Strive's Bitcoin Funding Model Hits a Wall as SATA Falls Below $100
- —SATA raised roughly $55 million this week, equivalent to nearly 638 BTC
- —The stock closed below its $100 par value in three of five sessions
- —Strive held 29,462 BTC and 1,304,902 preferred shares as of October 2
- —Annualized dividend obligations are estimated at $168.2 million
Why it matters: The Strategy-style model only works while investors buy preferred shares above par; a drop below $100 cuts off the main funding source for bitcoin purchases.
Source: Cointribune EN