Strive's perpetual preferred stock has reached a par value of $100 for the first time, which may help it continue to increase its Bitcoin holdings.

Bitcoin treasury firm Strive's perpetual preferred stock (SATA) reached a par value of $100 per share for the first time last Friday, a level that allows it to sell more shares to raise funds for further Bitcoin purchases. The stock offers a 12% dividend yield, resulting in an effective yield of 12.2%. Strive currently holds 12,797 bitcoins on its balance sheet, with its common stock priced at $0.94.