Anchorage Digital adds STRC as Strategy becomes Wall Street’s most-shorted stock while expanding its Bitcoin-focused treasury model.
Anchorage Digital has added Strategy’s perpetual preferred security STRC to its balance sheet at a time when the company has become one of Wall Street’s most-shorted stocks.
The move arrives as Strategy continues expanding its Bitcoin-focused treasury model, while institutional traders increase bearish positions against the firm.
Anchorage Confirms STRC Purchase and Signals Alignment
It confirmed that it now holds STRC, a Nasdaq-listed perpetual preferred security issued by Strategy.
Anchorage co-founder and CEO Nathan McCauley shared the update in a post on X, stating that both firms are structured around long-term Bitcoin infrastructure and treasury adoption.
He noted that “institutions don’t just talk about Bitcoin, they structure around it,” adding that the purchase reflects alignment between the two companies.
STRC offers an 11.25% annual dividend paid monthly, and the capital raised from the instrument has funded the firm’s continued Bitcoin purchases.
Anchorage did not provide details on the size or timing of the acquisition but emphasized that the decision represents support for corporate Bitcoin strategies.
The company said it views the partnership as a long-term commitment to digital asset infrastructure.
Strategy continues to issue securities to expand its Bitcoin reserves, which remain the core of its corporate model.
The firm recently announced an additional purchase of 592 Bitcoin valued at $39.8 million. These acquisitions follow a series of similar moves aimed at growing its treasury holdings.
Strategy Becomes Wall Street’s Most-Shorted Large-Cap Stock
Strategy has now become the most-shorted large-cap U.S. stock by short interest as a share of market capitalization, according to data from Goldman Sachs.
A year earlier, the company was not ranked among the top 50, yet it climbed the list through late 2025 as its share price weakened ahead of Bitcoin’s peak in October.
Short sellers borrow shares and sell them with the aim of buying them back at lower prices.
The activity increases pressure on the stock, especially when the underlying asset shows volatility.
Strategy’s exposure to Bitcoin and its leveraged structure contribute to its trading movement during market swings.
The company holds 717,722 Bitcoin valued at about $46.68 billion.
With an average acquisition cost of about $76,020 per coin, Strategy is currently carrying an estimated $7 billion unrealized loss while Bitcoin trades near $66,000.
Despite the downturn, the firm maintains its strategy of long-term accumulation.
Related Reading: MicroStrategy Becomes Wall Street’s Most Shorted Stock at $4.8B
Debt-to-Equity Shift and Long-Term Treasury Strategy
Strategy founder Michael Saylor said the company plans to convert about $6 billion in convertible bond debt into equity.
This adjustment would transfer repayment obligations to newly issued shares and reduce leverage on the balance sheet.
The shift would also restructure financing as the company continues expanding its Bitcoin reserves.
The firm also stated that its holdings could withstand a severe market downturn.
According to internal estimates, Bitcoin would need to fall near $8,000 for the firm’s assets and liabilities to meet.
Strategy said the current treasury structure remains positioned for long-term operations under various market conditions.
Institutions continue monitoring Strategy’s next steps as Anchorage Digital becomes the latest entity to add STRC to its portfolio while short interest surrounding the company increases.
Source: https://www.livebitcoinnews.com/institutions-double-down-anchorage-adds-strc-as-btc-strategy-expands/
