Strive may sell BTC as preferred dividend burden rises, CryptoSlate says

CryptoSlate analysis suggests Nasdaq-listed Bitcoin treasury company Strive may eventually sell BTC to raise cash as the dividend burden from its preferred shares grows. As of late June, Strive had issued 7,829,502 shares of its perpetual preferred stock, SATA, implying an annual dividend obligation of about $102 million at the current 13% rate. As of Aug. 7, local time, the company held $155 million in cash and cash equivalents, enough to cover roughly 18 months of dividends by simple calculation. The company disclosed it could sell BTC or related products to meet future cash dividend obligations, but the statement described a risk factor rather than an actual sale plan. Strive held 20,167 BTC as of Aug. 7, local time, CryptoSlate reported.