MSTR treasury companies emerge on STRC success

A new category of crypto treasury companies is emerging, centered around Strategy's high-yield preferred stock (STRC). These firms and decentralized finance protocols are accumulating STRC to gain indirect exposure to Bitcoin and earn an annualized dividend of 11.5%. STRC, issued by Strategy (a major Bitcoin holder), serves as a funding vehicle for its Bitcoin accumulation strategy. The stock has seen significant trading volume, with over $1.6 billion in shares traded recently. Companies like Saturn Credit and Apyx are building substantial positions in STRC, and tokenized versions are actively traded on platforms like Pendle. Recently, STRC briefly traded below its $100 par value after going ex-dividend, which temporarily halted new share sales through Strategy's ATM program.

(Source：CoinDesk)