Strive Has Not Issued Common Stock for Two Weeks, CEO Says

Strive CEO Matt Cole said the Bitcoin (BTC) treasury company has gone two weeks without issuing common shares, saying sales at current prices would dilute existing shareholders.

Cole also said Strive removed its market-to-net-asset-value ratio (mNAV) calculation from its dashboard over the past week. The ratio compares a company's market value with its net asset value; a 1.0 reading means the two are equal, while a reading below 1.0 indicates a discount. Cole said mNAV captures only a single point in time and treats Strive's operating business like a passive fund.

Cole said Strive uses preferred shares only to amplify its Bitcoin exposure, has no debt and has not pledged its Bitcoin holdings. He said the face value of Strive's preferred shares exceeded 70% of its Bitcoin holdings after the launch of SATS and the latest market decline.

Cole also cited a year-to-date gain of about 51% for ASST shares, compared with a roughly 19% decline for Bitcoin.

John Kim

John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to [email protected].