We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services.
Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
_cfuvidThis cookie is a part of the services provided by Cloudflare - Including load-balancing, deliverance of website content and serving DNS connection for website operators.
Maximum Storage Duration: SessionType: HTTP Cookie
__cf_bm [x7]This cookie is used to distinguish between humans and bots. This is beneficial for the website, in order to make valid reports on the use of their website.
CookieConsentStores the user's cookie consent state for the current domain
Maximum Storage Duration: 1 yearType: HTTP Cookie
Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.
We do not use cookies of this type.
Statistic cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
We do not use cookies of this type.
Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.
We do not use cookies of this type.
Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.
List of domains your consent applies to: [#BULK_CONSENT_DOMAINS#]
Cookie declaration last updated on 8/12/26 by Cookiebot
[#IABV2_TITLE#]
[#IABV2_BODY_INTRO#]
[#IABV2_BODY_LEGITIMATE_INTEREST_INTRO#]
[#IABV2_BODY_PREFERENCE_INTRO#]
[#IABV2_BODY_PURPOSES_INTRO#]
[#IABV2_BODY_PURPOSES#]
[#IABV2_BODY_FEATURES_INTRO#]
[#IABV2_BODY_FEATURES#]
[#IABV2_BODY_PARTNERS_INTRO#]
[#IABV2_BODY_PARTNERS#]
About
Cookies are small text files that can be used by websites to make a user's experience more efficient.
The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission.
This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
You can at any time change or withdraw your consent from the Cookie Declaration on our website.
Learn more about who we are, how you can contact us and how we process personal data in our Privacy Policy.
Please state your consent ID and date when you contact us regarding your consent.
Install NewsLayer
Get the app experience — one tap from your home screen, instant loads and breaking-news alerts.
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%.
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.
Critics question how long the company can carry that payout load. Arca Chief Investment Officer Jeff Dorman warned in May that a $15 billion preferred stack strains the Bitcoin flywheel.
The Number Missing From Saylor’s Chart
The graphic leaves out MSTR, Strategy’s common stock. That omission matters. MSTR closed at $93.04 on August 14, roughly 75% below its level a year earlier, according to Yahoo Finance data.
Strategy Inc (MSTR) Stock Chart. Source: Yahoo
The stock touched $367.57 at its 52-week high. Today it changes hands near the floor of that range. Common shareholders absorbed the leverage, while preferred holders collected the income.
In contrast, Bitcoin’s current price sat near $63,072 on Sunday, still deep inside a bear market that began last autumn.
Strategy has also flipped into a net seller. The company added 37 Bitcoin across two months, then sold 1,638 coins in a single week. Meanwhile, its treasury now sits at a lower level than it did in May.
Saylor addressed the credit risk head-on last week. His new model publishes floor prices for creditors, naming the Bitcoin levels where each security breaks.
The engineering worked as advertised for over 12 months. It turned one volatile asset into four calmer income streams. Whether those streams hold through a second year of falling Bitcoin prices is the question facing holders now.
