STRC Preferred Stock Rockets Toward $90 as MSTR Sinks

Strategy Inc's Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) has been on a tear, climbing toward its $90 IPO price. This comes as MicroStrategy common shares (MSTR) have fallen over 7% intraday.

The STRC preferred stock was issued in July 2025, raising approximately $2.521 billion in gross proceeds with net proceeds landing around $2.474 billion. Strategy used these funds to buy 21,021 Bitcoin at an average price of approximately $117,256 per coin.

STRC pays an annualized dividend rate of 12%, variable and adjusted monthly by the board. The target par value sits at $100, meaning buyers are getting the stock at a discount while collecting a double-digit yield.