What is STRC (Stretch Preferred)?

STRC — ticker STRC, "Stretch Preferred" — is a perpetual preferred stock issued by Strategy (formerly MicroStrategy). It carries a $100 par value and a variable dividend rate, currently 12.00% per annum, that Strategy adjusts at its discretion.

How STRC raises money for Bitcoin

Strategy sells new STRC shares through an at-the-market (ATM) offering — issuing shares directly into the open market at prevailing prices whenever STRC trades at or above its $100 par. The proceeds, net of a ~2.5% agent fee, are deployed into Bitcoin for the company's treasury and, since mid-2026, into a USD cash reserve that backs its dividend obligations. Each week's activity is disclosed in an SEC 8-K filing on EDGAR.

The dividend: variable rate, semi-monthly

Unlike Strategy's fixed-rate preferreds, STRC's rate floats — Strategy evaluates it monthly and has moved it over time (it rose from 11.50% to 12.00% effective July 1, 2026). Since that date, STRC pays on a semi-monthly cadence: two record dates per month (the 15th and the last day). Because the dividend is paid on the $100 par rather than the market price, a buyer purchasing below par earns an effective yield higher than the stated rate (stated × par ÷ price).

STRC vs. Strategy's other preferreds

STRC is one of Strategy's "Digital Credit" preferred instruments, alongside STRF (Strife), STRK (Strike), and STRD (Stride). STRC is the variable-rate member of the family; the others carry fixed rates. Full terms for each are in their respective SEC prospectuses.

Track it live

The STRC Tracker dashboard shows the live STRC price, dividend and effective yield, ATM volume, and the weekly Bitcoin accumulation it funds — every weekly total reconciled against Strategy's SEC 8-K filings. See how the estimates are calculated.