Michael Saylor, executive chairman of Strategy (MSTR), said the largest public traded holder of bitcoin
Strategy describes Stretch (STRC) as a short-duration, high-yield savings account. The increase is the sixth since STRC first traded in July 2025.
STRC is a perpetual preferred stock that pays monthly cash distributions, with the dividend rate set each month to encourage trading near its $100 par value and to limit price volatility. STRC closed at $98.99 on Friday, slightly below par.
Strategy has raised $2.25 billion in reserves to fund dividend obligations on its perpetual preferred offerings, which total approximately $887 million annually, according to the company’s dashboard.
The announcement on X comes after bitcoin slid below $76,000 on Saturday, briefly pushing Strategy’s average bitcoin cost basis underwater. The largest cryptocurrency has since rebounded and was recently trading near $78,000.