Overview
- This week STRC fell to record and near‑record lows in the low $80s–$90s, which has led Strategy to pause its at‑the‑market issuance program that it uses to raise cash for Bitcoin purchases.
- In late May Strategy sold 32 BTC for about $2.5 million to cover STRC dividends, and the company says it has built a dedicated U.S. dollar reserve of roughly $1.1 billion after repaying part of its convertible debt.
- STRC now trades well below its $100 par, implying market yields around 12.6%–12.9% and signaling investors want higher compensation or clearer liquidity for the cash dividends STRC pays.
- Rival Strive’s SATA is trading near par while offering a higher effective yield and daily payouts, which has pulled investor demand away from STRC and widened the discount gap.
- Options flows have tilted toward puts and notable insider sales have weighed on Strategy’s common stock, and analysts say the company may raise STRC’s dividend or rebuild cash buffers—moves that would raise short‑term cash costs and could slow Bitcoin accumulation.