Strive allocates $50M of treasury to Strategy’s STRC preferred stock
The investment makes Strive the latest corporate to add the yield-generating security to its balance sheet as companies explore Bitcoin-linked treasury instruments.
Strive Asset Management (ASST) said Wednesday it has allocated $50 million of its corporate treasury to STRC, the variable-rate perpetual preferred stock issued by Strategy.
The investment represents more than one-third of Strive’s treasury reserves and reflects growing institutional interest in yield-generating securities linked to Bitcoin-focused treasury strategies, according to a company announcement.
The allocation makes Strive the latest company to add STRC to its balance sheet, following similar moves by companies including Prevalon Energy, Anchorage Digital and Oranjebtc, according to Strategy.