Strategy · Michael Saylor · The Block
Strategy’s STRC preferred stock closes day 11% under par at $89
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Strategy’s "Stretch" preferred stock (STRC), designed to pay a high dividend while maintaining a stable price around $100, is trading below $90 on Wednesday afternoon.
Key facts
- Notably, in late May, Strategy sold 32 BTC for about $2.5 million to fund distributions on STRC, the first time it has liquidated BTC since it began accumulating in 2022
- Strategy’s "Stretch" preferred stock (STRC), designed to pay a high dividend while maintaining a stable price around $100, is trading below $90 on Wednesday afternoon
- Although STRC has traded below par in the past, Wednesday's $89 appears to be the lowest non-adjusted daily close on record, and among the few times the stock has traded below its initial public
- Of note, SATA, the preferred stock Strive created to mirror Strategy's STRC, is trading above $99 on Wednesday, and offering 13.69% rate
Summary
STRC, or the Variable Rate Series A Perpetual Stretch Preferred Stock, is a bitcoin-backed equity issued by Strategy, the fintech firm that turned into a bitcoin-buying behemoth under Chairman Michael Saylor’s stewardship. Strategy issued the stock in July 2025 as part of a suite of assets created to raise funds and bolster its bitcoin acquisitions. The stock acts like a high-yield digital credit, currently paying a 12.9% effective rate doled out as a cash dividend to holders semi-monthly. When above par, Strategy issues new shares to buy bitcoin.