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.

PANews reported on January 19th that, according to CoinDesk, Strive's perpetual preferred stock (SATA) reached a par value of $100 per share for the first time last Friday. This level allows Strive to sell more shares to raise funds for further Bitcoin purchases. The stock offers a 12% dividend yield, resulting in an effective yield of 12.2%. Strive currently holds 12,797 Bitcoins on its balance sheet, and its common stock is priced at $0.94.

The SATA structure is similar to Stretch (STRC), a similar product from another Bitcoin reserve company, Strategy. Trading above par value means the company can raise cash through an at-the-market (ATM) issuance channel to increase its Bitcoin holdings. STRC reached par value earlier this month, and last week's trading volume reached $755 million, with $582 million of that trading above par value, the highest single-week total to date.