common shares.
The company said it closed an upsized initial public offering of 7,000,000 SATS shares at a public offering price of $90 per share. Bitcoin Magazine reported the offering raised $630 million, which Strive said it will use to buy more bitcoin and income-generating assets.
The numbers behind the offering
- 7,000,000 SATS preferred shares were sold in an upsized IPO.
- The public offering price was $90 per share, which works out to $630 million raised.
- The stock pays a 15% dividend every business day, per the company's announcement.
- Strive shares, ticker ASST, were trading 4% higher on Tuesday.
What the CEO said about the listing
"The successful, upsized IPO of SATS marks a critical milestone in our strategy to maximize long-term total returns for our common equity investors," Matt Cole, Chairman and CEO of Strive, said in a statement.
How SATS fits into Strive's lineup
SATS is Strive's second preferred stock. The Nasdaq-listed company also offers SATA, which pays a variable dividend. SATS follows a product trend among public companies that use different financial products tied to bitcoin: Strategy, an early corporate bitcoin buyer, proposed daily dividends for its products last month and already has five preferred stocks, named STRF, STRC, STRK, STRD and STRE.
Strive's bitcoin holdings and history
Strive launched as an official bitcoin treasury last year and now holds 36,818 BTC, worth more than $3 billion at today's prices. The company announced on Monday that it had bought another 4,045 BTC between October 12 and 16. Founded by tech entrepreneur and former Ohio gubernatorial candidate Vivek Ramaswamy, Strive completed an all-stock acquisition of Semler Scientific in January 2026, which the source describes as the first case of a publicly traded bitcoin treasury company buying another one.
Like other digital asset treasuries, the company says investors can get amplified returns from its stock. Strive buys bitcoin with equity and says it keeps a debt-free balance sheet, with no bonds, no credit lines and no leveraged positions that could trigger forced liquidation in a downturn.
Where Strategy stands in the comparison
The article places Strive among companies following the model started by software firm Strategy, which began buying bitcoin in 2020. Strategy is described as the largest corporate holder of bitcoin, with 848,517 coins worth over $60 billion.
Confirmed details and open questions
Confirmed by the company: the SATS IPO closed at 7,000,000 shares and $90 per share, the stock debuted Tuesday on the Nasdaq, it pays a 15% dividend every business day, Strive holds 36,818 BTC, and it bought 4,045 BTC between October 12 and 16.
Not fully explained in the source material: how the daily dividend is structured or funded, what exactly the 15% figure is measured against, and which "income-generating assets" the proceeds will target. Bitcoin Magazine's $630 million figure for the raise is a reported detail, and the $3 billion and $60 billion holding values are tied to prices at the time of writing.
Why this matters for crypto watchers
Public companies are increasingly packaging bitcoin exposure into products beyond common stock. The SATS listing adds another preferred share with a fixed dividend to that market, giving investors a different structure than simply holding the company's common equity.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.