Strife (STRF) Preferred Stock Trading Announcement

Strategy’s preferred stock Strife (STRF) will commence trading on Nasdaq, as announced by executive chairman Michael Saylor. This stock offers USD and BTC yields for investors.

Michael Saylor revealed that Strife yield-bearing preferred shares will begin trading on Nasdaq as of March 26. This new market launch was communicated through X.

> “Our new preferred stock STRF (‘Strife’) creates USD Yield for $STRF investors—and BTC Yield for $MSTR investors. It begins trading today on Nasdaq.”
> — Michael Saylor⚡️ (@saylor) March 26, 2025

This announcement comes shortly after Strategy added more BTC to its treasury, now exceeding half a million coins. STRF is the most recent addition to the company, with 500,000 shares issued in March.

Following Strategy’s recent developments, MSTR shares are again acting as a proxy for BTC performance, recently trading at a one-month high of $341.81, in anticipation of the STRF price discovery.

STRF is set to trade at $85 per share, indicating an 11.6% annualized yield, which may entice Strategy to acquire more BTC and potentially elevate market prices.

STRF as a Debt Instrument

The new preferred STRF stock intends to function as a bond, aiming to redirect funds into BTC. This asset operates as a debt instrument, offering dividends instead of yield. The introduction of Strife is aligned with Strategy’s goal to maximize BTC purchases regardless of price.

The issuance of Strife will be perpetual until Strategy chooses to discontinue it. The company reserves the right to retire STRF at face value of $100 or pay the predetermined dividend. STRF aims to attract fixed-income investors, including large institutions who find MSTR too volatile.

Strategy seeks to cover the promised dividend via inflows from other software activities, all while retaining BTC as a final warranty.

STRF will hold a $100 face value, establishing a minimal claim during liquidation. Unlike STRK, STRF is not convertible to common stock and, similar to STRK, does not confer voting rights.

To date, Strategy has issued general debt, STRK Perpetual Strike Series A, MSTR common stock, and preferred Series A shares STRF. In a liquidation scenario, priority will be given to debt holders, followed by STRF, STRK, and MSTR shareholders.

The issuance of Strategy’s assets aims to engage bond market investors, allocating more funds into BTC. Saylor expresses strong belief that the BTC treasury accumulated may be burned, never sold.

Currently, Strategy holds the largest BTC holdings with a long-term outlook. The company’s wallet details have not been publicly disclosed, but an entity has been identified by Arkham as likely belonging to Strategy. According to reports, Strategy now holds 506,137 BTC, which could also include assets held with Fidelity Custody. All BTC is held passively, with no plans announced for using coins for yield or operations.

Concerns have arisen regarding the company’s ability to service its debt, particularly related to the recent stock issuances and previous STRK issuance with an 8% yield. The STRK convertible shares aim to raise as much as $21 billion over time, contingent on market conditions.

Given the uncertain demand for raising funds, the issuance of STRF comes with higher promised yields. Strategy’s strategy also hinges on traders opting to remain within the company’s ecosystem as a proxy for BTC performance.

BTC is responsive to Strategy’s actions, particularly during new buying phases. Following the latest purchase, BTC rebounded to $87,785.38.