PANews reported on November 10 that, according to GlobeNewswire, Bitcoin asset management company Strive (NASDAQ: ASST, SATA) announced the successful listing and oversubscription of its Variable Rate Class A Perpetual Preferred Stock (SATA) IPO, increasing the offering size to 2 million shares at a price of $80 per share.

The company also disclosed that it increased its holdings by 1,567 BTC during the brief dip in Bitcoin below $100,000, at an average purchase price of $103,315, totaling approximately $162 million. As of November 10, Strive held a total of 7,525 Bitcoins.

Strive stated that the SATA dividend is expected to be paid out in the form of "return of capital" (ROC), enhancing investors' after-tax returns; this financing makes it the second Bitcoin vault company, after Strategy, to raise funds through public perpetual preferred stock.