Strive's two-week pause in common-share issuance reflects CEO Matt Cole's view that selling at current prices would dilute existing holders, while its shares trade at a discount, he said.
Strive removed its market-to-net-asset-value (mNAV) measure from its dashboard within the past week. Cole said the ratio offers only a momentary comparison and leaves out the company's operating activity.
Cole said Strive carries no debt and its Bitcoin (BTC) holdings are not pledged. He said the face value of the preferred shares exceeded 70% of Strive's Bitcoin holdings after SATS launched and market prices fell. SATS ranks ahead of common stock in the company's capital structure, as EconoTimes reported in its coverage of Strive's SATS sale.
Cole also cited ASST's roughly 51% advance year to date alongside Bitcoin's approximately 19% decline over the same period.
