Strive’s Daily Dividend Experiment Is Paying Off Faster Than Expected

Welcome to the Bitcoin Balance Sheet. Each Monday, we recap last week's key developments and share our publication's leading stories.

Last week delivered a mix of strategic innovation and market signals across corporate Bitcoin treasuries — from Metaplanet's $13 million acquisition of a securities firm to fast-track preferred share distribution in Japan, to Strategy's STRC preferred stock hitting a record low of $84.90 even as the company added another 520 Bitcoin, and Strive ramping up its own accumulation behind the launch of daily dividends on SATA. Let's break it down.

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Strive Buys 759 BTC in First Week of SATA Daily Dividends

Strive bought an additional 759 Bitcoin in the first week of daily dividend payments on its SATA perpetual preferred stock. The purchase lifted its treasury to 19,864 BTC while it held seventh place on the Bitcoin 100.

SATA began paying dividends daily on June 16. It reached its $100 par value on three of the four trading days last week (Friday was a holiday) while carrying a 13% annualized yield. The debt-free structure and higher payment frequency have created a clear point of differentiation versus Strategy's STRC, which has seen renewed selling pressure.

The strong start to daily payouts illustrates how payment frequency and yield level are becoming decisive competitive factors in the Bitcoin-backed preferred share market. Strive's ability to pair treasury growth with a differentiated income product gives it a distinct lane even as larger players dominate absolute volume.

STRC Preferred Stock Hits Record Low of $84.90

Strategy’s perpetual preferred stock STRC has now reached $84.90, a new record low more than 15% below its $100 par value. It has not traded at par since mid-May. The latest decline follows the June 17 close at $89 and continued selling pressure after an earlier rebound toward $97.

The move lower came amid softer Bitcoin prices and rising competition from Strive’s SATA, which launched daily dividends on June 16 and has held at par. Strategy sold 32 BTC at the end of May for roughly $2.5 million to cover dividends — its first sale since 2022. At $84.90 the effective yield for new buyers now exceeds 13%. Cash reserves above $1 billion provide a buffer, and the variable-rate design gives Strategy room to adjust. Saylor’s stated goal is still to make STRC “the best credit instrument in the world.” The record low is best viewed as a stress test of that ambition.

MetaPlanet acquires securities firm for $13 million shortcut to preferred share distribution

MetaPlanet has signed a deal to buy 100% of Siiibo Securities for ¥2.1 billion (roughly $13.1 million). The acquisition brings a Type I license and online platform that will let MetaPlanet distribute Bitcoin-related yield products directly to Japanese retail investors without waiting for full exchange listing of its planned preferred shares.

As of May 31 MetaPlanet held 40,177 BTC. The move is the first concrete step in Project Nova, the company’s shift from pure accumulator toward a Bitcoin-centric financial ecosystem serving Japan’s large pool of household savings. It provides a practical bypass while the company builds the track record needed for eventual Tokyo Stock Exchange approval of its Mercury and Mars instruments.

A look at the leaderboard

The leaderboard saw only modest movement this week outside of the headline stories. Strategy added 520 BTC to reach 847,363 BTC. Strive acquired an additional 759 BTC to reach 19,864 BTC. MARA Holdings increased its holdings by 1,000 BTC to 36,303 BTC.

Smaller but consistent additions came from:

• DDC Enterprise +95 BTC → 2,899 BTC
• OranjeBTC +18 BTC → 3,822 BTC
• West Main Self Storage +0.15 BTC → 15.08 BTC

No major sellers stood out this week, preserving the net positive tone across the Bitcoin 100.

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