Strategy, Strive face balancing act between bitcoin buying and preferred stock dividends
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Bitcoin BTC $84,459.46 treasury companies like Strategy (MSTR) and Strive (ASST), whose purchases help maintain demand for the largest cryptocurrency, have a tough balancing act, according to Fidelity Digital Assets and analysts who spoke to CoinDesk.
Key facts
- James Butterfill, CoinShares’ head of research, said STRC alone, which pays a variable dividend currently around 12%, raised $7.5 billion during 2026 through late July
- U.S. spot bitcoin ETFs have attracted approximately $57 billion in cumulative net inflows and hold around $106 billion in assets, Butterfill said
- Strategy’s latest weekly update reported $193 million spent repurchasing STRC alongside purchases of 267 bitcoin, according to Butterfill
- Bitcoin BTC $84,459.46 treasury companies like Strategy (MSTR) and Strive (ASST), whose purchases help maintain demand for the largest cryptocurrency, have a tough balancing act, according
Summary
Bitwise expects ETFs to remain the larger demand source, with preferreds attracting yield investors. On the one hand, they need cash to fund their purchases. The securities, which sit between debt and common equity in the capital structure with regular payouts and no voting rights, have financed purchases of some 136,000 bitcoin in the 20 months since their introduction, Fidelity research analyst Zack Wainwright wrote in a Tuesday report. Strategy, the largest corporate bitcoin holder, is the dominant company in the market.