Strategy’s STRC Nears $100, Raising Prospects for Major Bitcoin Buys

Strategy’s STRC preferred stock is approaching the crucial $100 level, potentially giving the Bitcoin treasury company another major source of capital to fund future BTC purchases.

STRC’s $100 price is important because Strategy could raise capital through the preferred stock rather than issuing additional MSTR common shares. STRC currently carries an annualized variable dividend of 12% at the $100 level, which Strategy has sought to maintain.

The company has indicated that it does not currently intend to issue new STRC shares below their $100 par value. With STRC trading under that threshold, Strategy has instead been buying back shares.

However, a sustained move back to $100 or higher could change the situation. Strategy could resume selling STRC through its at-the-market program, which had approximately $17.5 billion in remaining capacity as of Oct. 4. Proceeds can be used for general corporate purposes, including additional Bitcoin purchases.

STRC has staged a substantial recovery after experiencing heavy selling pressure earlier this year. After trading above $95 in mid-June, the preferred stock plunged to an intraday low of $71.25 on June 26.

It subsequently recovered into the mid-$80 range and consolidated during July before climbing above $90 in early August. STRC reached $98.51 on Sept. 18 and $99.56 on Sept. 29. As of Oct. 2, it was trading at $99.41, representing a gain of roughly 40% from its June low.

Still, STRC reaching $100 would not automatically mean Strategy will immediately buy more Bitcoin. Instead, trading at or above par would make STRC a more attractive fundraising option under the company's current policies.

There is precedent for STRC financing supporting major Bitcoin acquisitions. Strategy's original STRC issuance generated approximately $2.47 billion in net proceeds in July 2025. Days later, the company announced the purchase of 21,021 BTC for roughly $2.46 billion.

With STRC now approaching $100 again, investors may closely watch whether Strategy taps its remaining issuance capacity and channels fresh capital into expanding its already substantial Bitcoin holdings.