Strategy’s (MSTR) dividend-paying preferred stock, STRC, closed Tuesday at $91.79, its third lowest since trading began in July 2025, amid falling bitcoin prices and debt concerns.
The only lower closes occurred in two sessions later that month, when STRC fell to $88.60. The stock was initially valued at around $90 in its debut.
STRC was designed to trade as close to its face value of $100 as possible. However, it has remained below this level for an extended period and has not traded at $100 since May 15, last month’s ex-dividend date.
Historically, STRC would trade close to its par value of $100 prior to the ex-dividend date, the cutoff date after which new buyers are no longer entitled to the upcoming dividend. Once the stock went ex-dividend, it often declined by approximately the dividend value before gradually returning toward par, but on June 15, STRC never reached par.
Several factors appear to be contributing to STRC’s continued weakness.
First, the stock has historically traded in tandem with bitcoin, and bitcoin remains under pressure, hovering around $65,000 and about 50% below its October all-time high.
