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Strategy’s STRC perpetual preferred stock returns to $100, may trigger more bitcoin buying

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Strategy’s STRC perpetual preferred stock returns to $100, may trigger more bitcoin buying

The bitcoin treasury company's perpetual preferred equity, STRC, hit $100 for the first time since early November.

By James Van Straten|Edited by Sheldon Reback
Jan 7, 2026, 12:30 p.m.
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What to know:

  • Stretch (STRC), the perpetual preferred equity issued by bitcoin treasury company Strategy (MSTR) reclaimed its $100 par value in pre-market trading on Wednesday.
  • At that level, Strategy may sell more of the stock through at-the-market offerings to fund further BTC purchases.
  • STRC, which pays an 11% dividend, last traded at par between Nov. 4 and Nov. 13.

Stretch (STRC), the perpetual preferred equity issued by Strategy (MSTR), the largest corporate holder of bitcoin BTC$91,976.40, reclaimed $100 in pre-market trading for the first time since early November, opening the doors for sales to fund more BTC purchases.

STRC last traded at that level between Nov. 4 and Nov. 13, before falling to a low near $90. The return to par allows Strategy to issue shares through at-the-market (ATM) offerings tied to the product.

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The equity is branded as short-duration, high-yield credit. It currently pays an 11% annual dividend, distributed monthly in cash. The dividend rate is reset monthly to encourage trading around the $100 par value and to help reduce price volatility.

Since inception, STRC has risen 16% and offers an effective yield of roughly 11%. The annualized yield is calculated as the current dividend divided by the STRC share price.

MSTR raised the dividend rate on STRC to 11% at the start of the year, marking the fifth dividend increase since the product was introduced in July. The company's common stock is up 4% in pre market trading to $165, while STRC is up 0.03% at $100.

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