Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) briefly reached $100 on November 4, 2026, marking its first return to that level since May and potentially reopening a financing channel for additional Bitcoin purchases.
The Nasdaq-listed security touched its $100 stated value during Wednesday’s trading session before slipping to approximately $99.99. The milestone matters because Strategy has maintained a policy of avoiding new STRC issuance below $100.
A sustained recovery could allow the company to sell additional preferred shares through its at-the-market offering program and use the proceeds to acquire Bitcoin. However, reaching $100 does not automatically trigger new issuance, and Strategy has not confirmed that sales have resumed.
The development follows months of efforts to stabilize STRC’s trading price through repurchases, dividend adjustments and liquidity management.
More Than $2 Billion in Buybacks Help Restore STRC’s Price
STRC experienced substantial volatility during the summer, falling to an intraday low of approximately $71.25 on June 26. The decline left the security trading significantly below its stated value, limiting Strategy’s ability to raise capital through additional preferred share issuance.
In response, the company implemented an extensive repurchase program intended to reduce outstanding shares and support market confidence. Disclosures indicate that Strategy repurchased approximately $2.25 billion of STRC through November 1.
The repurchases also reduced future dividend obligations by retiring shares that would otherwise continue generating payments. Strategy’s latest filing showed that approximately $17.51 billion remained available under its STRC issuance program.
However, the company reported no new STRC sales during the latest weekly reporting period. Instead, Strategy acquired 811 Bitcoin for approximately $65.5 million using proceeds from sales of its MSTR common stock. The company held approximately 849,327 Bitcoin following those purchases, maintaining its position as the largest publicly traded corporate Bitcoin holder.
The recovery of STRC therefore represents a potential expansion of Strategy’s financing options rather than confirmation of an immediate increase in Bitcoin acquisitions.
Daily Dividend Payments Support New Capital-Raising Strategy
STRC’s recovery also follows changes to the company’s preferred stock dividend arrangements. On October 28, shareholders approved amendments allowing daily dividend accruals and payments for STRC and three other preferred securities.
Preliminary voting results showed approximately 99.3% support for the amendments. Daily dividend payments for STRC began in November, replacing the previous semi-monthly distribution schedule. Strategy expects the revised structure to reduce predictable price fluctuations around dividend dates and improve the security’s appeal to income-focused investors.
STRC currently carries a 12% annualized dividend rate, equivalent to $12 annually for each $100 of stated value, subject to applicable dividend declarations. The company has indicated that it intends to maintain the rate until the security demonstrates sustained trading near its target level.
However, the relatively high dividend creates continuing financing obligations regardless of Bitcoin’s market performance. Additional preferred share issuance would generate fresh capital but also increase the company’s future dividend commitments. Strategy must therefore balance the benefits of financing Bitcoin acquisitions against the recurring cost of its preferred stock.
For investors, the key question is whether STRC can maintain sufficient demand at or above $100 to support meaningful new issuance. A sustained recovery could restore an important source of funding for Strategy’s Bitcoin accumulation program.
For now, the November 4 milestone demonstrates improved market pricing, while actual fundraising and subsequent Bitcoin purchases remain dependent on management decisions and investor demand.
