Market Update: Strategy’s STRC Emerges as Most Preferred Liquid Stock, According to Saylor

(STRC), the preferred stock of market intelligence company Strategy (MSTR), formerly known as MicroStrategy, has become the most liquid preferred stock this month. Michael Saylor, the executive chairman of Strategy, announced this milestone via an X post.

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The announcement emphasizes growing institutional demand for STRC, which is backed by the company’s Bitcoin treasury and offers a current 11.50% annualized dividend paid monthly in cash.

Saylor Highlights STRC Liquidity Surge

STRC recorded an average daily trading volume of $296 million, surpassing other preferred stocks, including Boeing (BA) at $35.8 million, KKR & Co (KKR) at $33.5 million, and Shift4 Payments (FOUR) at $27.6 million. It also outperformed Strategy’s other preferred equities, including STRK ($18.8 million), STRF ($14.5 million), and STRD ($14.4 million). 

STRC offers a current dividend rate of 11.50%, payable monthly in cash, with the rate adjusted to maintain trading near its $100 par value. Recently, the stock traded at $99.75, with a daily volume of $298 million. 

Over the 10 days through March 11, it closed at or above $100 while volume increased more than fivefold. Several institutional investors have allocated capital to STRC, citing its yield and liquidity. This includes Strive (ASST), which committed $50 million, which is more than one-third of its treasury, as well as Prevalon Energy, Anchorage Digital, and OranjeBTC.

STRC Drives Strategy’s Bitcoin Accumulation

STRC is a key part of Strategy’s Bitcoin accumulation flywheel, in which proceeds from preferred stock sales fund Bitcoin ($BTC-USD) purchases. The company recently acquired 17,994 BTC for $1.28 billion, with support from such issuances. 

STRC’s high liquidity and yield appeal to investors seeking stable, high-return exposure tied to Bitcoin holdings without direct cryptocurrency volatility. This positions STRC as a preferred instrument for institutional allocation over lower-yielding cash reserves.

Is STRC a Good Investment?

Currently trading near $100, STRC offers an 11.5% variable annual dividend, adjusted to keep the share price near its $100 par value, which helps limit volatility. This yield is far higher than the risk-free rate of around 3.7%, and some analyses point to strong risk-adjusted returns.

However, dividends aren’t guaranteed. The perpetual structure also exposes investors to credit risk tied to Strategy’s Bitcoin holdings and capital-raising ability, and the stock lacks protections like FDIC insurance, making it less suitable for conservative investors.

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