Strive Asset Management announced it has allocated $50 million of its corporate treasury to STRC, the variable-rate perpetual preferred stock issued by Strategy. This investment, representing over a third of Strive's treasury reserves, highlights growing institutional appeal for yield-generating securities tied to Bitcoin-focused treasury strategies.
Strategy's STRC, traded on Nasdaq, offers a floating dividend and serves as a liquid treasury asset. Currently trading around $100 with an 11.5% variable dividend, it aims to provide stronger yield dynamics than traditional money market funds. Strive, a structured finance company and asset manager holding approximately 13,311 Bitcoin, sees this allocation as a strategic move to enhance yield while maintaining liquidity.
The development follows increased Wall Street coverage of Bitcoin treasury strategies, with B. Riley Securities initiating coverage of Strategy with a Buy rating.