Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, ticker STRC, returned to its $100 par value between October 29 and November 4, 2026, after spending 165 days below that level. The security had fallen to around $71 following its July 2025 launch, prompting Strategy to deploy more than $2 billion in share repurchases, maintain a $4 billion cash reserve and repeatedly raise the dividend, which now stands at a 12% annualized rate paid monthly. The return to par could reopen STRC issuance, which Strategy suspended while the price remained below $100, providing additional capital for Bitcoin purchases without immediately diluting common shareholders. This funding option comes with a substantial recurring cost, while STRC’s continued correlation with Bitcoin prices remains a major risk.
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