Strive Boosts Dividend Burden with New Preferred Shares Purchase

Strive, a company that manages Bitcoin holdings for its shareholders, has issued nearly one million new preferred shares to purchase more BTC. This move has added approximately $12 million to its annualized dividend burden.

The SATA (S-1 preferred) shares were sold at an average price of around $79,281 per coin, including fees and expenses, resulting in a total purchase of 1,375 BTC. As of September 4, Strive's Bitcoin holdings stood at 24,531 BTC.

The increased share base implies that the company will pay out about $130 million annually, given its current 13% dividend rate. This is a significant increase from the estimated $118 million in annual payouts for August.