Strive Asset Management, a Bitcoin treasury company whose common stock dropped 85% in a year, recently rebranded as Strive The Daily Dividend Company. This change occurred despite the common stock (ASST) opening at $16.83 today, down from over $268 last May. The company announced it will begin paying cash dividends on its SATA preferred stock every business day, starting June 16.
SATA preferred stock is designed to trade near $100 and offer a 13% annualized yield, but has traded as low as $81.02 in February due to enterprise uncertainty. Recent trading saw preferreds sold for $97.29 in the past month. Strive has increased its dividend rate four times since the SATA debut in November 2025 in an effort to encourage bids.
Matthew Cole, Chairman and CEO, described the daily-dividend mechanism as a "true zero-to-one innovation." This phrase is often associated with Peter Thiel's concept of creating entirely new markets or technologies.
For the three months ending March 31, Strive reported $2.76 million in revenue, against a GAAP net loss of $265.9 million. Net loss to common stockholders reached $279.4 million, equating to $4.53 per share of ASST. The company's co-founder is Vivek Ramaswamy, known for his involvement in political campaigns and previous cryptocurrency ventures, alongside a former Bud Light executive.
Approximately 4.4 million SATA shares are outstanding, each with a stated value of $100. At a 13% dividend rate, the annual dividend declarations on the full preferred stack exceed $55 million. The company generated only $2.76 million in quarterly revenue, with no reported profit.
This means Strive, with $11 million in annual revenue and no recent profitability, has committed to daily payouts that annualize above $55 million, in addition to its operational expenses. The company's long-term ability to service these dividends relies on a substantial rally in Bitcoin's price. Investors in the common stock since May 22, 2025, have seen 93% of their capital vanish, receiving no dividends. SATA holders own a volatile stock that aims to mimic a high-yield stablecoin but lacks the profitability to back its payouts.