Jan3 CEO Samson Mow says the recovery could signal renewed confidence in preferred-share products used by Bitcoin treasury companies.
Strive’s SATA preferred shares have rebounded from a June low of $83.30 to about $97, recovering most of the selloff and moving back within roughly 3% of their $100 par value, according to Yahoo Finance data.
Strive introduced SATA in November 2025 as part of its strategy to finance the expansion of its Bitcoin treasury through preferred equity. The variable-rate perpetual preferred stock is intended to trade near its $100 par value by adjusting its dividend rate, allowing Strive to raise capital for its Bitcoin (BTC) treasury without issuing additional common shares.
SATA is one of a growing number of preferred-share products tied to Bitcoin treasury strategies, an emerging segment that companies such as Strategy describe as “digital credit.”
Strategy’s STRC, launched in 2025 with a similar objective of maintaining a $100 share price through a variable dividend, also fell sharply during the late-June selloff before recovering, though it continues to trade below par at around $87.
SATA year-to-date price chart. Source: Yahoo Finance
While Strategy remains the world’s largest public corporate Bitcoin holder with 843,775 BTC, Strive has climbed to seventh place with 19,921 BTC, according to BitcoinTreasuries.NET.
Top 10 Bitcoin treasury companies. Source: BitcoinTreasuries.NET
Related: Strategy raises $263.5M through MSTR sales, holds 843,775 Bitcoin
Jan3 founder and CEO Samson Mow told Cointelegraph that recent adjustments by Bitcoin treasury companies are beginning to restore confidence in preferred-share products, supporting his view that Bitcoin has already found its bottom.
“I think every action that Strategy has undertaken to strengthen their balance sheet and encourage STRC to go back to par is also working,” Mow said, adding:
Mow said the improving performance of preferred-share products is part of a broader shift in the Bitcoin treasury sector, where companies have continued refining their capital-raising strategies.
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