Strategy's Bitcoin Buying Vehicle Nears Critical $100 Level

Key Summary

Strategy's preferred stock, STRC, is nearing the $100 level, a significant threshold that could unlock new capital for the company's Bitcoin treasury. This would enable Strategy to grow its cryptocurrency position without issuing more MSTR common shares. The $100 price level is crucial as it yields a 12% annualized dividend, making it an attractive source of capital. Strategy has $17.5 billion of remaining capacity in its at-the-market program, which could be used to buy Bitcoin. Historically, STRC has played a role in funding large Bitcoin purchases, with the company's original issuance of STRC raising $2.47 billion in 2025, followed by a $2.46 billion purchase of 21,021 BTC.