MicroStrategy spends another $900 million to buy Bitcoin. With MSTR down 50% this year, should you switch to stable, dividend-priority preferred stocks?

Bitcoin Reserve Strategy Pioneer MicroStrategy Strategy ( (original name MicroStrategy)) announced the purchase of an additional 10,624 bitcoins, increasing its holdings to 660,624 bitcoins, marking the largest purchase since the end of July. In the face of recent stock price slumps and the possibility of being removed from MSCI indices, MicroStrategy founder Michael Saylor has repeatedly emphasized that Strategy is a software company with a clear operational model and innovative spirit. In fact, aside from the common stock MSTR, MicroStrategy’s preferred shares have remained relatively stable. With a dividend yield as high as 10%, for investors who are hesitant to participate in the high volatility of bitcoin, this could be an alternative investment option.

Strategy Buys Another 10,000 BTC, Now Holds 660,624 Bitcoins

This time, Strategy raised funds by issuing:

10% Preferred Stock STRD, raising $34.9 million

Common Stock MSTR, raising $928.1 million

A total of $963 million was raised and used to acquire 10,624 bitcoins at an average cost of $90,615 per bitcoin. As of December 7, 2025, Strategy holds a total of 660,624 bitcoins, with a total cost of $4.935 billion and an average cost of $74,696 per bitcoin.

MicroStrategy as a Financial Innovation Company: How Are Preferred Shares Performing?

Amid recent stock price declines and the potential removal from MSCI indices, MicroStrategy founder Michael Saylor has repeatedly stressed that Strategy is a software company with a clear business model and innovative spirit. MicroStrategy has indeed brought many new products to the bitcoin-related market in terms of financial innovation. The company has issued five different types of preferred shares so far, one of which is a euro-denominated STRC aimed at European qualified investors. Chain News has compiled the dividend yields and recent performances of MSTR common stock and preferred shares as follows:

Ticker Symbol Current Price ( 12/8 Closing Price ) Annual Dividend Yield 3-Month Return 1-Year Return MSTR 183.69 0% -44% -53% STRD 80.05 10% 4% -2% STRK 85.6 8% -6% 14% STRC 98.53 10.75% 4% 13% STRF 110.02 10% 1% 35%

The earliest issued STRK has the feature of being convertible to common stock MSTR, with a conversion price of $1,000 and a dividend of 8%.

STRF enjoys a 10% annual dividend, paid quarterly. If the dividend cannot be paid in a certain period, the unpaid portion will be accumulated as “compounded dividends” (, and the annual interest rate will increase by 100 basis points (i.e., 1%() each quarter from the original 10%, up to a maximum of 18% per annum. It has the highest repayment priority. The current share price is above $110, and since issuance, the return rate is 35% )(including dividends().

STRD also has a 10% annual dividend, but the dividends are non-cumulative, meaning the company can decide not to pay dividends and will not make up for it later. STRD’s lower repayment priority is directly reflected in its price, currently only $80. However, since dividends are calculated based on the $100 nominal principal, if purchased now at $80, the annualized yield can reach 12.5%.

The newly issued STRC boasts monthly dividends at a floating rate. The first dividend rate was set at 9%, and to maintain the STRC price around $100, the dividend rate has been increased to 10.75%.

)Creating Stable Cash Flow with Bitcoin: How Should Investors Choose Between MicroStrategy’s Four Preferred Shares?(

Full Disclosure of Bitcoin and USD Reserves, mNAV Continues to Hover at a Low of 1.17

Aside from common stock MSTR, MicroStrategy’s preferred shares have remained relatively stable. Combined with a dividend yield as high as 10%, this may be an alternative investment choice for investors unwilling to participate in bitcoin’s high volatility.

MicroStrategy recently announced the establishment of a $1.44 billion reserve fund to pay future dividends and interest, easing concerns. According to its official website, its USD reserves are sufficient to pay 21.3 months of dividends, and the current value of the bitcoin held by the company is $59.7 billion, which is enough to pay 73.6 years of dividends. The company’s mNAV ) (current share price to the value of bitcoin held) ( is 1.17x, still above 1.

)Bitcoin Reserve Pioneer MicroStrategy Acts: $1.44 Billion Secures Dividends—Are Investors Reassured?(

Note: MicroStrategy’s official calculation of mNAV = Enterprise Value ÷ Bitcoin NAV, where Enterprise Value = Market Cap + Total Liabilities ) (including convertible debt and preferred stock Pref(), including liabilities. This method differs from other sites and reflects the company’s actual situation more accurately.

)MicroStrategy MSTR as the New Bitcoin Indicator: mNAV Premium Ratio and Tracker Website Introduction(

This article MicroStrategy Drops Another $900 Million on Bitcoin: With MSTR Down 50% This Year, Should You Switch to Stable Dividend Preferred Shares? first appeared on Chain News ABMedia.