strc

Solstice Finance launches strcUSX on Solana, splitting the dividend income and price risk of the Nasdaq-listed company Strategy's Series A perpetual preferred stock STRC into two types of tokens: senior and junior. The annual dividend yield of STRC is 12%.The senior tranche SR-strcUSX targets an annual yield of approximately 7%, with priority for dividend income and principal repayment; the junior tranche JR-strcUSX bears the first loss from market value fluctuations and receives the remaining income after payments to the senior tranche, targeting an annual yield of over 20%. Users can deposit USX into the strcUSX vault to receive tokens corresponding to the risk level. Both types of tokens are native assets on Solana, tradable, usable as collateral, or accessible for DeFi applications.Solstice Finance will also integrate USX into Zebec Network's payroll infrastructure, which processes over $500 million in payroll annually and has over 50,000 monthly active users.

According to official news, Saturn announced a partnership with Ondo to bring institutional-grade tokenized assets into Saturn's (STRC) structured products.At the same time, Ondo also made a strategic investment in Saturn.

The founder of Strategy, Michael Saylor, proposed the concept of the "Digital Assets Monetary Spectrum," categorizing different types of digital assets based on volatility, potential returns, and trading functions.Saylor stated that the digital asset system can be divided into four levels: Bitcoin (BTC): Digital Capital (Digital Capital) STRC: Digital Credit (Digital Credit) SR-strcUSX: Digital Money (Digital Money) USDT: Digital Currency (Digital Currency).He believes that from left to right, asset volatility and potential returns gradually decrease, while stability and trading utility continuously increase. Saylor stated that Bitcoin is the "ultimate value storage asset," possessing high volatility, high potential returns, and the attributes of a digital asset that does not require third-party credit endorsement; whereas stablecoins are the "ultimate medium of exchange," emphasizing stability and payment functionality. In between the two, digital credit and digital currency serve as a bridge connecting capital and currency. Among them, STRC is defined by Saylor as "digital credit," characterized by relative stability, high fixed returns, and certain value storage attributes.He further stated that digital currency combines digital currency technology with digital capital economic attributes, possessing stability, earning capacity, trading convenience, and value storage functions. Saylor noted that digital capital belongs to bearer assets, while assets such as digital credit, digital currency, and digital cash are created and managed by digital financial companies, with their ownership layer corresponding to "Digital Equity." These components together form the future "Digital Finance Stack."

Bitcoin Treasuries.NET posted on platform X that the opening price of STRC under Strategy was $95.39, the highest opening price in two months, less than 5% away from par value.

The DeFi platform Solstice Finance has launched strcUSX on Solana, a structured product that allows DeFi users to earn dividend income and price risk exposure without tokenizing the STRC preferred stock of the Strategy.strcUSX splits the exposure into senior tokens and junior tokens, with the former targeting an annualized yield of 7% and the latter targeting an annualized yield of over 20%. If the price of STRC falls, junior token holders will bear the losses first. Users deposit Solstice's USX tokens into the treasury, which can be redeemed after a lock-up period of 7 days; if they exit immediately, a fee will be charged. Earnings are realized through changes in the token exchange rate and are not distributed in a separate allocation form.

Michael Saylor posted on the X platform, stating that the Strategy increased its dollar reserves by $650 million and repurchased $109 million of STRC. This move extended the dollar duration by 143 days to 2.7 years and narrowed the Bitcoin credit spread of STRC by 10 basis points. As of August 9, 2026, the Strategy holds 840,447 Bitcoins, with dollar reserves of $4.65 billion.

Software company Strategy holds nearly 850,000 bitcoins, valued at just over $50 billion, with some recent purchases financed through debt and stock issuance. Michael Saylor's wealth has fluctuated with the price of bitcoin since he shifted the company to a bitcoin accumulation business in 2020. Michael Saylor stated that last year, with the help of an AI chatbot, he earned $15 billion through the company's issued bitcoin-backed preferred stock.The annual dividend yield of STRC issued by Strategy is 12%, and the recent price has rebounded to nearly $100, having dropped to about $75 in late June. Over the past year, the value of Strategy's common stock has decreased by about 80% alongside the price of bitcoin. The company recently sold some bitcoins to manage debt and dividend commitments and has established a $4 billion cash reserve to provide about two years of funding support for future financing. Michael Saylor also mentioned that last May, he used ChatGPT to conduct in-depth research to design the company's convertible preferred stock product.

