Strive's perpetual preferred stock has reached a par value of $100 for the first time, which may help it continue to increase its Bitcoin holdings

According to market news, the perpetual preferred stock (SATA) of Bitcoin treasury company Strive has first reached a par value of $100 per share, a level that allows it to sell more shares to raise funds for further Bitcoin purchases.

The stock offers a 12% dividend yield, with an actual yield of 12.2%. Strive currently holds 12,797 Bitcoins on its balance sheet, with its common stock priced at $0.94. The SATA structure is similar to that of another Bitcoin reserve company, Strategy's comparable product Stretch (STRC), where the trading price above par value means the company can raise cash through at-the-market (ATM) issuance to increase its Bitcoin holdings. STRC reached par value earlier this month, with trading volume last week hitting $755 million, of which $582 million occurred above par, marking the highest weekly total to date.