Three Companies Add Strategy’s STRC to Corporate Treasury as Shares Return to Par
Three companies have disclosed positions in Strategy's preferred equity instrument, STRC, as the security recovered to its $100 par value.
Quick overview
- Three companies, including Prevalon Energy and Anchorage Digital, have disclosed positions in Strategy's preferred equity instrument, STRC, as it recovered to its $100 par value.
- STRC, which carries an 11.25% annual dividend, allows Strategy to issue new shares to acquire additional bitcoin when trading at or near par.
- The instrument has grown to approximately $3.4 billion in total size, with significant new shares issued in January 2026.
- The connection between STRC's price level and Strategy's acquisition capacity is a key focus for investors monitoring the company's financial activities.
Three companies have disclosed positions in Strategy’s preferred equity instrument, STRC, as the security recovered to its $100 par value, a threshold that allows the company to issue new shares and use the proceeds to acquire additional bitcoin.
Prevalon Energy and Anchorage Digital made their announcements during the “Bitcoin for Corporations” track at Strategy World 2026, held in Las Vegas this week. Benjamin Hunnewell, CFO of Prevalon Energy, described the move as part of a broader capital management strategy. Manuel Andreani, Head of Prime Sales at Anchorage Digital, confirmed the firm holds STRC on its balance sheet and noted that the allocation aligns with its position in regulated bitcoin infrastructure. OranjeBTC, a Brazilian bitcoin treasury company, separately confirmed a similar position at the same conference.
STRC — formally the Variable Rate Series A Perpetual Stretch Preferred Stock — carries an 11.25% annual dividend paid monthly and ranks senior to Strategy’s common equity. Its variable dividend mechanism was specifically designed to keep the share price near par even when bitcoin prices fluctuate. Strategy reported the instrument has grown to roughly $3.4 billion in total size, with over $421 million in new shares issued in January 2026 alone.
According to STRC.live, the security briefly touched $100 during Wednesday’s session, with an estimated 22 bitcoin purchased through STRC-related activity. It was again at par in pre-market trading Thursday morning.
When STRC trades at or near par, Strategy can sell additional shares through at-the-market offerings and deploy the proceeds toward bitcoin. That connection between the instrument’s price level and the company’s acquisition capacity makes the return to par a closely watched data point for investors tracking Strategy’s balance sheet activity.
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