Data compiled by Woofun AI indicates that Strive, a bitcoin asset management firm, has seen its annualized preferred dividend liability surge by nearly $12 million within a single week. The primary driver behind this increase is a notable expansion in its holdings of Satan Preferred Stock. Between August 28 and September 4, Strive's position in Satan Preferred Stock climbed from 9,073,914 shares to 9,995,425 shares, representing a net addition of 921,511 shares.
This security is a perpetual preferred stock with a floating interest rate, currently carrying a dividend yield of 13%. Accordingly, the periodic dividend payout has risen in line with this rate. Based on the total number of shares sold and outstanding as of the daily 4:00 PM cutoff, the annualized dividend total reached $129.9 million on September 4, up from $118 million on August 28—an increase of roughly $12 million. Woofun AI's analysis shows that this growth stems directly from the multiplicative effect of an expanding share base combined with a fixed dividend rate.
For September, the board has determined that on each of the 21 business days, shareholders of record at the close of the prior trading day will receive a dividend of $0.0516 per share. During the same period, the company's cash and cash equivalents rose from $183.5 million to $202.6 million, an increase of $19.1 million. By dividing the cash balance by the annualized dividend amount and multiplying by 12 to calculate a static coverage period, the September 4 figure stands at 18.71 months—marginally above the August 28 level of 18.67 months—indicating that the liquidity buffer remains broadly stable.
It is worth noting that this static ratio does not account for operational requirements, future financing costs, or other current assets. Among the items excluded from this calculation is STRC preferred stock, which totaled 505,000 shares as of September 4, carrying a market value of $49.364 million. This level of structural complexity suggests that the actual solvency position may be stronger than surface numbers indicate, yet it also adds difficulty to the interpretation of financial transparency.
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