Data checked
2026-06-21
Treasury data is a dated snapshot. Prices and NAV move intraday.
Treasury ProductPreferred StockSTRCNasdaq Global Select Market
Strategy Stretch Preferred Stock
Nasdaq-listed variable-rate preferred stock backed by the largest public bitcoin treasury issuer.
7.4/10Overall score = 9.9*30% + 7.5*15% + 2.5*15% + 8.5*15% + 9.0*10% + 7.0*10% + 1.5*5% = 7.4. NAV is the $100 stated amount/liquidation preference, not a direct claim on Strategy bitcoin.
Key Metrics
NAV Premium / Discount
-0.72%
Market: $99.28 vs NAV: $100.00
BTC per Share
₿0.01332
₿846,842 total BTC held
Market Price
$99.28
Nasdaq Global Select Market
Daily Volume
$267.3M
daily listed
Shares Outstanding
63,578,000
Dilution: increasing
Management Fee
None
Performance Fee
None
Inception Date
2025-07-29
STRC began trading in late July 2025, so the security has roughly eleven months of public trading history as of June 2026.
Score Breakdown
Methodology: Overall score = 9.9*30% + 7.5*15% + 2.5*15% + 8.5*15% + 9.0*10% + 7.0*10% + 1.5*5% = 7.4. NAV is the $100 stated amount/liquidation preference, not a direct claim on Strategy bitcoin.
View full scoring methodology →Dilution & Share Structure
increasing63,578,000 shares outstanding
Shares outstanding is estimated from Strategy-reported STRC notional value of about $6.3578 billion divided by the $100 stated amount and may understate current count given continued ATM issuance. Strategy also disclosed large STRC ATM issuance capacity, including a $21 billion STRC ATM annex in March 2026.
Fee Structure
Management Fee
None
Performance Fee
None
No management or performance fee is charged to holders. Economics are driven by variable cash dividends, issuer credit risk, preferred-stock terms, and market price versus the $100 stated amount/liquidation preference.
Governance & Disclosure
Reporting Tier
SEC Reporting
Disclosure Frequency
SEC current reports plus Strategy dashboard updates
Audit Firm
Deloitte & Touche LLP
Liquidity Tier
daily listed
Highlights
- +Monthly variable cash dividend held at 11.50% since June 1, 2026.
- +Issuer Strategy held 846,842 BTC as of June 15, 2026.
- +Designed by Strategy to trade near its $100 stated amount, with daily Nasdaq liquidity.
Considerations
- !Preferred holders do not own a direct pro-rata claim on bitcoin.
- !Large ATM programs can materially increase preferred share count.
- !Dividend payments depend on board declaration and issuer credit quality.
Best for
Investors comparing bitcoin-treasury-linked credit instruments that prioritize listed liquidity and current income over direct bitcoin ownership.
Evidence
Why trust this view
Verification
Sources
4 cited
Each data point is traced back to a named source listed below.
How we score
Treasury methodology
Open the scoring rules before relying on a ranking.
Boundary
Not investment advice
Pledge provides comparison data for educational purposes only.
Sources
verifiedOfficial
Strategy STRC product page
Official product page identifies STRC as Strategy perpetual preferred stock, current 11.50% annual dividend, $6.3578 billion notional value, monthly cash dividends, and Nasdaq listing.
https://www.strategy.com/strc/learn ↗verifiedOfficial
Strategy STRC IPO pricing release
IPO terms: 28,011,111 shares at $90, initial 9.00% variable dividend, $100 stated amount, and intended use of proceeds including bitcoin acquisition.
https://www.strategy.com/press/strategy-announces-pricing-of-strc-perpetual-preferred-stock_07-25-2025 ↗verifiedResearch
Strategy June 16, 2026 bitcoin acquisition update
Reports Strategy acquired 1,587 BTC for $100 million (June 8-14, 2026) at an average price of $63,024, bringing aggregate holdings to 846,842 BTC as of June 15, 2026.
https://bitcoinmagazine.com/news/strategy-spends-100-million-1587-bitcoin ↗partialMarket Data
Yahoo Finance STRC quote
Market quote snapshot used for STRC price and volume cross-check; market data was delayed and therefore treated as partial.
https://finance.yahoo.com/quote/STRC/ ↗Notes
Ticker correction: STRC is Strategy Inc. Stretch preferred stock, not a Strike product. BTC-per-share is issuer BTC divided by estimated STRC preferred shares and is included only as a reference metric; STRC does not provide direct bitcoin ownership. Not investment advice.
Not investment advice. Pledge provides comparison data for educational purposes only. This snapshot was checked 2026-06-21. Past performance does not guarantee future results.
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NAV estimates. NAV per share calculations use a reference BTC price and may not reflect all corporate assets, liabilities, debt, taxes, or operating costs.
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