Strive plans to raise $500 million, increase holdings of Bitcoin, and launch 15% fixed dividend preferred stock

Bitcoin treasury company Strike announced the launch of perpetual preferred stock SATS, planning to issue 5 million shares at $100 per share and raise $500 million. The proceeds will be used to increase holdings of Bitcoin, acquire assets, or repurchase stocks. SATS provides a fixed annual dividend of 15%, paid on a daily basis. Last week, Strike increased its holdings of 3311 BTC, bringing its total holdings to 32773 BTC, valued at approximately $2.7 billion. Three months ago, it held less than 20000 BTC.