Strategy, the company led by Executive Chairman Michael Saylor, has launched its new Bitcoin-backed preferred stock, STRD, on the Nasdaq exchange today. This marks the third Bitcoin-secured stock in the company’s growing lineup aimed at offering fixed income backed by cryptocurrency. The new stock offers investors a 10% annual return, paid out quarterly if approved by the board.
STRD is officially called a 10% Series A Perpetual Preferred Stock. Unlike regular dividends, these payments are non-cumulative, if Strategy skips one, it won’t be paid later.
The shares opened at $89.88, slightly up from the initial offering price of $85, with a total of 11.76 million shares issued, helping the company raise nearly $979.7 million. That money will be used to buy more Bitcoin and support Strategy’s business growth.
According to Michael Saylors. “This product aims to provide a stable income stream while allowing investors to benefit from the growing adoption of Bitcoin,” said Saylor in a post on X. As of now, Strategy now holds 582,000 Bitcoin, which was bought for nearly $41 billion.
Before the launch, Strategy increased the offering from $250 million to nearly $1 billion. The company can redeem all STRD shares if less than 25% remain outstanding or due to certain tax events. Investors also have limited rights to redeem shares under specific conditions.
Strategy, previously known as MicroStrategy, has expanded into the largest corporate holder of Bitcoin. Its principal share, MSTR, outperformed major technology firms including Tesla, Amazon, and Microsoft, rising 26% in 2025.
Meanwhile, Bitcoin advocate Max Keiser praised Strategy and Saylor on X, calling him “Iron Mike” and saying the company is becoming the “Iron Bank” of the Bitcoin era. Keiser believes buying Bitcoin with low-interest dollars is a winning strategy.
STRD is part of Strategy’s plan to offer traditional investors ways to gain Bitcoin exposure with a steady income. It shows how the company is turning Bitcoin into mainstream investment products.
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