Key Takeaways
Michael Saylor announced his STRC preferred stock has hit $8.5 billion in assets under management in just nine months, proposing a shift to semi-monthly dividends at the Bitcoin 2026 conference on Friday.
"Saylor described STRC as engineered credit, designed to convert Bitcoin’s performance into steady monthly cash flows for conservative investors who need yield without volatility," according to his presentation.
The instrument now sees nearly $400 million in daily liquidity with volatility compressed to 2.9 percent, according to company data. After dipping to $80 million in February, monthly demand recovered to $1.5 billion in March and $3.5 billion in April, putting it on an annualized run rate of approximately $38 billion.
The move signals Strategy's intent to build a multi-layered financial ecosystem on top of Bitcoin, with STRC serving as the credit layer. A new ecosystem of "Layer 3" tokenized products built on STRC has already grown to $200 million in assets, with Saylor projecting it could reach $1 billion within eight weeks.
The growth has been driven by both institutional and retail demand. An estimated three million retail households now hold the instrument, representing 80 percent of the holder base. On the institutional side, both BlackRock and VanEck now count STRC as the third-largest position in their respective credit fund portfolios, according to the presentation.
Strategy created a $21 billion shelf registration for STRC, a move Saylor noted was 40 times larger than any previous credit instrument registration globally, enabling demand at an unprecedented scale.
Saylor outlined a three-layer framework, with Bitcoin as "Layer 1" digital capital, STRC as "Layer 2" digital credit, and a new wave of tokenized yield products as "Layer 3" digital money. He cited Apyx, Saturn, and Hermetic as early examples of projects building at this third layer.
The proposal to increase dividend frequency from monthly to semi-monthly will be decided by a shareholder vote closing in early June. If approved, the first semi-monthly payment would be on July 15. The company stated the rationale is to further tighten the instrument's trading range by increasing the number of dividend cycles per year.
This article is for informational purposes only and does not constitute investment advice.
