SATA — Strive's Preferred Equity Instrument

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 19,032 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.