ASST Could Become the #2 Bitcoin Treasury in 2026

— Strategy purchased 1,665 Bitcoin ($142M) and raised $246M via common ATM, reaching all-time high BTC holdings while continuing $152M STRC buyback program.

— STRC remains below par despite ongoing buybacks; research suggests buybacks are less effective than allowing market recovery through time and trust.

— Strategy announced daily dividends for STRC, STRF, STRC, and STRD starting November 2024, adopting Strive's successful feature.

— Strive purchased 1,107 Bitcoin (4% of holdings) last week and raised $100M in CETA; ASST warrant exercise could unlock $700M in fresh capital.

— If most ASST warrants exercise, Strive could become the #2 corporate Bitcoin holder globally behind Strategy by year-end, potentially surpassing MetaPlanet.

— Rising short interest on ASST (nearly equal to warrants outstanding) adds upside catalyst; Strive may de-amplify via ATM during Bitcoin parabolic phase to avoid over-leverage at market tops.

— Monitor STRC's path to par and watch for institutional inflows post-three-year mark; daily dividends may attract retail demand while true institutional strength materializes in 2027.

— If ASST warrants exercise near-fully, expect $700M Bitcoin accumulation from Strive; this could accelerate the path to #2 corporate holder status and trigger further SATA issuance at favorable mNAV.

— Observe how Strive manages de-amplification during Bitcoin bull parabola (via ATM hits and USD reserve deployment) versus Strategy's cash-stacking approach; this real-time comparison will reveal which capital allocation strategy performs better across cycles.