Bitcoin Treasury Stocks Slide as Strategy Pushes Daily Dividends

Bitcoin treasury stocks MSTR and ASST declined in midday trading Friday, tracking Bitcoin's price lower. The slide came as Strategy Chairman Michael Saylor pushed for daily dividends on the company's preferred securities.

Saylor argued that the proposed changes would support 'price stability, liquidity, and demand' for Strategy's preferred securities. He claimed that the changes are intended to make its preferred stocks easier to trade and more responsive to market demand.

Strategy has previously challenged MSCI's proposal to exclude companies with a high proportion of 'non-operating' assets from its indexes. The company argued that MSCI's classification framework is undefined and lacks a basis in U.S. GAAP or IFRS.

Strive CEO Matt Cole pushed back on the MSCI framework, stating that Bitcoin-based structured finance should be treated as an operating business rather than passive asset ownership.