Strategy’s STRC perpetual preferred stock returns to $100, may trigger more bitcoin buying

• Stretch (STRC), the perpetual preferred equity issued by bitcoin treasury company Strategy (MSTR) reclaimed its $100 par value in pre-market trading on Wednesday.
• At that level, Strategy may sell more of the stock through at-the-market offerings to fund further BTC purchases.
• STRC, which pays an 11% dividend, last traded at par between Nov. 4 and Nov. 13.

Stretch (STRC), the perpetual preferred equity issued by Strategy (MSTR), the largest corporate holder of bitcoin BTC$91,227.36, reclaimed $100 in pre-market trading for the first time since early November, opening the doors for sales to fund more BTC purchases.

STRC last traded at that level between Nov. 4 and Nov. 13, before falling to a low near $90. The return to par allows Strategy to issue shares through at-the-market (ATM) offerings tied to the product.

The equity is branded as short-duration, high-yield credit. It currently pays an 11% annual dividend, distributed monthly in cash. The dividend rate is reset monthly to encourage trading around the $100 par value and to help reduce price volatility.

Since inception, STRC has risen 16% and offers an effective yield of roughly 11%. The annualized yield is calculated as the current dividend divided by the STRC share price.

MSTR raised the dividend rate on STRC to 11% at the start of the year, marking the fifth dividend increase since the product was introduced in July. The company's common stock is up 4% in pre market trading to $165, while STRC is up 0.03% at $100.

• KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
• This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
• Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
• Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
• Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.

• BNB fell below $900 amid a broader market decline, even after recent technical upgrades and ecosystem developments on the BNB Chain.
• The BNB Chain's layer-2 network, opBNB, recently completed a major upgrade, the Fourier hard fork, which doubled transaction throughput and cut block times in half.
• To regain bullish momentum, BNB needs to break out of its current downtrend and reclaim resistance levels near $906, otherwise it may face further pressure toward $892.

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