strc

Bitfinex Securities is a tokenized investment platform under the cryptocurrency exchange Bitfinex, which has launched 5 types of tokenized notes, providing economic exposure to Bitcoin reserve companies such as Strategy, Metaplanet, H100 Group, and Capital B for eligible investors. The platform has also launched the Strategy floating rate perpetual preferred stock STRC.The aforementioned notes are issued through the Luxembourg ORO (II) Fund, managed by SICOS Securities, with the underlying securities held in custody by regulated financial institutions, but do not grant investors direct ownership of shares in the corresponding companies. Products can be invested in fractions starting from about $1 and support trading in USD, USDT, and Bitcoin, available only to eligible non-U.S. investors. Bitfinex Securities stated that this is the first time related products have been traded in the secondary market on a regulated tokenized securities exchange. After completing a $50 million tokenized financing for the metal company Alkemya in August this year, the platform has listed assets exceeding $500 million.

Bitcoin holding company Strategy has spent a total of $635.2 million to repurchase its STRC perpetual preferred shares, with the latest transaction amounting to $151.8 million at an average price of $97.48. Despite the ongoing expansion of the repurchase scale, STRC is currently priced at $97.34, below its par value of $100. The company's previously launched $1 billion repurchase authorization has pushed STRC from a low of about $71 to around $97.Part of the pressure on STRC comes from competition with Strive's ASST perpetual preferred shares. ASST offers a 13% annual dividend paid daily, while STRC has a dividend yield of 12%, paid bi-monthly. ASST has maintained a price close to its par value of $100 for over a week, allowing Strive to issue additional shares through at-the-market (ATM) offerings, with the proceeds used to purchase 1,800 bitcoins over the past week.The performance of the common stocks of both companies has also diverged, with ASST rising 60% this year, while MSTR has fallen 15%. Additionally, Strategy purchased bitcoin for the first time in two months, buying 4,603 bitcoins last week at an average price of about $80,000, increasing its total holdings to 845,050 bitcoins (approximately $65.9 billion).

The dollar assets of Bitcoin Treasury Company Strategy have reached $6.69 billion, nearly equivalent to its $6.75 billion outstanding convertible bonds, with the net leverage ratio dropping to nearly zero. Driven by ongoing buybacks and the rebound of Bitcoin prices to around $80,000, its preferred stock STRC has rebounded over 35% since the low in June, currently reported at $97.23, still below the $100 par value.Executive Chairman Michael Saylor stated that USD Cash has enhanced the company's digital credit capital framework, specifically for the general purposes of Bitcoin Treasury Company, including increasing BTC holdings, paying preferred stock dividends and interest, repurchasing MSTR/preferred stock, repaying convertible bonds, and increasing dollar reserves. In May, Strategy repurchased $1.5 billion of convertible bonds maturing in 2029 to alleviate its debt burden.Competitor Strive Asset Management eliminated all debt earlier this year, and its preferred stock SATA has rebounded to the $100 par value, with shares issued last week through an ATM program. Analysts pointed out that eliminating debt will strengthen STRC's position in the capital structure, but ongoing buybacks, ample dollar liquidity, and the rebound in Bitcoin prices may provide more direct support for the preferred stock to return to par value.

According to the 8-K document submitted by Strategy to the SEC, the company did not purchase Bitcoin from August 17 to 23, 2026, maintaining a holding of 840,447 coins, with a total holding cost of approximately $6.336 billion and an average price of about $75,385.During the same period, the company sold 18,261,100 shares of MSTR common stock through the ATM program, raising approximately $2.0065 billion, of which $136.4 million was used to repurchase STRC preferred stock, $300 million was used to replenish the USD Reserve, and the remainder was allocated to the USD Cash liquidity account; additionally, $136.4 million was used to repurchase 1,431,200 shares of STRC preferred stock, with a remaining balance of approximately $516.6 million in the preferred stock repurchase program.As of August 23, the balance of the USD Reserve was $5.1 billion, and the balance of USD Cash was $1.59 billion.

Tushar Jain, co-founder of Multicoin Capital, stated that despite the significant rise in BTC, STRC has not re-pegged due to its low dividend levels. STRC was promoted as a fixed income product but has experienced a significant drawdown of about 30%.Tushar Jain pointed out that if investors need to bear such a level of drawdown risk, the yield of STRC must be significantly increased to provide adequate compensation for the aforementioned risk.

BitcoinTreasuries.NET posted on platform X that Strive CEO Matt Cole stated that Bitcoin is historically low in price at the current price range, and Strive is willing to take the risk to continue buying BTC here.Matt Cole mentioned that the strategy is to only sell BTC to support STRC returning to par value, allowing for long-term accumulation of BTC in a value-enhancing manner.

