MicroStrategy Reroutes $335.5 M to Cash as STRC Preferred Plunges to $82.50
MSTR•Analysts flagged MicroStrategy’s $1.2 B annual dividend obligations after its USD reserve fell 38% year-to-date and STRC preferred stock plunged to $82.50, 17.5% below par, cutting coverage to 14 months. MSTR had already rerouted fresh capital—raising $335.5 M via stock and buying just 520 BTC—to bolster its $1.4 B reserve.
1. Rising Dividend Obligations
Analysts warned that MicroStrategy’s annual dividend obligations will reach $1.2 B in 2026, nearly four times higher year-on-year, while its USD reserve has plummeted 38% from early-year levels.
2. Preferred Stock Pressure
STRC variable-rate preferred shares slid to a record low of $82.50, 17.5% below par, reducing dividend coverage from over seven years to about 14 months and intensifying funding strain.
3. Pivot to Cash Reserves
Over the two weeks ending June 22, MSTR raised $335.5 M through a common stock offering and redirected most proceeds into its USD reserve, lifting it to $1.4 B.
4. Slowed Bitcoin Acquisitions
During the week of June 22, MicroStrategy acquired only 520 BTC for roughly $35 M, marking a deliberate slowdown in Bitcoin purchases to prioritize liquidity rebuilding.
