MicroStrategy Preferred Stock Outperforms Bitcoin in 1-Year Comparison

Michael Saylor published a one-year performance chart on Sunday showing that Strategy Preferred Stock outpaced Bitcoin. STRC gained 9% while Bitcoin (BTC) fell 47%.

The comparison runs from August 14, 2025, through August 14, 2026. It measures four Strategy credit instruments against the single asset backing the entire company.

Why Strategy Preferred Stock Held Up Better Than Bitcoin

Strategy issues four preferred securities, each of which pays income rather than tracking Bitcoin directly. STRC, formally the Variable Rate Series A Perpetual Stretch Preferred Stock, currently pays 12% annually in twice-monthly cash dividends.

The company moves that rate up or down to hold STRC near its $100 par value. However, the security slipped under par this summer. Therefore, Strategy sold 1,690 Bitcoin in August to fund STRC share buybacks.

The other three instruments lagged STRC. STRD fell 8%, STRF lost 9%, and STRK dropped 27%. Still, every one of them beat Bitcoin by a wide margin. Cash dividends and distributions cushioned part of each decline.

STRK explains that spread. Each share converts into 0.1 shares of MSTR, so it tracks the common stock more closely than the others do. None of the four carry a claim on Strategy’s Bitcoin.