Track market-moving stories before they get noisy

Strategy CEO Phong Le purchased 11,000 shares of STRC preferred stock through a revocable trust in his name. (Brent Lewin/Bloomberg)

Strategy Stretch preferred stock—its key vehicle for funding Bitcoin purchases—has been in a tailspin. On the heels of a record low, insiders including the company’s chief executive are snapping up shares.

Investor Martin Shkreli, popularly known as "Pharma Bro," slammed Michael Saylor’s latest video on Monday promoting Strategy Inc.‘s (NASDAQ: MSTR) preferred stock offering.

The Video At The Center Of ControversyThe AI video shared on X showed a young woman who has retired and is living a luxurious life in a tropical paradise.

When asked how she got rich so quickly, the woman credited it to buying shares of Perpetual Stretch Preferred Stock (NASDAQ: STRC).

Saylor captioned the video with, “You weren't meant to live an uncomfortable life.”

Critics Say It’s ‘Nonsense’Shkreli took strong exception, going so far as to demand Saylor’s “arrest” for promoting unrealistic retirement security on a Bitcoin-backed asset.

Market analyst Adam Cochran also came down heavily, saying, “This is the exact kind of nonsense the SEC is supposed to exist to deter.

What You Need To Know About STRCThe stock currently pays 11.50% in annual dividends, payable monthly in cash, and has achieved a historical 30-day volatility of 2%.

Economist Peter Schiff previously raised doubts about how the company is funding its dividend payments amid ongoing losses in the bear market.

Strategy is sitting on unrealized losses of over $6 billion on its BTC holdings, while its market valuation was lower than the total value of its underlying holdings.

However, Anthony Scaramucci, founder and managing partner of SkyBridge Capital, called Strategy’s preferred stock an “iPhone moment” poised to spark widespread adoption of Bitcoin.

Price Action: At the time of writing, BTC was exchanging hands at $67,159.37, down 0.21% in the last 24 hours, according to data from Benzinga Pro.

Strategy shares were up 2.24% in overnight trading after closing 3.64% lower at $121.44 during Monday’s regular trading session.

The stock lacked strength across the short-, medium-, and long-term, earning a very low Momentum score in Benzinga’s Edge Stock Rankings.

Photo courtesy: Robert Deutsch-USA TODAY-Imagn Images.

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Strategy's STRC is a perpetual preferred stock with an 11.50% current yield, paid monthly. The preferred coupons are supported by USD reserves of $2.25 billion, which provide coverage for 21.8 months. MSTR recently issued around 10 million new STRC shares to fund the purchase of 13,900 BTC and can raise up to $21.6 billion using STRC.

Strategy's four perpetual preferred shares (STRF, STRK, STRD, STRC) represent a genuine pivot toward a "Bitcoin bank" model, finally justifying a long-term mNAV premium. Demand for the preferred suite has been exceptional — STRC alone was 5x oversubscribed, raising $2.5 billion, proving strong institutional appetite. Bitcoin and MSTR have both lagged the recent equity bull run, creating a rare asymmetric entry point relative to historical mNAV levels.

TYSONS CORNER, Va.--(BUSINESS WIRE)--Strategy Inc (Nasdaq: STRF/STRC/STRK/STRD/MSTR; LuxSE: STRE) (“Strategy”) today announced that, based on preliminary results, stockholders approved Proposal 5 at its 2026 Annual Meeting of Stockholders, held virtually on June 8, 2026, amending the terms of Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (“STRC”), to move from monthly to semi-monthly dividend record dates and dividend payment dates.

“We’re grateful to our shareholders for their strong support of this proposal. Moving STRC to a semi-monthly dividend cadence reflects our commitment to continuous innovation on behalf of our holders. Paying dividends on STRC twice a month is designed to stabilize price, dampen cyclicality, drive liquidity, and grow demand for STRC, while giving STRC holders faster reinvestment opportunity,” said Phong Le, President and Chief Executive Officer.

Proposal 5 received approval from holders of both Strategy’s common stock and STRC.

With stockholder approval now in hand, STRC’s new semi-monthly dividend cadence will begin at the end of this month. Record dates will fall on the 15th and the last day of each month, with payment dates on the subsequent record date. Subject to declaration by Strategy’s board, the first semi-monthly record date will be June 30, 2026, and the first semi-monthly payment date will be July 15, 2026. STRC’s last monthly record date will be June 15, 2026, and its last monthly payment date will be June 30.

About Strategy

Strategy Inc (Nasdaq: STRF/STRC/STRK/STRD/MSTR; LuxSE: STRE) is the world's first and largest Bitcoin Treasury Company. We pursue financial innovation strategies designed to generate value from our bitcoin holdings, including developing and issuing novel fixed-income instruments that provide investors varying degrees of economic exposure to bitcoin. In addition, we are an industry leader in AI-powered enterprise analytics software, advancing our vision of Intelligence Everywhere™. We believe our combination of active bitcoin-focused capital management and a scaled operating software business positions us for long-term value creation across both digital asset and enterprise analytics markets.

Strategy, MicroStrategy, and Intelligence Everywhere are either trademarks or registered trademarks of Strategy Inc in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.

