STRC Hits the Snooze Button: Strategy's Dividend Hold Meets Bitcoin Buying Cooldown

For the first time since launch, Strategy (formerly MicroStrategy) kept its Stretch (STRC) preferred share dividend steady at 11.5% for April 2026. The yield has been climbing like a degen chasing alpha, but this month someone finally lifted their finger off the throttle.

The perpetual preferred share debuted last July at 9% annual dividend. Strategy raised the rate every month since then, hitting 11.5% in March after a 25 basis-point bump from February's 11.25%. That's eight consecutive raises for those keeping score at home—or eight months of "we're definitely not paying you to hold this" according to bond math purists.

"STRC's dividend rate is adjusted monthly to encourage trading around STRC's $100 par value and to help strip away price volatility," according to the description. Translation: please don't treat this like a yield farm and expect the APY to keep compounding forever. We've all seen how that movie ends.

The hold arrives as Strategy also paused its Bitcoin buying. The firm made no BTC purchases last week, ending a 13-week buying streak. After 13 straight weeks of "how much can we buy before someone notices we're the entire volume," the BTC shopping spree took a breather. Even the most dedicated accumulators need a moment to check their spreadsheets.

It still holds 762,099 BTC at an average acquisition price of roughly $75,694 per coin. The firm is sitting on unrealized losses of more than $5.5 billion, per SaylorTracker. To put that in perspective: they're down more than the GDP of some small countries, but who's counting when you've got the metaverse mission alive and well?

Nonetheless, the largest corporate Bitcoin holder revealed a $42 billion at-the-market (ATM) fundraising program, split evenly between common stock and STRC. Because nothing says "we're serious about Bitcoin" quite like filing paperwork to potentially sell another $21 billion worth of equity. The ATM machine just keeps printing.

STRC has found significant traction with retail holders. CEO Phong Le disclosed that retail investors now hold roughly 80% of STRC. That concentration highlights how STRC