Strategy Inc Variable Rate Series A Perpetual Stretch Preferred Stock

STRC

Market cap $2.78B

Strategy's STRC is a perpetual preferred stock with an 11.50% current yield, paid monthly. The preferred coupons are supported by USD reserves of $2.25 billion, which provide coverage for 21.8 months. MSTR recently issued around 10 million new STRC shares to fund the purchase of 13,900 BTC and can raise up to $21.6 billion using STRC.

Michael Saylor, Strategy co-founder, joins 'Power Lunch' to discuss the company's new product launch, the stated dividend and much more.

DALLAS, March 11, 2026 (GLOBE NEWSWIRE) -- Strive, Inc. (Nasdaq: ASST; SATA) (“Strive” or the “Company”) today announced the following updates: SATA dividend rate increased by 25 bps to 12.75%. Dividend declared of $1.0625 per share of SATA Stock to stockholders of record the close of business on April 1, 2026, payable on April 15, 2026 Targeted SATA price range narrowed to $99-$101 from $95-$105 Updated guidance to not issue SATA via ATM or follow-on offerings below $100.00 Purchased 179 additional Bitcoin since last filing and now holds approximately 13,311 BTC Purchased $50 million (500,000 shares) of Strategy Variable Rate Series A Perpetual Stretch Preferred Stock (Nasdaq: STRC) SATA dividend reserve increased to 18 months (12 months cash and cash equivalents + 6 months STRC based on current STRC trading prices, which are subject to market conditions) from previously reported 12-month cash reserve Aggregate Bitcoin, STRC, and cash reserves cover over 19 years of SATA interest payments as of March 9th As of March 9, 2026, Strive held $143.4 million of cash and cash equivalents, of which $50 million was subsequently utilized to purchase shares of STRC, and approximately 13,311 Bitcoin.

Strategy (for which I said “Sell” on 2/13/26), is more than just a stock or even bitcoin play. It's actually the parent of four high-yielding children, more specifically preferred stocks. I can dislike parent MSTR but still like one or more of its children. It's like me being a customer of Citigroup and Schwab but hating bank and brokerage stocks. My favorite child, and I think MSTR's favorite too, is a so-called treasury credit nicknamed “Stretch” with a ticker STRC. An adjustable dividend keeps the price near par. Buy.

Strategy Inc (MSTR) Q4 2025 Earnings Call Transcript

Strategy (NASDAQ: STRC), formerly MicroStrategy, is issuing its first monthly dividend payment of 2026 next Saturday, January 31, continuing the schedule established in August last year when the company started rewarding holders of its Variable Rate Series A Perpetual shares.

Strategy's preferred stocks are evaluated, with a focus on STRC, STRK, STRF, and STRD for investment merit. MSTR's business model relies on capital raises to accumulate Bitcoin, lacking operational income to support fixed obligations during BTC downturns. STRD is rated Buy among the preferreds, despite lacking cumulative dividends or conversion features, due to its risk/reward profile and current market pricing.

Strategy's STRC preferred stock offers a 10.8% yield, trading near $97, with a board-adjusted dividend targeting a $99–$101 price range. STRC is a high-yield, Bitcoin-backed income instrument, with heavy overcollateralization and return-of-capital distributions, but lacks a hard price peg or FDIC insurance. STRC suits investors bullish on Bitcoin and Strategy's model, seeking high yield and willing to tolerate price volatility and occasional de-pegs.

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If you're interested in bitcoin, Strategy (MSTR) is worth a very close look. It's main “business” is bitcoin treasury – i.e., it buys and holds bitcoin. But that's just the start. It's “intelligent leverage” program, opportunistic capital raises and coin purchases, helps the company outperform bitcoin prices. MSTR now trades at a premium to the value of its bitcoin, but a narrower premium than in the recent past. That's OK. Intelligent leverage deserves some sort of premium.