Bitcoin Treasury Company Strategy (formerly MicroStrategy) stated on platform X that its $STRC semi-monthly dividend of $0.50 per share has been paid today. The next semi-monthly dividend payment date for $STRC is August 31.Strategy is known for its large-scale holdings of Bitcoin and financing through the issuance of various preferred stocks and convertible securities. $STRC is one of its related preferred stock products, distributing fixed dividends to shareholders on a semi-monthly basis. The company continues to support its Bitcoin reserve strategy through capital market instruments.

According to SoSoValue data, as of 8:00 AM Eastern Time on August 17, 2026, the total net purchase of Bitcoin by global listed companies (excluding mining companies) for the week was $5.32 million, a decrease of 90.34% compared to last week.Strategy did not buy or sell Bitcoin last week but spent $132 million to repurchase 1,388,720 shares of STRC preferred stock.The Japanese listed company Metaplanet did not purchase Bitcoin last week, marking five consecutive weeks without buying Bitcoin.In addition, two other companies purchased Bitcoin last week. The French Bitcoin company Capital B announced on August 17 that it bought 5 Bitcoins at a price of $64,395.60, bringing its total holdings to 3,145 Bitcoins; asset management company Strive announced on August 17 that it spent $5 million last week to purchase 79 Bitcoins at a price of $63,231, bringing its total holdings to approximately 20,246 Bitcoins.As of the time of writing, the total amount of Bitcoin held by the global listed companies (excluding mining companies) in the statistics is 1,139,641 Bitcoins, an increase of 0.007% compared to last week, with a current market value of approximately $72.42 billion, accounting for 5.7% of the circulating market value of Bitcoin.

According to the 8-K document submitted by Strategy to the U.S. SEC, the company did not purchase Bitcoin from August 10 to 16, 2026, maintaining a position of 840,447 coins, with a total holding cost of approximately $6.336 billion and an average cost of about $75,385.During the same period, the company sold MSTR common stock through its ATM program, raising approximately $333.7 million in net proceeds, part of which was used to replenish dollar reserves, repurchase STRC preferred stock, and pay STRC dividends. As of August 16, the company's dollar reserve balance was $4.8 billion, a decrease of about $200 million from the previous week.

Solstice Finance launches strcUSX on Solana, splitting the dividend income and price risk of the Nasdaq-listed company Strategy's Series A perpetual preferred stock STRC into two types of tokens: senior and junior. The annual dividend yield of STRC is 12%.The senior tranche SR-strcUSX targets an annual yield of approximately 7%, with priority for dividend income and principal repayment; the junior tranche JR-strcUSX bears the first loss from market value fluctuations and receives the remaining income after payments to the senior tranche, targeting an annual yield of over 20%. Users can deposit USX into the strcUSX vault to receive tokens corresponding to the risk level. Both types of tokens are native assets on Solana, tradable, usable as collateral, or accessible for DeFi applications.Solstice Finance will also integrate USX into Zebec Network's payroll infrastructure, which processes over $500 million in payroll annually and has over 50,000 monthly active users.

According to official news, Saturn announced a partnership with Ondo to bring institutional-grade tokenized assets into Saturn's (STRC) structured products.At the same time, Ondo also made a strategic investment in Saturn.

The founder of Strategy, Michael Saylor, proposed the concept of the "Digital Assets Monetary Spectrum," categorizing different types of digital assets based on volatility, potential returns, and trading functions.Saylor stated that the digital asset system can be divided into four levels: Bitcoin (BTC): Digital Capital (Digital Capital) STRC: Digital Credit (Digital Credit) SR-strcUSX: Digital Money (Digital Money) USDT: Digital Currency (Digital Currency).He believes that from left to right, asset volatility and potential returns gradually decrease, while stability and trading utility continuously increase. Saylor stated that Bitcoin is the "ultimate value storage asset," possessing high volatility, high potential returns, and the attributes of a digital asset that does not require third-party credit endorsement; whereas stablecoins are the "ultimate medium of exchange," emphasizing stability and payment functionality. In between the two, digital credit and digital currency serve as a bridge connecting capital and currency. Among them, STRC is defined by Saylor as "digital credit," characterized by relative stability, high fixed returns, and certain value storage attributes.He further stated that digital currency combines digital currency technology with digital capital economic attributes, possessing stability, earning capacity, trading convenience, and value storage functions. Saylor noted that digital capital belongs to bearer assets, while assets such as digital credit, digital currency, and digital cash are created and managed by digital financial companies, with their ownership layer corresponding to "Digital Equity." These components together form the future "Digital Finance Stack."

