Strategy’s Michael Saylor outlines plan for perpetual Bitcoin buying

Michael Saylor has found his financial perpetual motion machine, or at least he thinks he has. The Strategy executive chairman revealed that issuing the company’s Variable Rate Series A Perpetual Stretch Preferred Stock, ticker STRC, at a rate equal to just 2.3% of the firm’s Bitcoin holdings transforms Strategy into a permanent net buyer of BTC. In English: even when the company sells some Bitcoin to cover dividend payments on STRC, the capital raised from issuing new preferred shares more than offsets those sales. The math works out so that Strategy always ends up with more Bitcoin than it started with, as long as Bitcoin appreciates at least 2.3% annually. How the STRC flywheel works STRC is a preferred stock with variable dividends that adjust monthly based on market conditions and Bitcoin’s performance. The current dividend rate recently climbed to 12.00% as of July 2026, making it an attractive instrument for income-focused investors who want crypto exposure without the full volatility roller coaster. Strategy issues STRC to raise capital, uses that capital to buy Bitcoin, and then pays dividends on the preferred stock. Some of those dividend payments get funded by selling sm...