STRC Reclaims $100: Bitcoin’s ATM Dance

by

Markets

What to know:

  • Stretch (STRC) reclaimed its $100 par value for the first time since mid-January, a sunbeam slipping through a window, enabling Strategy (MSTR) to resume at-the-market offerings for additional bitcoin purchases.
  • The preferred equity stabilized near par despite recent bitcoin volatility, supported by a monthly dividend rate that Strategy recently increased to 11.25%.

Stretch (STRC), the perpetual preferred equity issued by Strategy (MSTR), the world’s largest corporate bitcoin holder, reclaimed its $100 par value during Wednesday’s U.S. session for the first time since mid-January.

STRC trading at or above par enables the company to resume at-the-market (ATM) offerings to fund further bitcoin acquisitions. STRC last hit the $100 level on Jan. 16 when bitcoin hovered near $97,000; however, as the largest cryptocurrency by market capitalization retreated to as low as $60,000 by Feb. 5, STRC dipped to a low of $93 before its recent rebound.

Positioned as a short-duration, high-yield credit instrument, STRC currently offers an 11.25% annual dividend distributed monthly. To mitigate volatility and incentivize trading near par, Strategy resets this rate monthly, recently hiking it to the current 11.25% yield.

MSTR common stock faced pressure, sliding 5% on Wednesday to close at $126, as bitcoin hovers around $67,500.

Markets, that stubborn chorus, applaud and sigh in the same breath; a par value becomes a little sunbeam, and ATM offerings wear a wry smile at the prospect of more bitcoin on the table.

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2026-02-12 07:14