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Crypto bank Anchorage Digital said it holds perpetual preferred shares of Strategy STRC on its balance sheet. The information was disclosed by co-founder and CEO Nathan McCauley in a post on X. The company did not reveal the size of the position or the date of acquisition.
STRC trades on Nasdaq and is classified as perpetual preferred stock, The Block reported. The securities currently pay dividends of 11.25% annually with monthly cash distributions.
McCauley highlighted the strategic alignment between Anchorage and Strategy, the largest public company with a Bitcoin treasury. According to him, institutional players are increasingly structuring their balance sheets around BTC.
According to Strategy, STRC was issued as a high-yield instrument designed to generate short-term income. Historically, proceeds raised through STRC were used to purchase Bitcoin. This allowed investors to earn fixed income while gaining indirect exposure to the company Bitcoin accumulation strategy.
As of Monday, Strategy held 717,722 BTC. At current prices, that amounts to approximately $46.8 billion, making the company the largest corporate holder of Bitcoin in the world.
McCauley wrote: "When a company that builds Bitcoin infrastructure invests capital alongside a company that engineered a Bitcoin treasury strategy… it is a signal." Strategy Executive Chairman Michael Saylor reposted the message, commenting: "Conviction is contagious."
Anchorage disclosure came shortly after Tether invested $100 million in the company. The deal valued Anchorage Digital at $4.2 billion and strengthened its position as a regulated crypto bank.
Anchorage Digital Bank also serves as the issuer of Tether US-focused stablecoin USAT. This further connects custody infrastructure, stablecoins and Bitcoin treasury strategies.
Following the announcement, Strategy shares showed elevated market activity as investors continued to monitor signals of institutional backing for its BTC strategy. During the same period, Bitcoin remained resilient amid capital inflows into corporate treasuries.
STRC offers an annual yield of 11.25% with monthly payouts. By comparison, yields on 10-year US Treasury bonds remain significantly lower, while most traditional preferred shares of major corporations offer single-digit returns.
The instrument is directly linked to a company holding 717,722 BTC worth about $46.8 billion. This creates a dual profile: fixed income combined with indirect exposure to Bitcoin volatility and the company accumulation strategy.
Unlike direct BTC ownership, STRC provides cash flow but retains corporate structure risk and exposure to Strategy market valuation. Anchorage investment suggests that institutional participants are willing to consider hybrid instruments as a way to generate yield with controlled exposure to Bitcoin.
Read also: Strategy doubles down on Bitcoin despite unrealized losses