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In his interview with Chase, CJ noted that raising the dividend rate on STRC higher than 12% may result in diminishing marginal demand. This was given as the rationale as to why buybacks are favored over a rate increase. Strategy are concerned that raising STRC to 12.25% or higher may signal distress. This highlights just how impressive Strive's new IPO for SATS really is. SATS offers 15% (and even higher effective rate at IPO). Despite Strategy's concerns, Strive were able to find $700m+ of fresh demand at the higher dividend rate. Extremely impressive.

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