Strategy Launches STRD Preferred Stock on Nasdaq, Eyes $1B for Bitcoin Expansion
Strategy (MSTR) has rolled out its third bitcoin-backed preferred equity instrument, STRD, which began trading on the Nasdaq Wednesday and closed the day with a modest 0.24% gain.
Officially named the 10% Series A Perpetual Stride Preferred Stock, STRD offers investors a fixed 10% annual dividend, the highest yield among the firm’s capital offerings. Unlike prior instruments STRF and STRK, STRD is non-convertible and non-cumulative, meaning dividend payments are discretionary and do not accumulate if missed.
The company aims to raise nearly $1 billion through the sale of 11.76 million shares at $85 apiece, with expected net proceeds of $979.7 million earmarked for general operations and additional bitcoin purchases.
Interest in the product appears strong, including from insiders: Board member Jarrod Patten disclosed the acquisition of 5,000 STRD shares, adding to his existing holdings in both MSTR common stock and the previously issued STRF preferred series.
The launch of STRD marks another step in Strategy’s broader mission to convert traditional capital into long-term bitcoin exposure — a financial innovation play that continues to distinguish the company from its peers.
