PANews reported on February 12th that, according to CoinDesk, Strategy's perpetual preferred stock, STRC, climbed back above $100 par value during US trading hoursPANews reported on February 12th that, according to CoinDesk, Strategy's perpetual preferred stock, STRC, climbed back above $100 par value during US trading hours
Strategy's perpetual preferred stock (STRC) has returned to its $100 par value, potentially opening up room for a new round of Bitcoin accumulation.
PANews reported on February 12th that, according to CoinDesk, Strategy's perpetual preferred stock, STRC, climbed back above $100 par value during US trading hours on Wednesday, the first time since mid-January. This price level is a key threshold for the company to initiate a market-price offering to further increase its Bitcoin holdings.
STRC touched $100 on January 16, when Bitcoin was around $97,000. When Bitcoin fell to $60,000 on February 5, STRC briefly dipped to $93, but recently recovered to par value with the market rebound. This product uses a monthly dividend reset mechanism, currently offering an annualized dividend yield of 11.25%, designed to smooth volatility and incentivize trading prices to converge towards par value.
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