According to CoinDesk, STRC is currently reported at nearly $94, up more than 30% from the low point in late June. Strategy has repurchased $106 million of the preferred stock and maintained the annual dividend yield of STRC at 12%.Strategy has strengthened its dividend coverage capability by selling Bitcoin and establishing a $4 billion reserve. The price of Bitcoin has stabilized above $60,000.

According to the 8-K document submitted by Strategy to the SEC, the company sold 1,638 bitcoins at an average price of approximately $63,957 from July 27 to August 2, 2026, totaling about $104.7 million, of which approximately $52.4 million was used to pay preferred stock dividends and about $52.3 million was used to repurchase STRC preferred stock.As of August 2, Strategy held a total of 842,138 bitcoins, with a total holding cost of approximately $63.51 billion and an average price of about $75,419.During the same period, the company sold 3,011,400 shares of MSTR common stock through the ATM program, raising approximately $290.6 million, of which $250 million was used to replenish dollar reserves, $28.9 million was used to repurchase STRC preferred stock, and $11.7 million was added to cash balance.In addition, the company repurchased 912,143 shares of STRC preferred stock for $81.2 million, with a remaining quota of approximately $893.8 million for the preferred stock repurchase plan. As of August 2, the company's dollar reserve balance was $4 billion, an increase of approximately $25 million from the previous week.

According to The Block, Strategy Executive Chairman Michael Saylor stated during the company's second-quarter earnings call that while the company has historically allocated "100% of its funds to Bitcoin," it may adopt a strategy of holding both cash and BTC in the future. He mentioned, "Perhaps the best way to buy the most Bitcoin is not to buy the most Bitcoin immediately."TD Cowen and Benchmark both maintained a buy rating on the stock following Strategy's second-quarter earnings call. Both institutions believe that the current management's core objective has shifted to bringing the price of its STRC preferred shares back to par value, thereby restoring its ability as a financing tool.TD Cowen analyst Lance Vitanza stated that the most important message from the call was management's high regard for STRC. Company executives repeatedly emphasized that returning STRC to par value is a core goal and mentioned that despite recent price deviations of the security, institutional adoption is still increasing.Benchmark analyst Mark Palmer shared a similar view. He pointed out that Saylor and his team spent most of the 90-minute call focused on the same goal: restoring STRC to the $99 to $100 range, making it a primary engine for the company to raise funds to purchase Bitcoin.

Bitcoin News posted on the X platform that Strategy raised $17.06 billion through its capital plan in 2026, of which $7.53 billion comes from STRC, increasing its holdings to 843,800 BTC. The company established a $3.75 billion USD Reserve, sufficient to cover over 2.1 years of preferred stock dividends and interest payments.Strategy repurchased $1.5 billion of convertible notes at an 8% discount and repurchased STRC below par, while selling $218 million in Bitcoin to help pay preferred stock dividends. Future Bitcoin sales may also be used to replenish reserves and fund stock buybacks. The report also introduced two new metrics. The BTC Hurdle ARR is currently 10.8%, representing Strategy's effective credit cost. CFO Andrew Kang stated that when Bitcoin's annual return exceeds this threshold, the net Bitcoin growth per share will outpace Bitcoin itself.The document outlines the financial system that Strategy is building around its Bitcoin treasury. The USD Reserve, Bitcoin Monetization Program, Digital Credit framework, debt repurchase, and new KPIs all belong to the same structure. The company is creating a model to raise capital, manage liabilities, pay investors, and measure performance from the perspective of Bitcoin per share.

According to Bitcoin.com, Strategy Executive Chairman Michael Saylor revealed that the company will consider market conditions in the future to repurchase STRC preferred shares (Series A perpetual preferred shares, with a par value of $100) by selling Bitcoin or MSTR stock.When the trading price of STRC is significantly below $100, the discounted repurchase can reduce future dividend expenses and has strong capital allocation appeal.

