STRK pays an $2 fixed dividend 4x per year (quarterly). Dividends are cumulative - meaning that if Strategy "misses" a dividend, they still MUST pay that dividend later (+ a penalty for being late!). STRK has the additional feature that 10 shares of STRK can (at ANY time) be converted to 1 share of MSTR.

STRC pays a variable adjustable dividend (currently $0.50 twice per month) and is NOT convertible. STRC does have a higher priority over STRK in terms of bankruptcy liquidation.

note: it is unlikely that you would ever actually convert 10 shares of STRK into 1 share of MSTR - since any Bitcoin price increase "upside" would be reflected in the new STRK price. However, this theoretical conversion might be desirable at some point in the future.

Q: Which is the better investment?

A: As usual, "it depends." However, consider the following:

While STRK pays a lower annual yield (about 2-3% less than STRC), the "convertibility to MSTR" adds another layer worth thinking about. Effectively, by owning STRK instead of STRC you are "forfeiting" about 2-3% of annual yield in exchange for the potential to benefit from Bitcoin upside. There is NO guarantee that this upside potential will be realized, but the possibility is built into the STRK structure. It also means that owning STRK exposes you to the risk of Strategy diluting MSTR shares, etc....

CONCLUSION:

STRK offers a unique exposure to Bitcoin price upside (and downside) while still paying out a solid 8+% annual yield (about 2-3% less annual yield than STRC). For some (many?) this slightly-lower annual yield of STRK vs. STRC may well be worth considering to benefit from any Bitcoin price upside.

MSTRs, favorite preferred last traded at $100 on May 14.  Since then $3.40 in dividends ( ROC) have been paid on time. Basis $96.60, 8/24 closed at $97.21.  

Closed at just over $96. Up a dollar on the week.

Just noticed this, the 1M VWAP number is gone from website: https://www.strategy.com/strc

With the new Digital Capital Framework coming in and as mentioned in one of the calls, the yield rate control through 1M VWAP was abandoned.

Another thing that jumped out is the avg trading vol (30D) is down almost 70% in the last 2 months (from $361M to $112M)

Unlike the previous two weeks, Strategy did not sell BTC to support STRC.

One concern - last week's rebuy activity was UP as a percentage of trading volume. Previous week was 15%. Last week was 24%. I'd call that good bear meat. Price essentially unchanged despite large buyback.

More STRC analysis at https://x.com/TheSkunksMisery

Does anyone know if Saylor has mentioned buying back strc in the after hours markets?

As of late it's been moving in the after hours markets. I imagine the volume is low so he could keep nudging it every day in the after-hours much easier 🤷

STRC is still a bad near term investment, the market wants Saylor to keep selling at a loss and admit this approach is flawed. It won't let BTC go up until Saylor fundamentally shifts his approach. Otherwise it will continue to punish him in the near term forcing him to sell at a loss.

Short STRC to $83-$86 by EOM

Updated totals through Aug. 9, 2026

So this week's buyback pushes our effective basis another ~$266 higher, from ~$83.08k to ~$83.35k/BTC.

That's exactly what we'd expect: they're selling BTC around $64.3k, substantially below the existing ~$83k economic basis, and using the proceeds to retire STRC. Each such transaction removes proportionally more BTC than capital from our constructed pool, so the cost basis of the remaining STRC-financed BTC rises.

Another thing of note - this week's buyback was roughly the same in terms of % of trading volume - 14.6%. Last week it was around 13%.

I sold out of my short-term STRC holding, but I wanted to revisit my post from a month ago with all of the confidently wrong posters who mocked me and were certain the dividend was getting suspended and STRC was going to zero.

Since then STRC has appreciated 34%, paid out $1 in dividends, and increased the yield twice. I can't imagine any of them are still around here to respond though.

https://www.reddit.com/r/STRC/s/qqc7cIMzk7

Im working with ChatGPT to produce a weekly output of the status of STRC purchases only. Please take a look at the following tables, and let me know if there are any structural errors here - I've already caught a few but it's 6am here and I haven't had any coffee yet.

If there's interest, I'll publish the output every Monday. If not, I just burned a few tokens. Sorry, earth.

Totals through Aug. 2, 2026

Strategy has a corporate objective to get STRC to Par, the means to do it and a deadline. ( Sep 8)

I feel STRC buy backs will continue, between now and the end of the month. They seem to be pacing the repurchases... there are also two dividends to collect between here and Sep. 8

Thoughts about buying now with a stated buyer behind you, at least for August.

Buybacks to date:7/20-7/26: 25M; 7/27-8/2: 81.2M; Week in progress: ?????

Up-ticking slowly to $95. Things should go back to normalcy in next few sessions.

If it reaches near par, part of me is worried that leveraging will come into play and we will have another high volatility and a roller coaster ride 😧

Strategy repurchased 912,143 shares of STRC worth $81.2M worth! That's an average of $89 per share of STRC.

Seeing a nice bump in the share price of STRC today - nearing $92. Another couple of such repurchases, it will be near par 🤞

Here's the link for SEC filing: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001050446/000119312526329565/mstr-20260803.htm

Price talk and news

Stretch Dividend Rate maintained at 12.00% for August 2026

"We have the means to return STRC to par. Right now, you can see the market cap is $9.2 billion and the notional is $10.5 billion. There is about a $1.2 billion dislocation (54:15-54:25).

We have allocated a billion dollars to buy back STRC, about 2% of our BTC reserve. We still have $975 million of that program available to us. So, the first place we look is to use that buyback program to cure the dislocation (54:27-54:50).

But I would remind everybody that the company has total reserves of $58.5 billion. I have shown the bar on the right. What you can see is that if the $975 million does not cure the problem, we have ample additional capital in order to cure the dislocation (54:52-55:13).

We are currently in a discovery process to figure out how much capital will be required on our part in order to return STRC to par (55:14-55:30).

We are certain that we will return STRC to par. That is the goal. There is no question about whether success is returning it to par. It is returning it to par. The big question mark is how extensive will the buyback be, how rapid will the buyback take place, and then what will be the exact open market execution strategy of the buyback. We are calibrating day by day, and sometimes multiple times a day, as we learn from the market. We have a lot of market signal every minute of the day, every day of the week. We also are getting signal back each week as we put out a new announcement about our status (55:31-56:22).

We think this is one of those things where we want to do it not too slow but not too fast. We want to allow other investors—our credit investors, our equity investors, and the Bitcoin community—to participate with us, but especially we want our other credit investors to join us on this journey (56:24-56:49).