How Strive's huge announcement will help fund its bitcoin purchases

00:00 Speaker A

ASST stock rises overnight. That's not really the story. This is the story. Strive launches IPO of 15% Sats preferred stock to fund Bitcoin purchases. And if I turn on this handsome guy, you can see me, talk next to me.

00:17 Speaker A

Didn't know I was going to be in that article, but feels like an opportunity to show you myself twice.

00:24 Speaker A

Like Michael Keaton. Was that the movie, Duplicity? What was that? Multiplicity.

00:29 Speaker A

Bunch of me running around. Clones everywhere. Nobody wants that.

00:33 Speaker A

Literally nobody, especially my wife.

00:35 Speaker A

Nightmare.

00:36 Speaker A

So, this is a huge announcement from Strive. They're launching the IPO of 15% SATs. They have their project product SATA, which is competition to STRC from strategy, who also has Strive and Stride and strig and stract and strock and stc, STRD and STRP and all the other things that you might have gotten in college.

00:55 Speaker A

Um, so, this is different. They're raising $500 million. It's going to have a 15% annual cumulative dividend at a fixed rate, unlike the I believe it's 12% or third, the variable rate that comes with the preferreds like STRC and SATA. They can use this to buy Bitcoin, uh income producing assets, acquisitions and share repurchases.