#Strategy Shifts to Preferred Stock for Bitcoin Purchases


Strategy will transition from common #stock sales to preferred stock offerings for acquiring $BTC, CEO Phong Le announced on Bloomberg's "The Close" Wednesday. The #Bitcoin treasury company plans to scale back equity capital raises in favor of preferred capital.


Stretch (STRC), Strategy's perpetual preferred stock that launched in July, targets investors seeking stable returns. The product offers an annual dividend exceeding 11%. STRC represents the company's fourth perpetual preferred offering, designed specifically to finance Bitcoin acquisitions without diluting the stock price through new share issuances.


Le acknowledged that the preferred stock will require marketing efforts and time to gain traction with traders. He expects Stretch to become a major product for the company throughout 2026.


STRC reclaimed its par value of $100 at Wednesday's close for the first time since mid-January. Le called this development the "story of the day." The stock had fallen below $94 earlier this month as Bitcoin dropped under $60,000.


With #STRC #trading at par, the price Strategy designated as its minimum threshold, the company can resume share offerings to fund additional Bitcoin purchases. Bitcoin traded mostly flat over 24 hours around $66,800, down from an intraday high above $68,000.

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February 12, 2026 at 12:19 PM
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