Strive Jumps 5% as CEO Declares the Bitcoin Bear Market Over, Strategy and Bitmine Rise 3%

Strategy (MSTR) held $5.1B in cash, buying no bitcoin but spending $204.9M on preferred stock buybacks. $4.83B is earmarked for dividends. Q3 results on Oct. 29 will show bitcoin growth and the pause's duration. The company had negative free cash flow of $112M in fiscal 2025.

Strategy (MSTR) expects a significant reversal in Bitcoin-related results, with an estimated $20.91B gain in Q3 after an $8.32B loss in Q2. The company's earnings report will focus on Bitcoin gains and a shift in buyback strategy.

Strategy shareholders approved daily dividends for four preferred stocks, with 99.3% voting in favor. The change aims to enhance liquidity and stability, with dividends accruing daily but paid on the next business day. STRC's dividend rate was 11.50% as of June 30, 2026. The company's common stock, MSTR, is down 50% over the past year but up nearly 1,000% since 2020. The board must approve the change before new payment schedules begin.

Strive, Inc. (Nasdaq: ASST) completed a US$630 million IPO of 7,000,000 shares of 15.00% Series A Perpetual SATS Preferred Stock, traded as SATS. Proceeds will be used for corporate purposes, including bitcoin acquisitions and working capital. Barclays and Cantor Fitzgerald led the underwriting. DLA Piper advised the underwriters.

Strategy (MSTR) reported no bitcoin or stock sales from Oct 19-25, 2026, holding 848,517 BTC at an average cost of $75,446. It repurchased 2.07M shares of preferred stock for $204.9M, with $956.8M and $1B remaining for preferred and common stock buybacks, respectively. The company's USD reserves totaled $4.83B, with $242.4M in cash.

StoneX raised its price target for Strive, Inc. (NASDAQ:ASST) to $43 from $32, citing its Bitcoin treasury strategy and preferred share structure. The company recently completed a $630 million IPO of preferred shares and holds 43,000 BTC. Strive shares were down 9.15% at $26.32 post-announcement.