# Strategy's Preferred Stock Falls Below Par, Straining Its Bitcoin Funding Engine

The variable-rate preferred whose dividends forced the company's first bitcoin sale now trades below its par value.

- Published: 2026-06-18T10:27:49.399Z
- Canonical: https://polylog.news/crypto/2026-06-18/strategy-s-preferred-stock-falls-below-par-straining-its-bit
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [CoinDesk](https://www.coindesk.com/markets/2026/06/18/strategy-s-strc-preferred-stock-hits-a-record-low-below-par), [CryptoSlate](https://cryptoslate.com/strategys-10-billion-strc-bitcoin-yield-product-sinks-to-yearly-low-as-market-demands-higher-payout/)

Strategy's variable-rate Series A perpetual preferred stock, known as STRC, fell below its par value to a record low, according to CoinDesk. The roughly $10.5 billion instrument is one of the main tools the company, formerly MicroStrategy,…

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