Strive just threw another $109M into 1,375 BTC last week, now sitting on 24,531 BTC – fifth-largest corporate hodler. Their common stock ASST? Up 114% in 30 days, neat. But before you FOMO in, take a look at how they're funding this: a 13% perpetual preferred stock called SATA that's basically a ticking time bomb for the suckers who'll end up holding it.
▪️ Bought 1,375 BTC between Aug 31 and Sept 4 at ~$79,281 per coin – SEC filing, not a leak.
▪️ Total BTC stash now 24,531 – fifth among corporate hodlers behind Strategy, MicroStrategy, and the usual suspects.
▪️ 70% of last week's capital came from selling SATA preferred stock, now $999M notional outstanding – basically printing money out of thin air.
▪️ SATA pays 13% annualized dividend every business day in cash – but funded by new issuance, not profits. Classic Ponzi-lite.
▪️ When SATA trades above par, management can issue more shares via ATM – diluting yield for existing holders. Because why make it fair?
▪️ ASST up 114% in 30 days, 6.4% in last 5 – and Michael Saylor replied with a rocket emoji. Predictable.
📊 Purchase:
$109M for 1,375 BTC📊 Avg price:
$79,281 per BTC📊 Total BTC:
24,531 BTC📊 ASST 30d:
+114%Retail's gonna get baited by that 13% yield on SATA, but newsflash: that yield ain't from earnings, it's fresh money from new issuance. BTC sneezes and this whole house of cards catches a cold. CEO Matt Cole wants to hit $1B in SATA, while ASST rides the hype train. If you're not already in, you're late – insiders and the company already took their profits. This is a pump with a hidden cost, and you're the one paying.
💬 «70% of the capital raised last week came from SATA, which now has $999M notional outstanding. Time to break the billion-dollar wall.» — Matt Cole, CEO of Strive
🔮 Strive is printing SATA to buy BTC, and retail is the bagholder du jour. The music stops when the dividend gets cut – and it will, just wait.
@exverse_chat
