STRK Preferred Stock Outperforms Bitcoin and S&P 500, Raises $59.7M in Largest ATM Offering
Strategy (MSTR)’s perpetual preferred stock, STRK, continues to demonstrate strong market performance and investor appeal, surpassing both bitcoin and the S&P 500 since its February introduction. The security combines an attractive fixed dividend with exposure to bitcoin accumulation efforts.
According to a recent SEC filing and information from Twitter account DogCandles, STRK generated $59.7 million in proceeds from its largest weekly at-the-market (ATM) issuance to date. These funds were immediately allocated to bitcoin purchases, adding approximately 621,555 new STRK shares into circulation. The company retains approximately $20.79 billion in ATM capacity available for further issuances.
Executive Chairman Michael Saylor remains committed to expanding Strategy’s bitcoin holdings as the cryptocurrency trades above $100,000, aiming to revisit its January all-time high near $109,000. Following the latest purchase, total bitcoin holdings now stand at 576,230 BTC.
The BTC yield—a key performance indicator measuring year-to-date growth in bitcoin exposure per diluted share—currently sits at 16.3%, signaling solid appreciation in per-share bitcoin holdings.
This STRK issuance accounts for just under 9% of total proceeds raised from the ATM program for Strategy’s common stock, which has accumulated $705.7 million so far, highlighting STRK’s growing role in financing bitcoin acquisitions.
STRK pays a fixed 8% annual dividend based on its $100 liquidation preference, yielding an $8.00 payout per share annually. The current effective yield is roughly 8.1%, which varies inversely with the stock price.
Since its launch on February 10, STRK has appreciated 16%, outperforming bitcoin’s 10% gain and the S&P 500’s 2% decline in the same period.
Data from Strategy’s dashboard reveals that STRK maintains a 44% correlation with MSTR common stock, but higher correlations of 71% and 72% with bitcoin and the SPY ETF, respectively, emphasizing its hybrid nature that blends equity features with bitcoin-linked exposure.
