Strategy’s STRC Stays Below Par as Strive’s SATA Draws Investors
STRC remains below the $100 par while Strive attracts capital with SATA. The battle over dividend yield and Bitcoin exposure is putting pressure on the treasury market.
Key Takeaways
- Strategy has spent $635.2 million on STRC buybacks, but the perpetual preferred stock still trades around $97.34.
- Strive’s SATA offers a 13% annual dividend with daily payouts, keeping STRC under pressure, while SATA stayed near the $100 par value for longer.
- Strategy bought 4,603 BTC for $369.7 million last week, bringing its total Bitcoin holdings to 845,050 BTC.
Strategy’s perpetual preferred stock STRC remains stuck below the $100 (€86) par value, despite months of buybacks by the company. The Bitcoin treasury company has now spent $635.2 million (€548 million) to buy back STRC, but the stock is still trading around $97.34 (€84).
The buyback campaign picked up speed after Strategy announced a $1 billion (€0.9 billion) program. Since STRC was trading around $71 (€61), the price has climbed to nearly $97 (€84), but the latest purchase shows the company now has to pay more and more for it. The most recent buyback came to $151.8 million (€131 million) at an average price of $97.48 (€84).
Strive Puts STRC Under Pressure
Competition from Strive’s SATA seems to be a major reason STRC is still struggling to get above par. SATA offers an annual dividend of 13% with daily payouts, compared with 12% per year for STRC, which pays out twice a month. SATA stayed near the $100 (€86) par value for more than a week, giving Strive room to issue additional shares through its at-the-market program.
That cash helped Strive buy 1,800 BTC over the past week. Bitcoin itself was trading around $77,934 (€67,200) earlier this week, showing that the market for treasury companies is still moving as they raise and deploy capital.
Strategy Around Bitcoin and MSTR
Strategy bought Bitcoin again last week for the first time in two months. The company bought 4,603 BTC for $369.7 million (€319 million), at a price of about $80,000 (€69,000) each. That brought total holdings to 845,050 BTC, worth $65.9 billion (€56.8 billion).
The differences are also visible in the common shares of both companies. ASST is up 60% this year, while MSTR is down 15%. For European crypto followers, this matters because it shows how quickly the market for bitcoin treasury stocks can shift between capital raising, dividend structures, and direct exposure to Bitcoin.
Strategy’s recent return to buying lines up with signs that Michael Saylor was again hinting at a new Bitcoin purchase after BTC recovered toward $79,000 (€68,100).
