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Score verified Jun 18, 2026 · market cap as of May 21, 2026·Strategy STRK review · 4 source documents read · Dividend-backedIndependent. No commercial relationship with Strategy STRK.No commercial relationships.
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Strategy STRK
Type · Dividend-backed·Bucket · Bitcoin-linked dividend-backed·Chain · Nasdaq / public securities markets
Dividend-backedConvertible perpetual preferred stockYield-bearing optionNasdaq / public securities markets
EDITOR'S VERDICT
STRK is a listed Strategy preferred security, not a stablecoin or a redeemable Bitcoin product.
7.4
Pledge risk score
$1.0B
Market cap
Yield-bearing option
Yield treatment
Dividend-backed
Subtype
QUICK READ
BEST FOR
+Readers trying to understand the public-market credit instruments behind the Digital Credit thesis.
+Users comparing direct listed preferred exposure with tokenized wrappers built on similar credit streams.
+Investors who know this is a security with issuer, market, and tax risk rather than a cash stablecoin.
PAUSE IF
−You want redeemable onchain dollars rather than brokerage-traded preferred shares.
−You are not comfortable underwriting Strategy issuer risk and preferred-stock terms.
−You are assuming Strategy preferreds are collateralized directly by Bitcoin holdings.
AT A GLANCE
TickerSTRK
SubtypeDividend-backed
BucketBitcoin-linked dividend-backed
ChainNasdaq / public securities markets
ModelConvertible perpetual preferred stock
Yield treatmentYield-bearing option
Base assetSTRK
Market cap$1.0B (as of 2026-05-21)
Overall score7.4 / 10
Last verified2026-06-18
LIVE SNAPSHOT · STRK
What the numbers actually mean.
Updated May 24, 2026
↗ Strategy STRK dashboard
↗ Strategy STRK dashboard
What you earn
10.84%
Current dividend 8.00% · fixed · +7.17% over risk-free
Effective yield is the dividend stream priced against current market price. The ~7.2% spread over the 3.7% risk-free rate is what you're paid for taking Strategy issuer risk + preferred-stack risk.
How stable a place to park
18.0%
30-day vol · 1-year 36.0%
Higher-volatility window in the last 30 days. Cross-reference with the 1-year figure before treating this as a stable dollar-equivalent.
What it trades at
$73.78
trading below par
Discount to $100 par means the market is pricing some risk (issuer, dividend cut, market-rate move). The discount widens your effective yield.
How Bitcoin-y the exposure is
75%
BTC correlation · MSTR 74% · SPY 47%
Tight correlation with Bitcoin — most of the price action comes from BTC moves. Behaves closer to a leveraged Bitcoin wrapper than a stable dividend product.
Next dividend hits Jun 30, 2026 · record date Jun 15, 2026. Hold through the record date to receive it.
Numbers manually transcribed from the issuer dashboard. Future: auto-refresh pipeline.
STRK · SENSITIVITY
What if I parked dollars in STRK?
Same money. Three years. Model your own scenario — yield rate, holding period, tax treatment — and see the dividend outcome vs a yield-free dollar stablecoin baseline. An educational projection, not advice.
Amount parked$10k
Holding period3 yrs
Dividend yield10.84%
Educational projection only — not investment or tax advice. Assumes no dividend cut, no price change, no reinvestment. Federal-only tax. STRK is a security, not a stablecoin — see the profile for full risk disclosure.
♦ Yield wins
Park in STRK
$10,000 at 10.84% for 3 years
Principal$10,000Gross dividends × 3yr+$3,252Tax during hold$0 (deferred)
Net after 3 years$13,252Dividend income kept$3,252
$1 Stablecoin Baseline
$10,000 held in USDC, USDT, or similar
Principal$10,000Yield0%Dividends earned$0
Net after 3 years$10,000Opportunity cost−$3,252
The dividend delta
STRK earns $3,252 over 3 years — the price you pay for STRK issuer risk vs $1 stablecoin counterparty risk.
WHERE STRK HOLDERS SIT
The claim ladder.
If Strategy were to face insolvency, who gets paid in what order. STRK is preferred equity — it ranks behind all of Strategy's debt and ahead of common stock, with no lien on the BTC. The Bitcoin backs the stack only indirectly, through Strategy staying solvent — it is not collateral pledged to STRK.
1
Strategy debt
Convertible senior notes
Unsecured, but ranks ahead of ALL equity — every preferred and common. Paid first.
2
Preferred — STRF
Senior-most preferred
Top of the preferred stack. Paid before STRC and the junior preferreds.
3
Preferred — STRC
Variable-rate perpetual
#2 in the preferred waterfall — junior to STRF, senior to STRE / STRK / STRD.
4
Preferred — STRE / STRK / STRD
You are here
Junior preferreds
Paid only after STRF and STRC are made whole.