Forward-Looking Statements

This press release may include statements that may constitute “forward-looking statements,” including estimates of future business prospects or financial results, including statements regarding the declaration of dividends for Strategy’s STRC Stock, and statements containing the words “believe,” “estimate,” “project,” “expect,” “will,” or similar expressions. Forward-looking statements inherently involve risks and uncertainties that could cause actual results of Strategy and its subsidiaries to differ materially from the forward-looking statements. Factors that could contribute to such differences include: fluctuations in the market price of bitcoin and any associated unrealized gains or losses on digital assets that Strategy may record in its financial statements as a result of a change in the market price of bitcoin from the value at which Strategy’s bitcoins are carried on its balance sheet; Strategy having sufficient surplus or net profits under Delaware law to permit the payment of dividends on STRC at the time of any proposed dividend declaration or payment; the availability of debt and equity financing on favorable terms; gains or losses on any sales of bitcoins; changes in the accounting treatment relating to Strategy’s bitcoin holdings; changes in securities laws or other laws or regulations, or the adoption of new laws or regulations, relating to bitcoin that adversely affect the price of bitcoin or Strategy’s ability to transact in or own bitcoin; the impact of the availability of spot exchange traded products and other investment vehicles for bitcoin and other digital assets; a decrease in liquidity in the markets in which bitcoin is traded; security breaches, cyberattacks, unauthorized access, loss of private keys, fraud or other circumstances or events that result in the loss of Strategy’s bitcoins; impacts to the price and rate of adoption of bitcoin associated with financial difficulties and bankruptcies of various participants in the digital asset industry; the level and terms of Strategy’s substantial indebtedness and its ability to service such debt; the extent and timing of market acceptance of Strategy’s new product offerings; continued acceptance of Strategy’s other products in the marketplace; Strategy’s ability to recognize revenue or deferred revenue through delivery of products or satisfactory performance of services; the timing of significant orders; delays in or the inability of Strategy to develop or ship new products; customers continuing to shift from a product license model to a cloud subscription model, which may delay Strategy’s ability to recognize revenue; changes in the market price of bitcoin as of period end and their effect on our deferred tax assets, related valuation allowance, and tax expense; other potentially adverse tax consequences; competitive factors; general economic conditions, including levels of inflation and interest rates; currency fluctuations; and other risks detailed in Strategy’s registration statements and periodic and current reports filed with the Securities and Exchange Commission (“SEC”). Strategy undertakes no obligation to update these forward-looking statements for revisions or changes after the date of this release.

Michael Saylor’s STRC stock has made headlines this week as its implosion gained momentum amid the ongoing crypto market weakness. The Variable Rate Series A Perpetual Stretch Preferred Stock plunged from the par level of $100 to a record low of $72.60. Sadly, it is not the only crypto-related preferred stock that is imploding this week.

The ongoing woes in the STRC stock price has spread to other similar assets. For example, the recently launched BitMine Immersion Technologies 9.5% Series A Perpetual Preferred Stock (BMNP) has slumped in all trading days. 

It ended the day at $81.40 from the monthly high of $92. This retreat is one of the top reasons why the BitMine stock price continued falling, reaching a low of $13. At its peak in 2025, the stock was trading at $160 as investors cheered its evolution from a Bitcoin mining company into an Ethereum accumulation one.

Meanwhile, Strive’s Variable Rate Series A Perpetual Preferred Stock (SATA) plunged to $83.53. Strive is an asset management company that was started by Vivek Ramaswamy, the healthcare billionaire. It is one of the top Bitcoin accumulation companies.

Other preferred stocks by Strategy have also imploded in the past few days. This includes stocks like STRK, STRD, and STRF. 

The ongoing retreat of preferred stocks is happening as the crypto market crash intensifies. Bitcoin dropped to $58,000 from a record high of $126,300, while Ethereum has slumped from nearly $5,000 to $1,500 today. 

The ongoing crypto market crash has led to billions of dollars in unrealized losses among these companies. Most of them have even seen their market net asset value (mNAV) drop below 1.

Therefore, there are concerns that the companies will need to raise cash to continue paying their dividends. Also, they may be forced to either pause or end their Bitcoin and Ethereum accumulation approach.

Strategy raised $300 million in cash last week by selling shares and diluting its shareholders. It now has $1.4 billion in cash, which is not enough to cover its dividend payouts for a year.

Strive has insisted that it has a two-year cover to pay its dividends, while BitMine has $601 million in cash and marketable securities and no debt. 

A major red flag in the industry happened a few months ago when Strategy changed its long-standing policy that it would never sell its Bitcoins. It made its first sale a few weeks ago, and this process may continue over time. If this happens, it will be selling at a loss s the average Bitcoin buying price was $68,000.

The hope among Tom Lee, Michael Saylor, and Ramaswamy is that the crypto market crash will end soon. Such a move will boost the value of their assets and boost confidence among investors.

The challenge, however, is that the crypto market is competing with stocks, which are in a prolonged bull run. As a result, investors have continued to dump crypto ETFs and rotating to stocks. For a crypto recovery to happen, a reversal in the stock market will need to happen.