Castle Opens Platform to Individuals With Dividend-to-Bitcoin Conversion
The change lets customers automate conversion of cash dividends into Bitcoin so yield from Strategy’s STRC preferred shares can flow directly into crypto holdings.
Overview
- Castle, which announced the change Tuesday, expanded its business-only service to personal accounts and added a setting that converts a user-chosen share of each STRC dividend into Bitcoin automatically.
- The dividend source is Strategy’s STRC perpetual preferred stock, which carries a variable annualized rate reported at 12% for September 2026 record dates and pays semi-monthly when declared by the issuer’s board.
- Strategy pays STRC dividends in cash and Castle performs the post-payment Bitcoin purchases on users’ behalf according to each account’s percentage allocation.
- Castle has not disclosed several practical details that matter to individuals, including account minimums, trading fees, the exact conversion price or timing, total users or assets under management, and how it will report conversions for U.S. tax purposes.
- The product consolidates operating cash, a yield-bearing preferred security, and automated Bitcoin accumulation in one workflow, which could simplify balances for users but also exposes them to both STRC credit and Bitcoin market risks and creates new tax-recordkeeping needs.