Every Zipp story tagged #PreferredStock, newest first.
Matt Hougan frames the preferred-stock reset as a late-cycle shakeout, with a fresh BTC bull run he expects to start this fall once forced sellers clear.
A 12% monthly dividend and a path back to par are Saylor's answer to a brutal week that exposed the cost of pausing BTC buys.
The ex-dividend date is mostly noise at under 0.7% of share price; the monthly rate reset, with effective yield already near 15%, is where investors are looking for signal on Strategy's capital stack.
The executive chairman reframes MicroStrategy's five outstanding preferred issues as a new asset class for public Bitcoin exposure, even as STRC and the rest trade below par.
The 90-day BTC correlation on the perpetual preferred has climbed to 0.70, the tightest reading since launch. STRC trades 24% below par and the company has begun selling BTC to cover dividends.
Saylor's STRC keeps shareholders funding MSTR's Bitcoin hoard via preferred dividends, while Bitplanet tries to grow its reserve through hashrate instead of spot buys.
Strategy sold 32 BTC in late May, its first since 2022, to fund preferred distributions. With annual dividends now tripling software revenue and cash covering under a year of obligations, the Bitcoin…
STRC fell as low as $82.53 against a $100 target and an 11.5% dividend, but the bond-to-UST framing ignores that the instrument is preferred equity, not a stablecoin, and has no peg to break.
The reiteration lands after STRC, Strategy's perpetual-preferred instrument, sold off hard enough that Benchmark had to publicly remind the market it is not a stablecoin.
JAN3's CEO argues the preferred stock's built-in yield adjustment and capital-gain incentive make the discount self-correcting, no issuer intervention required.
The intraday cascade in both preferreds looked like a solvency event, but Cole frames it as forced selling from leveraged holders — and credits strong intraday buying at the lows for the recovery.
Above $100, the instrument funds bitcoin buys; below it, the ATM goes quiet and the company defends the dividend instead — a structural signal on the cost of leverage in the Strategy flywheel.
The payoff cleaned up the capital stack but cut preferred-stock dividend runway by two-thirds — and a debt-free competitor paying daily dividends now sits next door as the cleaner trade.
The discount to par is the lead, not the dollar number: STRC was built to trade near $100, and the gap signals the market wants a richer payout before Saylor's preferred-stock funding channel reopens.
The preferred is supposed to trade at $100 — it just printed $85.32, and with $2.7B in dividends due over the next 12 months, the cost is now showing up on Bitcoin's chart through MSTR-dilution math…
The 11% discount to its $100 stated amount matters more than the price tag — the dividend was designed to defend that level, and it's now visibly failing to.
The soft-peg test: STRC's slide below $92 reveals that without an automatic price floor, Strategy must choose between paying investors more, restructuring the dividend, or watching its…
STRC is a 12.9% variable-rate preferred built to hold $100 par. The drop below $90 forces Strategy to pause its at-the-market share issuance — and amplifies the 'death spiral' debate around the…
Bitmine is moving ahead with a STRC-style preferred stock offering even as the company sits on an estimated $9.2…
The Ethereum-treasury play borrows Michael Saylor's preferred-equity playbook just as Strategy's own STRC slips below par, testing whether the funding template survives a 4.5% ETH position sitting on…
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