MERCURY vs SATS
MERCURYSATS
Permanent link to this comparison
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In summary
Generated from the terms, not an opinionMERCURY pays a fixed rate and can convert into common stock; SATS pays a fixed rate.
MERCURY pays quarterly, SATS pays each business day.
They are issued by different companies (Metaplanet Inc., Strive, Inc.), so their claims rank against different balance sheets.
They are denominated in different currencies (JPY, USD); figures are shown without FX conversion.
Effective yield, six months
MERCURYSATSBitcoin, right axisTerms, aligned
Rows above the line move with price| Term | MERCURY Metaplanet Inc. | SATS Strive, Inc. |
|---|---|---|
| Last close | — | $95.20 |
| vs par | — | −4.80% |
| Effective yield | — | 15.76% |
| Stated rate | 4.90%, fixed | 15.00%, fixed |
| Rate mechanism | Fixed | Fixed |
| Cumulative | — | Yes |
| Frequency | quarterly | each business day |
| Next payment | — | 9 Nov 2026 |
| Rank within issuer | 2 (1 = most senior preferred) | 2 (1 = most senior preferred) |
| Redemption | — | Clean-up (<25% of all SATS ever issued outstanding) and tax redemptions only, at liquidation preference plus accumulated dividends. No general optional call. |
| Conversion | Long-dated option to convert into common at ¥1,000 (secondary source; mechanics unverified) | None |
| Listing, currency | Unlisted, JPY | Nasdaq, USD |
| Terms as of | 20 Nov 2025 | 20 Oct 2026 |