Strategy’s STRC shares fall below their $100 par value

• On May 28, 2026, Bitcoin crashed amid an escalation of the conflict between Iran and the United States.
• Strategy’s preferred shares closed below their established par value of $100.
• The company will likely be forced to raise the dividend rate, increasing pressure on its reserves.
• Strategy also redeemed $1.5 billion in bonds and transferred part of its Bitcoin to Coinbase.

Strategy’s preferred shares (STRC) closed below the established $100 par value on May 28, 2026. In pre-market trading, they recovered part of the decline but still failed to move back above that level, according to Yahoo Finance.

As a reminder, STRC is a key product for Strategy and a central element of the company’s business strategy. These are perpetual preferred shares with a floating dividend rate.

The idea is that an investor buys STRC, while Strategy channels the proceeds into Bitcoin, increasing the amount of the asset per diluted share. Previously, the company mainly used debt instruments.

Strategy introduced them in July 2025. According to the official website, STRC’s market capitalization stands at $10.3 billion. These securities account for $1.7 billion in debt burden. Dividends are paid monthly, with the current rate at 11.5%.

The par value of STRC is around $100. On May 28, 2026, these securities fell below that established level, likely due to the Bitcoin crash amid renewed strikes between the United States and Iran.

STRC share price on Nasdaq. Source: Yahoo Finance.

The fall of STRC quotes below the established par value means Strategy will be forced to raise the dividend rate. This creates additional pressure on the company’s reserves.

Earlier, the firm redeemed $1.5 billion in convertible bonds using cash. The remaining $871 million is enough to cover dividend obligations for six months.

Before that, the company’s management had stated that it could sell part of its Bitcoin to maintain payments, in order to avoid issuing new common shares and diluting the asset share.

Amid the decline in STRC quotes, information emerged that Strategy had transferred part of its Bitcoin to the Coinbase exchange, which may indicate either rebalancing or a potential sale. It is also possible that this is related to a potential increase in debt burden in the future.

Another factor putting pressure on STRC is competition. In November 2025, Strive announced its SATA preferred shares. They differ from STRC by having a narrower fluctuation range and a high initial dividend rate — 12% compared with 9% for Strategy’s shares.

Despite minor fluctuations on the morning of May 28, the quotes of these securities remain around $100, according to Yahoo Finance. Moreover, the company also stated that dividend payments would become daily from mid-June 2026.

See also: "US Treasury Secretary reports seizure of Iranian crypto wallets worth $1 billion"

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