Strategy Preferred Stock STRC Correlation with Bitcoin Hits All-Time High

On June 26, CoinFeed reported, citing CoinDesk, that the 90-day correlation between Strategy's perpetual preferred stock STRC and Bitcoin's price has climbed to nearly 0.70, the highest level since the product's launch in July 2025. This month, STRC dropped 23% to $76, while BTC fell nearly 20% to below $60,000, with both weakening in tandem. This increasingly tight correlation diminishes STRC's appeal as a relatively stable income instrument for investors seeking fixed income. STRC is designed as a hybrid product: a variable-rate perpetual preferred stock with a face value of $100, paying monthly cash dividends at a current annualized yield of 11.5%. When the share price exceeds par value, the company can raise funds through at-the-market (ATM) offerings to purchase Bitcoin. However, STRC is currently far below par, limiting the company's ability to finance coin purchases.