Bitcoin Treasuries.NET posted on platform X that the opening price of STRC under Strategy was $95.39, the highest opening price in two months, less than 5% away from par value.

The DeFi platform Solstice Finance has launched strcUSX on Solana, a structured product that allows DeFi users to earn dividend income and price risk exposure without tokenizing the STRC preferred stock of the Strategy.strcUSX splits the exposure into senior tokens and junior tokens, with the former targeting an annualized yield of 7% and the latter targeting an annualized yield of over 20%. If the price of STRC falls, junior token holders will bear the losses first. Users deposit Solstice's USX tokens into the treasury, which can be redeemed after a lock-up period of 7 days; if they exit immediately, a fee will be charged. Earnings are realized through changes in the token exchange rate and are not distributed in a separate allocation form.

Michael Saylor posted on the X platform, stating that the Strategy increased its dollar reserves by $650 million and repurchased $109 million of STRC. This move extended the dollar duration by 143 days to 2.7 years and narrowed the Bitcoin credit spread of STRC by 10 basis points. As of August 9, 2026, the Strategy holds 840,447 Bitcoins, with dollar reserves of $4.65 billion.

Software company Strategy holds nearly 850,000 bitcoins, valued at just over $50 billion, with some recent purchases financed through debt and stock issuance. Michael Saylor's wealth has fluctuated with the price of bitcoin since he shifted the company to a bitcoin accumulation business in 2020. Michael Saylor stated that last year, with the help of an AI chatbot, he earned $15 billion through the company's issued bitcoin-backed preferred stock.The annual dividend yield of STRC issued by Strategy is 12%, and the recent price has rebounded to nearly $100, having dropped to about $75 in late June. Over the past year, the value of Strategy's common stock has decreased by about 80% alongside the price of bitcoin. The company recently sold some bitcoins to manage debt and dividend commitments and has established a $4 billion cash reserve to provide about two years of funding support for future financing. Michael Saylor also mentioned that last May, he used ChatGPT to conduct in-depth research to design the company's convertible preferred stock product.

According to CoinDesk, STRC is currently reported at nearly $94, up more than 30% from the low point in late June. Strategy has repurchased $106 million of the preferred stock and maintained the annual dividend yield of STRC at 12%.Strategy has strengthened its dividend coverage capability by selling Bitcoin and establishing a $4 billion reserve. The price of Bitcoin has stabilized above $60,000.

According to the 8-K document submitted by Strategy to the SEC, the company sold 1,638 bitcoins at an average price of approximately $63,957 from July 27 to August 2, 2026, totaling about $104.7 million, of which approximately $52.4 million was used to pay preferred stock dividends and about $52.3 million was used to repurchase STRC preferred stock.As of August 2, Strategy held a total of 842,138 bitcoins, with a total holding cost of approximately $63.51 billion and an average price of about $75,419.During the same period, the company sold 3,011,400 shares of MSTR common stock through the ATM program, raising approximately $290.6 million, of which $250 million was used to replenish dollar reserves, $28.9 million was used to repurchase STRC preferred stock, and $11.7 million was added to cash balance.In addition, the company repurchased 912,143 shares of STRC preferred stock for $81.2 million, with a remaining quota of approximately $893.8 million for the preferred stock repurchase plan. As of August 2, the company's dollar reserve balance was $4 billion, an increase of approximately $25 million from the previous week.

According to The Block, Strategy Executive Chairman Michael Saylor stated during the company's second-quarter earnings call that while the company has historically allocated "100% of its funds to Bitcoin," it may adopt a strategy of holding both cash and BTC in the future. He mentioned, "Perhaps the best way to buy the most Bitcoin is not to buy the most Bitcoin immediately."TD Cowen and Benchmark both maintained a buy rating on the stock following Strategy's second-quarter earnings call. Both institutions believe that the current management's core objective has shifted to bringing the price of its STRC preferred shares back to par value, thereby restoring its ability as a financing tool.TD Cowen analyst Lance Vitanza stated that the most important message from the call was management's high regard for STRC. Company executives repeatedly emphasized that returning STRC to par value is a core goal and mentioned that despite recent price deviations of the security, institutional adoption is still increasing.Benchmark analyst Mark Palmer shared a similar view. He pointed out that Saylor and his team spent most of the 90-minute call focused on the same goal: restoring STRC to the $99 to $100 range, making it a primary engine for the company to raise funds to purchase Bitcoin.