Strategy’s Preferred Shares Carry $725 Million in Annualized Dividends

Strategy’s preferred shares, including STRC, carry about $725 million in annualized dividend expenses, while the company’s Bitcoin holdings were 4,947 BTC above a modeled total without first-half STRC-funded purchases.

Strategy held 848,250 Bitcoin (BTC) as of Monday. The modeled scenario put its holdings at 843,303 BTC without purchases funded through STRC in the first half.

The preferred-share financing model helped Strategy add nearly 100,000 BTC in the first half. Annualized dividends on STRC and other preferred shares were estimated at about $725 million, equivalent to roughly 8,740 BTC using a Bitcoin price of about $83,000.

The financing structure adds complexity to Strategy’s capital structure.