MicroStrategy Wrote the Corporate Bitcoin Playbook Once: Can It Do It Again With STRC?

MicroStrategy has successfully utilized its STRC preferred stock to raise significant capital, funding a substantial portion of its Bitcoin purchases in March 2026. This strategy stands in contrast to many other Digital Asset Treasury (DAT) firms that have been forced to liquidate Bitcoin holdings due to suppressed prices and shrinking margins. The STRC instrument offers an attractive cumulative annual dividend of 11.5%, paid monthly and adjusted to maintain its par value, which has driven strong demand. While MicroStrategy aggressively buys Bitcoin, companies like MARA Holdings, Riot Platforms, and Core Scientific have sold BTC to manage debt or for other financial reasons. Binance Research suggests that if MicroStrategy's STRC model proves successful, it could be replicated across the sector, potentially offering DAT firms an alternative to selling Bitcoin reserves at low prices. However, concerns exist regarding the sustainability of aggressive STRC issuance and its impact on MicroStrategy's cash reserves during unfavorable market conditions.

(Source：BeInCrypto)