# Strategy's Preferred Shares Stay Below Par as a Crypto Investor Questions the 12% Coupon

Tushar Jain argues the dividend does not compensate holders for another deep bitcoin drawdown, while a separate treasury vehicle asks shareholders to approve dilution of 167% of its share base.

- Published: 2026-08-23T05:46:20.809Z
- Canonical: https://polylog.news/crypto/2026-08-23/strategy-s-preferred-shares-stay-below-par-as-a-crypto-inves
- Publisher: Polylog (Crypto desk)
- Section: crypto
- Sources: [crypto.news](https://crypto.news/strc-stays-below-100-dollars-as-jain-questions-yield/), [CryptoSlate](https://cryptoslate.com/a-1-billion-meme-coin-acquisition-puts-a-massive-167-share-dilution-down-to-a-single-vote-for-zerostack/), [Bitcoin Magazine](https://bitcoinmagazine.com/news/pantera-capital-says-bitcoin-to-go-higher)

Strategy's STRC preferred stock has stayed below its $100 stated value, trading at $95.31 even as bitcoin recovered to about $77,125, according to crypto.news. Tushar Jain, co-founder of Multicoin Capital, argues the instrument's 12% divide…

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