Michael Saylor stated that the repurchase funds for STRC will not come from dollar reserves, but will be raised by selling MSTR stock and Bitcoin based on market conditions.The goal is to drive STRC to trade near the $100 level while maintaining high liquidity, low volatility, and healthy, sustainable independent demand. At the same time, the company will not issue STRC at a price below $100.

Founder of Strategy, Michael Saylor, stated that digital credit is entering the mainstream allocation range for institutions. STRC has now become the largest holding in the three leading preferred stock ETFs in the United States, with a total related holding size reaching $756 million, involving BlackRock PFF, Virtus InfraCap PFFA, and VanEck PFXF.

Bitcoin Treasuries.NET posted on platform X that VanEck's Preferred Securities ex-Financials ETF PFXF, managing $237 billion in assets, has increased its holdings in Strategy Stretch STRC to 2.42 million shares, valued at $209 million, accounting for over 8.75% of the ETF's net assets, which belong to digital credit assets.

Strategy MSTR CEO Phong Le stated that the plan is to bring STRC back to par value and restore Bitcoin holdings. Strategy will continue to increase its dollar reserves, as this has a dilutive effect on its per-share Bitcoin.Phong Le also mentioned that retaining 2 to 3 years of dividends in dollar reserves is an important part of its capital plan, in order to issue more preferred shares in the future.

According to The Block, Standard Chartered stated that it maintains its price prediction of Bitcoin reaching $100,000 by the end of 2026. The recent market decline triggered by movements related to Strategy (formerly MicroStrategy) is not due to a deterioration of the company's balance sheet, but rather a failure of the strategic adjustments to be fully understood by the market.Geoffrey Kendrick, Global Head of Digital Asset Research at Standard Chartered, pointed out in a report that Strategy's recent behavior is disrupting short-term market expectations for Bitcoin. The market had previously accepted the narrative of the company "never selling Bitcoin," but now Strategy seems to be shifting towards a more complex capital operation model. Whether this change can be clearly communicated will determine when market pressure eases.Currently, Strategy holds 843,775 Bitcoins, accounting for over 4% of the total supply of 21 million Bitcoins. Between 2020 and mid-2025, Strategy's mNAV (market value/Bitcoin asset value) has remained above 1, allowing the company to finance Bitcoin purchases through stock issuance and achieve shareholder value growth.The commitment to "never sell Bitcoin" is the core of this model gaining market recognition. However, as the current mNAV approaches 1, the leverage effect of this financing model is weakening. Kendrick believes that Strategy is transitioning from a "Bitcoin accumulation tool" to a "Bitcoin credit support tool," meaning it holds Bitcoin as the credit basis for its perpetual preferred stock STRC.STRC currently has a scale of about $10 billion, making it the largest financial instrument launched by Strategy, with an annualized dividend yield of 12%, paid in cash every half month, and its price maintained around the $100 par value through an interest rate adjustment mechanism. Standard Chartered stated that STRC is currently trading at about $90, while Strategy has a dollar reserve of about $2.55 billion for paying dividends, which can cover approximately 17.4 months of dividend expenses.Kendrick stated that the policy adjustment allowing the sale of Bitcoin does not necessarily mean the company will continue to sell. He believes that as long as the market believes the new capital structure arrangement can stabilize the STRC price, Strategy may not actually need to sell Bitcoin. He likened this mechanism to a central bank's commitment to "take action no matter what": restoring market confidence alone may mean that actual intervention might not occur at all.

On June 29, Strategy raised the annual dividend of STRC to 12% and authorized a $1 billion buyback plan, covering four preferred securities: STRC, STRF, STRD, and STRK, with STRC being the initial preferred buyback target.Strategy disclosed that the buyback funds would not come from its approximately $2.55 billion reserves, but may come from the $1.25 billion Bitcoin monetization plan approved during the same period. STRC traded this week at a high of $80, dipping below $85 on some trading days, below the long-term trading target of $99 to $100 set by Strategy. Peter Schiff stated that the price of STRC below $87 indicates that Wall Street is questioning the growth rate of Bitcoin.

Bitcoin Treasuries.NET posted on platform X that Michael Saylor of Strategy stated that if Bitcoin's long-term increase exceeds 3.3%, BTC capital gains can indefinitely fund STRC dividends. Even if BTC's annual increase is 0%, Strategy still has 31 years of dividend funding.