Strive Shares Surge 13% as Bitcoin Nears $69,000, Preferred Dividend Boosted
Strive Inc shares jumped 13.2% as Bitcoin climbed toward $69,000, driving a mark-to-market increase on its 13,131.8 Bitcoin treasury and $127.2 million cash balance. The board boosted its Series A perpetual preferred dividend from 12.25% to 12.50%, declaring $1.0417 monthly per share.
1. Stock Reaction to Bitcoin Rally
Strive shares climbed 13.12% Friday as Bitcoin approached $69,000, prompting investors to aggressively reprice the equity based on its digital-asset holdings.
2. Treasury Holdings and Balance Sheet Impact
In a Feb. 11 filing, the company disclosed 13,131.8 Bitcoin in its treasury alongside $127.2 million in cash, with recent Bitcoin gains boosting its balance sheet by hundreds of millions.
3. Preferred Dividend Hike
The board approved raising the dividend rate on its Series A perpetual preferred stock from 12.25% to 12.50% and declared a $1.0417 monthly cash dividend per share.
4. Technical Indicators and Support Levels
Strive trades 40.4% below its 20-day SMA and 64.6% below its 100-day SMA, with an RSI of 27.42 indicating oversold conditions and key support at $7.50.