Saylor Crowns STRC the World's Largest Preferred Stock at $8.5B AUM — With a 64% Dividend Yield!

At Consensus 2026 Miami on May 6, Michael Saylor declared that Stretch (STRC) has become the world's largest and most liquid preferred stock, citing $8.5 billion in assets under management. The announcement positions STRC as a landmark instrument in the evolving intersection of Bitcoin-native finance and traditional credit markets.

Saylor's headline number was the dividend yield: 64%, earned by STRC credit investors over a period in which Bitcoin itself dropped 37%. The contrast is deliberate — it frames STRC as a capital-preservation play that still captures outsized yield from the Bitcoin ecosystem without direct spot exposure.

For institutional allocators sitting on the sidelines of direct BTC exposure, the pitch is clear: par-held principal, equity-like yield, and the liquidity profile of the largest preferred instrument on the market.