Michael Saylor, executive chairman of Strategy (MSTR), has praised Strive's new Variable Rate Series A Perpetual Preferred Stock (SATA) for its innovative daily dividend structure. As reported by multiple sources, Saylor called the announcement "impressive" on X, congratulating Strive and CEO Michael Cole. The praise comes as Strategy itself is considering enhancing its own dividend structure, with Saylor proposing earlier this week that MSTR should pay out dividends twice a month on its Variable Rate Series A Perpetual 'Stretch' Preferred Stock (STRC) from its current monthly cadence. The vote remains open to Strategy shareholders until June 8, with the company planning to start paying out dividends on the new cycle on July 15 if the vote passes. MSTR's stock gained around 7% in midday trade on Thursday following Saylor's comments.
Strive reported disappointing first quarter 2026 results that missed market expectations on both revenues and earnings per share. The company posted revenue of $2.76 million, falling short of analysts' expectations of $3 million, according to Koyfin data. Loss per share came in at a whopping $5.19, versus expectations of a loss of $0.12 per share. The company also reported a GAAP net loss of $265.9 million for the quarter, with $295.8 million (96.6%) of the loss attributable to fair market value decreases in bitcoin holdings. The non-GAAP adjusted net loss was $319.7 million, or $5.19 per diluted common share, with $295.8 million (92.5%) from bitcoin fair value decreases and $13.7 million (7.5%) from other business operations. As of May 12, 2026, Strive's cash and cash equivalents totaled $87.6 million, while the company's position in SATA Stock had a fair value of $50.5 million.
Strive has announced that its preferred stock will begin paying cash dividends every single business day starting June 16, marking a historic first in U.S.-listed securities history. According to the company's statement, CEO Matthew Cole described the daily dividend structure as a 'zero-to-one innovation', positioning SATA as a cash yield instrument designed to compete with and improve upon traditional money market alternatives. The firm maintained the Variable Rate Series A Perpetual Preferred Shares (SATA) dividend rate at 13% per annum, but the move to daily payments from monthly lifts the effective annual percentage yield to approximately 13.88%, representing a 7.6 basis-point improvement over monthly payment structures due to more frequent compounding across roughly 250 business days per year. The appeal rests on frequency - investors receive cash flows each trading day rather than waiting for monthly cycles, which can improve reinvestment efficiency and portfolio liquidity, mirroring certain fixed income ladder strategies within an equity wrapper.
Strive currently holds 15,009 bitcoin, ranking it as the ninth-largest publicly traded company globally by bitcoin treasury holdings. According to the company's statement, SATA is structured similarly to Strategy's (MSTR) equivalent, Stretch (STRC), and trading above par allows the company to issue more shares through an at-the-market (ATM) sales channel, raising cash to bolster its bitcoin holdings. With Bitcoin changing hands around $81,500 as of this writing, the sum was valued around $1.2 billion. The company acquired a total of 6,001 bitcoin during Q1 2026, including 5,048 bitcoin from the acquisition of Semler Scientific, Inc. and 953 bitcoin from open market purchases. Despite the earnings miss, Strive's stock rallied around 7% in midday trade, with retail sentiment around the company on Stocktwits rising to 'extremely bullish' from the 'bullish' zone over the past day. The company completed a follow-on registered public offering on January 27, 2026, issuing 1,320,000 shares of SATA Stock at $90.00 per share, resulting in net proceeds of approximately $109.3 million.
In addition to the daily dividend launch, Strive has achieved a significant milestone by retiring all outstanding debt. As reported by the company, following the repurchase of its remaining long-term notes payable, Strive now carries zero short or long-term debt obligations, with no margin requirements and no encumbered bitcoin. This debt-free position strengthens the company's financial foundation and eliminates traditional financing constraints that could impact future operations and dividend sustainability. The clean capital structure supports SATA's pitch as a yield vehicle tied to digital assets without layered credit risk, positioning it as an alternative to money market funds and other short-duration income vehicles.
