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Strategy's STRC Perpetual Preferred Stock Falls to $97.11, Cash Covers Only 6 Months of Dividends

GateNews

2026-05-29 09:31:14

BTC-0.51%

According to CoinDesk, Strategy's perpetual preferred stock STRC fell to a low of $97.11 on Thursday, unable to hold its $100 par value, before recovering to $98.57. The decline was driven by Bitcoin's pullback to around $73,000 and ex-dividend effects. The company's recent $1.5 billion buyback of 2029-maturity zero-coupon convertible bonds caused cash reserves to plummet from $2.25 billion to $871 million. With annual preferred dividend obligations of approximately $1.7 billion, current cash reserves now cover only about 6 months of payments, down sharply from the previously targeted 24-month coverage ratio.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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