Michael Saylor’s business intelligence firm Strategy has debuted a novel Bitcoin-collateralized financial instrument on the Nasdaq exchange. The STRD 10% Series A Perpetual Preferred Stock offers investors fixed dividends while leveraging the company’s substantial Bitcoin reserves as underlying security.
The stock launched at $85 per share and currently trades near $89.88, with 11.76 million shares issued to raise approximately $980 million. Proceeds will fund additional Bitcoin acquisitions, reinforcing Strategy’s commitment to expanding its cryptocurrency holdings.
Investors retain redemption rights under specific conditions, while Strategy may recall all outstanding shares if fewer than 25% remain or due to qualifying tax events. This launch coincides with a 26% appreciation in Strategy’s primary stock (MSTR) this year, signaling robust market confidence in its Bitcoin-focused strategy.
The STRD offering represents a significant convergence of traditional finance and digital assets, catering to growing investor demand for hybrid instruments that combine conventional dividend yields with cryptocurrency market exposure.