**Strive** received a nod of approval from **Benchmark-StoneX** analysts after the Bitcoin-buying asset manager padded cash reserves while growing its stockpile. The firm purchased **2,500 BTC** last week, expanding its holdings to **19,000 BTC ($1.3 billion)**, and raised $44 million to ensure dividends on its preferred stock can be paid.

Strive has devised a variable-rate product dubbed **SATA**, offering a **13% annual dividend in daily payouts** starting June 16—the first listed security in the U.S. to offer routine daily dividends. Analyst Mark Palmer described Strive and Strategy as **friendly rivals**, not competitors, as both are committed to furthering "digital credit." He said, "This is not a zero-sum game."

The investment bank initiated Strive coverage with a **"Buy" rating and $32 price target**. Despite shares falling 6.6% on market jitters from Strategy's first Bitcoin sale since 2022, Strive is doubling down: Chairman Matt Cole announced plans to increase an issuance program by **$4.2 billion**.

Strive's framework **differentiates it** from most other Bitcoin treasury companies, as it relies on **debt-free preferred stock** rather than convertible debt or margin financing. SATA's lack of refinancing and collateral risks mitigates forced deleveraging during Bitcoin price downturns.

Palmer described Strive as **"nimble"** for swiftly shifting SATA's dividend format, while Strategy has asked shareholders to vote on bi-monthly distributions. Strive has also shaken off its debt entirely, a process Strategy signaled could take 3-6 years.

Benchmark-StoneX reiterated a **"Buy" rating and $570 price target** for Strategy, arguing the market wrongly treated its 32 BTC sale as a betrayal. They expect Strategy to remain a significant net buyer of Bitcoin.

Benchmark-StoneX analysts grew bullish towards Strive after the Bitcoin-buying asset manager padded cash reserves while growing its stockpile.

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