Strive Inc. Class A shares edged higher in premarket trading Friday, extending gains from the prior session as investors continued to embrace the company's bitcoin-centric treasury strategy ahead of the Memorial Day weekend. According to Google Finance data, the stock changed hands at $19.24 before the opening bell, up from Thursday's close of $18.53, representing a gain of 9.13%. U.S. equity markets will be closed on Monday, May 25, in observance of Memorial Day, as per the Nasdaq holiday schedule.
Bitcoin Acquisition Details
Strive disclosed in a Form 8-K filed with the Securities and Exchange Commission on May 19 that it purchased 381.61 bitcoin between May 13 and May 18 at an average price of approximately $79,348, inclusive of fees. This latest acquisition brings the company's total bitcoin treasury to 15,391 coins, reinforcing its position as a prominent player in the bitcoin-treasury space.
The company's balance sheet as of May 18 showed $87.3 million in cash and cash equivalents, along with $49.8 million held in Strategy Inc.'s Variable Rate Series A Perpetual Stretch Preferred Stock. This strategic holding ties Strive's financial health directly to the broader bitcoin-treasury ecosystem, with Strategy Inc. serving as a key peer in this niche market.
Preferred Stock Dividend Changes
Strive has placed its SATA preferred security at the forefront of its investor pitch. On May 14, the company announced that starting June 16, it would begin paying dividends on SATA shares on a daily basis, a shift from the previous less frequent schedule. The board of directors maintained the annual dividend rate at 13.00%. For the period from June 16 through June 30, Strive set daily cash dividends of $0.0542 per SATA share for each business day.
Matthew Cole, chairman and CEO of Strive, described the daily dividend program as a “zero-to-one innovation.” He also emphasized that the company is “debt-free” with “zero encumbered Bitcoin,” using the announcement to reinforce the firm's financial strength and strategic direction.
Market Positioning and Context
Strive positions itself as the first publicly traded asset-management bitcoin-treasury corporation, a designation highlighted on its official investor-relations page following its merger in September 2025. Its wholly owned subsidiary, Strive Asset Management LLC, oversees more than $2 billion across 13 exchange-traded funds, collective investment trusts, and a direct-indexing platform.
Stock-index futures edged higher early Friday, with Dow Jones, S&P 500, and Nasdaq 100 futures all trading in positive territory at 6:52 a.m. ET, as market participants monitored ongoing Iran peace talks. According to Reuters, the broader market improved amid these developments. Peter Cardillo, chief market economist at Spartan Capital Securities, characterized the talks as “a supportive factor for investors.”
Risk Factors and Recent Performance
Strive has cautioned in regulatory filings that its bitcoin-treasury strategy carries significant risks, including volatility in digital asset prices, regulatory changes, market fluctuations, and potential dilution from additional share issuance. The company's first-quarter financial results underscore the volatility inherent in its approach: Strive reported a GAAP net loss of $265.9 million, with $295.8 million attributable to a decline in the fair market value of its bitcoin holdings.
As ASST shares trade Friday following the latest update, the bitcoin-proxy trade faces another test. Investors must decide whether to hold positions ahead of the three-day weekend, with the company's disclosure now in the market and bitcoin's price trajectory remaining the ultimate driver.
