Strategy CEO Phong Le announced a shift in the financing tactic for BTC purchases. The company is gradually moving away from issuing common shares and focusing on perpetual preferred stock.
💼 What is changing
— Shift from equity capital to preferred capital
— Main instrument — Stretch (STRC)
— Annual dividend on STRC — >11%
— Already the fourth perpetual offering to finance Bitcoin purchases
The idea is simple: dilute MSTR less, attract more stable capital through preferreds.
📈 STRC back at $100 — what’s next?
On Wednesday, STRC returned to its $100 par value for the first time since mid-January. Previously, shares had fallen below $94 amid BTC’s drop under $60K.
Now that the price is back at par value, Strategy can relaunch the offering and direct funds toward new Bitcoin purchases.
BTC is currently trading around $66.8K — without a clear impulse.
🧠 Why not buy competitors?
There are more and more “Bitcoin treasury” companies on the market, and some are trading below their net asset value.
But Le considers buying competitors a distraction from the core strategy:
“In a new market, you need to focus on your own product. Buying other digital treasury companies is a distraction.”
📉 MSTR shares closed the session -5% at $126.14.
📌 Conclusion
Strategy is not slowing down on Bitcoin — it is changing the instrument. Less dilution, more dividend math. If STRC holds at $100, the market may see aggressive BTC purchases again.