Castle lets users convert STRC dividends into Bitcoin

Castle has opened its automated financial platform to individual users, allowing customers to convert any portion of the 12% annual dividend paid by Strategy’s STRC preferred stock into Bitcoin. Summary Castle users can receive STRC dividends in cash, Bitcoin, or a combination of both. STRC carries a 12% variable annual dividend rate for September record dates. Strategy pays the dividend in cash before Castle converts the selected portion into Bitcoin. Castle previously limited its automated Bitcoin financial services to businesses and nonprofit organizations. Castle said in a Tuesday statement that personal account holders can choose how much of each STRC dividend payment they want to receive in cash and how much should be converted into Bitcoin. Castle automates STRC dividend conversions Under the new account structure, customers can keep the entire payout in cash, convert all of it into Bitcoin, or set a percentage between the two options. Once selected, the allocation runs automatically at each dividend payment unless the user changes the instruction. Strategy pays the STRC dividend in cash, while Castle handles the subsequent Bitcoin purchase based on the percentage set by the...