5
Common shareholders
MSTR stockholders
Last in line. Whatever is left after all debt and preferreds.
Risk angle. Issuer credit plus an embedded, holder-optional MSTR equity-conversion option — a fixed 0.1000 conversion rate (≈$1,000 conversion price on the $100 stated amount) per its Certificate of Designation — so its price carries equity-like volatility and is not a low-volatility dollar product.
VS THE ALTERNATIVES
Compare all 14 products →STRK vs the other dollar products.
WHY WE TRACK STRK
The research angle.
Strategy preferreds are public-market examples used to understand Digital Credit-style claims. Products like Apyx and Saturn may reference or build around similar credit streams, but each wrapper still needs its own source review.
Subtype
Dividend-backed
Bucket
Bitcoin-linked dividend-backed
Chains
Nasdaq / public securities markets
Backing
Strategy describes STRK as one of its preferred equity instruments. It should be read through issuer credit, preferred-stock terms, dividend policy, USD reserve coverage, and Strategy's broader Bitcoin treasury strategy rather than through token-reserve mechanics.
Peg mechanism
STRK is not a dollar stablecoin. Any price stability or volatility profile comes from the preferred-stock structure, market liquidity, dividend mechanics, and issuer behavior, not from a token redemption peg.
Yield
STRK offers an 8.00% fixed annual dividend dividends with quarterly cash dividend payment framing in Strategy materials. Dividends and market yield are not the same thing, and users should verify current terms, tax treatment, and price before relying on headline yield.
Redemption
Exit is through public securities-market liquidity, not onchain redemption. Brokerage access, bid/ask spread, trading volume, tax treatment, and issuer-credit stress matter more than smart-contract redemption mechanics.
SAFETY METHODOLOGY · v3.2 · DIGITAL MONEY-ADAPTED
The 8-factor breakdown.
7.4/10
Weighted overall risk score
01 · weight 18%7/10
Backing source
Strategy describes STRK as one of its preferred equity instruments. It should be
Strategy describes STRK as one of its preferred equity instruments. It should be read through issuer credit, preferred-stock terms, dividend policy, USD reserve coverage, and Strategy's broader Bitcoin treasury strategy rather than through token-reserve mechanics.
02 · weight 14%7.5/10
Mint / redemption path
Exit is through public securities-market liquidity, not onchain redemption. Brok
Exit is through public securities-market liquidity, not onchain redemption. Brokerage access, bid/ask spread, trading volume, tax treatment, and issuer-credit stress matter more than smart-contract redemption mechanics.
03 · weight 13%5.8/10
Peg design
STRK is not a dollar stablecoin. Any price stability or volatility profile comes
STRK is not a dollar stablecoin. Any price stability or volatility profile comes from the preferred-stock structure, market liquidity, dividend mechanics, and issuer behavior, not from a token redemption peg.
04 · weight 13%7.8/10
Yield source
Yield-bearing option
STRK offers an 8.00% fixed annual dividend dividends with quarterly cash dividend payment framing in Strategy materials. Dividends and market yield are not the same thing, and users should verify current terms, tax treatment, and price before relying on headline yield.
05 · weight 12%7.1/10
Liquidity / exit depth
Brokerage-traded Nasdaq preferred with common-equity conversion exposure.
Overall score = 7.40 under the Bitcoin-holder Digital Credit standard. STRK scores well on public Strategy disclosure, listed-market exit, and legible dividend terms, but loses points because Strategy preferreds are issuer credit with a residual corporate claim, not collateralized claims on Strategy's bitcoin holdings.
06 · weight 11%9/10
Smart contract / bridge
Convertible perpetual preferred stock
Overall score = 7.40 under the Bitcoin-holder Digital Credit standard. STRK scores well on public Strategy disclosure, listed-market exit, and legible dividend terms, but loses points because Strategy preferreds are issuer credit with a residual corporate claim, not collateralized claims on Strategy's bitcoin holdings.
07 · weight 10%8.4/10
Governance / counterparty
Governance & counterparty risk
Overall score = 7.40 under the Bitcoin-holder Digital Credit standard. STRK scores well on public Strategy disclosure, listed-market exit, and legible dividend terms, but loses points because Strategy preferreds are issuer credit with a residual corporate claim, not collateralized claims on Strategy's bitcoin holdings.
08 · weight 9%8.5/10
Transparency / proof
Disclosure & attestation
Overall score = 7.40 under the Bitcoin-holder Digital Credit standard. STRK scores well on public Strategy disclosure, listed-market exit, and legible dividend terms, but loses points because Strategy preferreds are issuer credit with a residual corporate claim, not collateralized claims on Strategy's bitcoin holdings.
Review statusMethodology v3.2 · stablecoin-adapted. Last full review 2026-06-18. Continuous peg monitoring. Found a factual error? bitcoinanalytica@gmail.comRead methodology v3.2 ↗