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Strategy's Four Perpetual Preferreds Carry Yields From 8% to 12%, Backed by $2.25B Reserve Strategy Inc., the Michael Saylor-led company formerly known as MicroStrategy, has built out a four-share perpetual preferred stack aimed at yield-seeking investors looking for indirect bitcoin exposure.
The instruments rank senior to the common MSTR shares but are not directly collateralized by the company's bitcoin holdings. The lineup, branded internally as "STRXs," consists of STRF, STRC, STRK and STRD.
Per the company's disclosures, each carries a distinct dividend mechanism, payout cadence and seniority profile within the preferred-capital stack.
STRF, the Strife series, pays a fixed 10% quarterly dividend and sits at the top of the preferred liquidation queue.
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