Strategy’s STRC Nears $100 as Bitcoin Funding Route Comes Back Into View

In Brief:

• Strategy’s STRC preferred stock nears $100, potentially reopening share sales through a program with $17.5 billion in remaining issuance capacity.
• STRC recovered approximately 40% from its June low, reaching $99.41 as Strategy maintains a variable annualized dividend rate of 12%.
• Strategy previously used STRC proceeds to purchase 21,021 Bitcoin, but reaching $100 would not automatically trigger additional cryptocurrency treasury acquisitions.

 

Strategy’s STRC preferred stock is approaching $100, a level that could support renewed fundraising for the company’s Bitcoin purchases. Shares closed at $99.41 on October 2, leaving the stock 59 cents below Strategy’s preferred threshold for additional issuance.

According to Strategy’s stated policy, the company has no current intention of selling new STRC shares below $100. Instead, Strategy has repurchased shares while STRC traded below that level, maintaining its approach to the preferred stock’s pricing.

Reclaiming $100 could allow Strategy to resume sales through its at-the-market program without issuing additional MSTR common shares. The program had approximately $17.5 billion in remaining capacity as of October 4, providing room for fundraising.

Strategy can use proceeds for general corporate purposes, including Bitcoin acquisitions, although available issuance capacity does not represent existing cash. STRC carries a variable annualized dividend rate of 12%, calculated against its $100 stated amount rather than its trading price. Strategy can adjust the dividend rate, while changes in the stock’s market price also affect the yield investors receive.

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STRC Recovery Revives a Previously Used Bitcoin Financing Channel

STRC traded near $100 in May before selling pressure pushed shares from above $95 toward lower levels during June. On June 26, the stock reached an intraday low of $71.25 before recovering into the mid-$80s and consolidating during July.

Shares moved above $90 in early August, then recorded higher highs and higher lows through August and September. STRC reached $98.51 on September 18 and advanced to $99.56 on September 29, bringing the issuance threshold within reach.

Its October 2 closing price represented an approximately 40% recovery from the June low, despite remaining below $100. The preferred stock previously financed a major Bitcoin acquisition through Strategy’s offering, which raised approximately $2.47 billion in July 2025.

Strategy used the proceeds to acquire 21,021 Bitcoin for approximately $2.46 billion, demonstrating STRC’s established role in treasury funding. Reaching $100 would not automatically trigger another acquisition, since Strategy must first sell shares and decide how to allocate proceeds.

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