Foreign media report that Strategy has changed its preferred stock, STRC, to accrue dividends daily—表面上是调整支付节奏，核心仍是让这类证券更稳定地服务公司的比特币财库体系。这并非单纯提高收益，而是为了改善优先股交易表现，支持后续融资。
STRC has adjusted its dividend schedule multiple times.
Earlier this year, the strategy tested a faster dividend distribution schedule. In June, STRC changed from monthly to biweekly dividends. The company stated that this move was intended to stabilize security prices, reduce volatility caused by payment cycles, and improve liquidity and reinvestment efficiency.
The article states that STRC is not a standalone yield product separate from Bitcoin holdings, but rather an integral part of Strategy's overall capital structure. A closer linkage is emerging among preferred shares, U.S. dollar reserves, and Bitcoin assets.
Preferred shares relate to treasury financing.
According to Coinpaper, Strategy can raise capital by issuing preferred securities while maintaining cash reserves to cover dividends and interest payments. In certain circumstances, the company may even sell Bitcoin to fulfill these obligations.
This means that whether products like STRC can sustain investor demand is crucial to the smooth operation of the entire Bitcoin treasury model. STRC was originally designed to trade as close as possible to its $100 face value, but its price fell significantly below this level earlier this year.
- Increase the STRC dividend rate to 12%.
- Increase the size of U.S. dollar reserves
- Initiate a more substantial buyback program
The article states that, over the last three disclosure periods, the company has collectively spent nearly $490 million to repurchase STRC, with amounts of $176 million, $139 million, and $174 million, respectively.
Daily accrual does not mean higher returns.
The focus of this proposal is on payment timing, not on increasing total returns. If approved, investors’ regular dividends will be accrued daily based on calendar days, rather than being confirmed in a lump sum after a longer period.
The article argues that this approach helps reduce price distortions around traditional dividend record and payment dates. If preferred stock prices are more stable, it theoretically becomes easier to attract investors who favor fixed income, and it also supports the company’s ability to issue similar products in the future.
However, daily accrual does not reduce the actual funding cost of the Strategy. The company still needs to cash out to pay preferred dividends.
Bitcoin sold in 2026
According to the framework disclosed in the second quarter, the company held $3.75 billion in U.S. dollar reserves, which, at the time, covered approximately 2.1 years of dividend and interest payments.
Meanwhile, the company disclosed that it sold approximately $218 million in Bitcoin in 2026 to help fund preferred stock dividends. Based on this, the article suggests that Strategy is shifting from a purely “buy and hold” Bitcoin model toward a more active balance between Bitcoin, cash, debt, and preferred stock.