Asset management giants BlackRock, VanEck, and Virtus InfraCap jointly invested $756 million into Strategy’s STRC preferred stock, making it the largest holding among the three main U.S. preferred stock exchange-traded funds (ETFs): BlackRock’s PFF, Virtus InfraCap’s PFFA, and VanEck’s PFXF. This significant allocation exposes millions of investors to Strategy’s credit products, suggesting that the market is beginning to view the company as a reliable issuer of fixed-income securities despite its close ties to Bitcoin. However, at press time, STRC was trading at $86.88, below the critical $100 level, and CEO Phong Le reported a decline in retail participation, prompting perpetual Bitcoin critic Peter Schiff to attack Strategy by suggesting that institutional buys were merely short-term trades.
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