Michael Saylor, co-founder and Executive Chairman of Strategy (formerly MicroStrategy), announced that their new Bitcoin-backed preferred stock, STRD, has started trading on Nasdaq. In a post on X, Saylor said that this is the third in their series of Bitcoin-secured stocks, meant for investors looking for fixed income with Bitcoin as a backup.
STRD is a 10% Series A Perpetual Preferred Stock. That means, it offers a 10% annual return in dividends, paid quarterly, if approved by the company’s board. These dividends are non-cumulative, so if a payment is skipped, it won’t be paid later.
STRD stock is trading at $89.88, up 0.42%. Initially priced at $85 per share , 11.76 million shares were issued, with Strategy expecting to raise approximately $979.7 million. The funds raised will be used to buy more Bitcoin and support business operations.
Investors may redeem their STRD shares under certain conditions. Strategy also retains the right to redeem all shares if less than 25% remain outstanding or in the case of specific tax-related events. Strategy has grown into a $100 billion company thanks to its continuous Bitcoin purchases. In 2025 alone, its main stock (MSTR) has risen by 26%.
