SATA — Strive's Preferred Equity Instrument
Annual Dividend Rate
13.00%
Announced rate (issuer disclosed)
Effective Yield at Current Price
13.00%
Based on $13.00 annual dividend at $100 par
Distribution Frequency
Daily
~$0.05 per share/day
Cash & Equivalents
$248.8M
Pure cash figure (excludes STRC shares held) · disclosed Sep 25, 2026
About SATA
SATA is Strive's perpetual preferred equity instrument, listed on the Nasdaq. It pays a 13.00% annual dividend distributed daily in cash (~$0.052 per share per day), with Strive aiming to hold it in a $99–$101 trading range. SATA is available on most major brokerage platforms.
As preferred equity, SATA sits below debt but above common equity in Strive's capital structure. In the event of liquidation, preferred stockholders are paid before common shareholders, giving SATA a meaningful layer of protection relative to pure equity. Strive backs the instrument with over 27,462 Bitcoin in reserve assets and maintains 18 months of pre-funded cash reserves to cover dividend payments.
Strive is a Nasdaq-listed financial services and Bitcoin treasury company, founded in 2022 by Vivek Ramaswamy. It positions itself as a Bitcoin-first asset manager focused on financial returns rather than ESG objectives, and has made Bitcoin a cornerstone of both its treasury strategy and its financial product offering.
What I find reassuring about SATA is that 18-month cash buffer — the near-term dividend isn't riding directly on the Bitcoin price. What I'd keep an eye on is that the rate is set at the board's discretion rather than by a published formula.
Visit Strive.comHow SATA is structured
Who ranks ahead of it, who ranks behind it, and where the dividend money comes from.
All legacy debt retired Q1 2026 · Zero existing indebtedness · Debt-free by policy
13% variable rate · Daily payments · Only preferred series · Most senior security outstanding
Absorbs losses first · No dividend priority · Uncapped upside from Bitcoin appreciation
Strive Inc capital structure as of June 2026 · Source: SEC 424B5 prospectus filings
What ranks above it
Nothing, today. Strive cleared the last of its inherited debt (the $120m of convertible notes that came with the Semler Scientific acquisition) in early 2026 and has committed to staying debt-free. SATA is the most senior security Strive has.
That is a policy, not a guarantee. The prospectus says SATA is "junior to Strive's existing and future indebtedness and structurally junior to the liabilities of Strive's subsidiaries", so any debt Strive takes on later would rank ahead.
What ranks below it
ASST common stock (Class A and Class B). It absorbs losses first, is paid last and keeps the uncapped upside from Bitcoin. SATA is Strive's only preferred series, so there is no junior preferred in between.
How the dividend is financed
Strive's 27,462 Bitcoin is the long-term backing, but it doesn't pay the dividend. A dedicated, ring-fenced cash reserve does.
At the time of my capital-structure article in June 2026 the reserve was about $137m, sized to cover roughly 18 months of SATA dividends without selling a coin. Strive's latest disclosed cash and equivalents are $248.8M (25 September 2026).
With no debt ahead of SATA, the reserve doesn't have to cover interest first. Longer term, Strive funds growth through preferred and common equity, and has committed not to issue new SATA below $100 through its at-the-market programme.
Read more: Strive's capital structure · How SATA works
Tools
Live Price Chart
Track the SATA market price in real time against its $100 par value. As the price moves, the effective yield changes — use the chart to spot when SATA is trading at a premium or discount and understand what that means for your entry yield.
Growth Projector
Enter an investment amount and time horizon to model your projected income and portfolio growth from holding SATA. Adjust the reinvestment rate to see the compounding effect, and compare returns against US Treasuries and bank savings side by side.
vs Treasuries
Compare the income from SATA's dividend against US Treasuries and bank savings over any time period. Enter your investment amount and the tool shows the difference in dollar terms.
Dividend History
A complete record of every SATA dividend payment — per-share amount, payment date, and record date. Enter your holding size to calculate exactly how much you received or will receive from each distribution.
A yield like this always comes with risk — board discretion over dividends, rate changes, and crypto-collateral volatility among them. Read the full risk guide →
Important Disclaimer
Digital Credit Yield is not a financial advisor. All content is provided for educational and research purposes only. Nothing on this site constitutes financial advice, investment advice, or a solicitation to buy or sell any financial instrument. Always consult a qualified financial adviser before making investment decisions.