Proposed STRC upgrade seen as shared upside lever for Strategy and Strive shareholders: TD Cowen
The Block
TD Cowen analysts suggest that Strategy's proposed STRC dividend changes will benefit both Strategy and Strive shareholders by improving capital efficiency and bitcoin accumulation.Summary
TD Cowen analysts report that Strategy’s proposal to transition STRC preferred share dividends to a semi-monthly schedule creates a self-funded instrument that enhances liquidity and price stability. By reducing reinvestment lag, this move allows for more efficient capital deployment toward bitcoin accumulation. Furthermore, TD Cowen views this development as a positive catalyst for Strive, noting that both companies utilize similar treasury models. The firm maintains a buy rating on Strive, citing potential for increased net asset value premiums and higher bitcoin yields resulting from this strategic synergy.
(Source：The Block)