Strive CEO Matt Cole wants investors to know his company can keep paying dividends even if Bitcoin decides to take an extended nap. The firm has bumped its cash and marketable securities reserve from 12 months to 18 months, specifically designed to cover SATA variable dividend payments through a bear market as severe as the 2022-2023 drawdown.
What SATA actually is and why the reserve matters
SATA is Strive’s Variable Rate Series A Perpetual Preferred Stock, trading on the Nasdaq under the ticker ASST. It’s being positioned as a “digital credit” instrument, giving investors Bitcoin exposure with income attached and, theoretically, less volatility than holding BTC outright.
The preferred stock trades in a range of $99 to $101 and currently pays a variable dividend of approximately 13% APR. Starting June 16, 2026, those dividends shifted to daily payments rather than the previous cadence.
Cole’s argument is straightforward. The longest Bitcoin bear market in history, the 2022-2023 stretch that saw BTC fall from roughly $69K to under $16K, lasted less than 18 months. By holding enough cash and marketable securities to cover dividend obligations for that full duration, Strive is saying it wouldn’t need to sell any Bitcoin at distressed prices to keep shareholders paid.
