Strategy Offers Four Bitcoin-Linked Preferred Stocks with High Annualized Dividends

Strategy, formerly known as MicroStrategy, raises funds through debt, common-share issuance and preferred stock to buy bitcoin, making BTC its core treasury asset. Michael Saylor argues that as long as bitcoin’s long-term annualized return exceeds the 2.05% cost of its preferred stock, the company can continue paying dividends without issuing additional common shares and diluting shareholders.

According to its latest disclosure, Strategy holds more than 760,000 bitcoin and remains the world’s largest publicly traded corporate holder of the cryptocurrency. Saylor recently hinted again at further purchases. At its current pace of accumulation, the company is buying close to three times the amount of new bitcoin supply created over the same period, indicating that it continues to use low-cost preferred stock to expand its BTC position.

Strategy, formerly known as MicroStrategy, is a key bellwether for corporate crypto treasury strategies, raising funds through common and preferred stock offerings to acquire Bitcoin. STRC is a preferred stock that pays monthly dividends. Changes to its dividend affect investor returns and reflect the company’s financing costs and capital needs amid Bitcoin volatility.

Strategy raised STRC’s annualized dividend rate by 25 basis points to 11.5% in March 2026 and has now kept it at that level for a fourth consecutive month. Meanwhile, Bitcoin fell 20% in February, dragging MSTR down 14% for the month and marking its eighth consecutive monthly decline, underscoring the divergence between preferred-stock yields and the risk profile of the common shares.