MicroStrategy’s Preferred Stock Beats Bitcoin Over Past Year

A one-year comparison shows MicroStrategy’s Strategy Preferred Stock, known as STRC, has significantly outperformed Bitcoin. Between August 14, 2025, and August 14, 2026, STRC rose 9 percent while Bitcoin fell 47 percent over the same period. STRC offers investors a 12 percent annual dividend, though its price recently dropped below 100 dollars, prompting MicroStrategy to sell 1,690 Bitcoin to fund share buybacks.

Other Preferred Instruments Also Hold Up Better

Beyond STRC, several other MicroStrategy preferred stock offerings also outperformed Bitcoin during the same stretch, even though all of them posted some level of decline. This pattern suggests that while the broader crypto market has struggled, these fixed-income style instruments have offered relatively more stability compared to holding Bitcoin directly.

Common Stock Takes a Bigger Hit

MicroStrategy’s common stock, traded under the ticker MSTR, told a very different story, falling 75 percent over the same one-year period. This sharp decline highlights the contrast between the company’s equity performance and its preferred stock offerings, which are structured to prioritize dividend payments over share price appreciation.

Concerns Grow Over MicroStrategy’s Preferred Stock Stack

Some critics have raised concerns about the size of MicroStrategy’s preferred stock obligations, which now total around 15 billion dollars. There are warnings that this growing stack of preferred shares, along with their dividend commitments, could put pressure on the company’s broader Bitcoin accumulation strategy, often referred to as its Bitcoin flywheel model, going forward.