Strategy's STRC preferred stock is closing in on the $100 level, a threshold that would reopen a cheaper funding channel for the company's Bitcoin purchases. The stock has climbed roughly 40% since a June low, and history shows STRC sales have previously funded large BTC buys.
Strategy's STRC preferred stock is approaching the $100 level it has been trying to hold, a move that could reopen a key source of capital for the company's Bitcoin purchases. The stock last traded at $99.41 as of Oct. 2, up about 40% from its June low.
Why $100 matters
STRC carries an annualized variable dividend that Strategy has aimed to keep near a target level. That rate sits at 12% when STRC trades at $100. Getting back above that line would let the company raise capital without issuing more common MSTR shares.
Strategy has said it has no current intent to issue new STRC shares below par. Instead, while the stock traded under $100, the company engaged in share buybacks. Once STRC clears $100, Strategy could resume selling the stock through its at-the-market program, which had roughly $17.5 billion of remaining capacity as of Oct. 4. Proceeds from that program can be used for general corporate purposes, including buying Bitcoin.
A sharp recovery since June
The stock spent time near $100 in May, then came under heavy selling pressure in June. It dropped from over $95 in mid-June to an intraday low of $71.25 on June 26. From there it bounced to the mid-$80s and consolidated through July.
STRC then topped $90 in early August and posted a series of higher highs and higher lows into September. It hit $98.51 on Sept. 18. It then moved up to $99.56 on Sept. 29 before settling at its Oct. 2 price.
Reaching $100 does not automatically trigger new Bitcoin buying. Rather, trading at or above that level makes STRC a more appealing source of capital under Strategy's current policies.
There is, however, a history of STRC funding large Bitcoin purchases. Strategy's original STRC issuance raised around $2.47 billion in net proceeds in July 2025. Days later, the company announced the purchase of 21,021 BTC for about $2.46 billion.
Source: U.Today
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