Overview
Bitcoin remained above the psychologically important $60,000 threshold, trading at $60,748.8 as of 12:49 ET (16:49 GMT) on Saturday, June 27, 2026. The broader cryptocurrency market also posted modest gains, with Ether up 1.8% to $1,605.88, XRP rising 2.6%, BNB slipping 0.1%, Solana gaining 0.4%, Cardano up 0.3%, Dogecoin up 1.3% and TRUMP down 1.7%.
Strategy Inc Dividend Reset
Strategy Inc’s (NASDAQ:MSTR) perpetual preferred shares, ticker STRC, are scheduled to trade ex‑dividend on June 30. Holders of the shares before that date will receive a semi‑monthly dividend of $0.48 per share on July 15. The shares are currently trading near $73, which is approximately 27% below their $100 par value, translating to an effective yield of roughly 15%. Market participants note that the dividend reset is the more material event, with some expecting the company to raise the dividend rate from the current 11.5% to better align with market pricing.
Funding Model Scrutiny
The decline of STRC below par value has revived debate over Strategy’s capital‑raising approach, which relies on issuing preferred stock to fund additional Bitcoin purchases. Ripple Chief Executive Brad Garlinghouse, in a CNBC interview, described the model as “financial engineering rather than long‑term value creation,” pointing to the share price weakness as evidence that investor confidence in the financing strategy has eroded. He emphasized that his criticism targets the financing method, not Bitcoin itself.
Bitcoin Accumulation and Losses
Strategy has accumulated approximately 844,000 Bitcoin at an average purchase price of about $75,600 per coin. With Bitcoin trading around $60,750, the company’s unrealized paper loss exceeds $12 billion, according to data from BitcoinTreasuries. This loss surpasses the total market capitalisation of several well‑known cryptocurrencies, including Dogecoin, Cardano, Chainlink, Litecoin, and Bitcoin Cash, underscoring the scale of Strategy’s leveraged exposure.
Analyst Views
Some analysts suggest that Strategy should temporarily slow Bitcoin purchases and bolster its cash position, arguing that the depressed preferred‑share price makes raising fresh capital more difficult. Others contend that, despite reduced efficiency, the financing model remains viable and that long‑term performance will ultimately depend on Bitcoin’s price recovery rather than short‑term fluctuations in the preferred shares.