Morning Edition · Monday, August 3, 2026Published at 1:28 AM EDT · New York
Strategy Holds Its 12% Preferred Dividend Below Par, Breaking From Its Own Playbook
The STRC security closed at $89.46 against a $100 face value, and rather than raise the rate to support the price, Michael Saylor's firm relied on buybacks and a $3.75 billion cash reserve.
Strategy, the Michael Saylor-led company that holds bitcoin as its primary treasury asset, kept the August dividend rate on its STRC preferred security at 12 percent even as the instrument traded below its $100 face value. crypto.news repor…
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Leveraged Bitcoin Treasury Vehicles Show Financing Strain
Over ~3-9 months, Bitcoin treasury companies face mounting financing stress as their funding instruments trade below par on dividend-coverage doubts, testing the sustainability of the debt/preferred-funded accumulation model.
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