Cryptocurrency bank Anchorage Digital announced that it has Strategy preferred stock on its balance sheet – specifically an instrument marked as STRC. The information was confirmed by Nathan McCauley, co-founder and CEO of the company, in a post on the X platform. And he said it directly, without beating around the bush. Is this a signal that means the end of the BTC “promotion”?
What is STRC from Strategy?
STRC is a Nasdaq-listed perpetual preferred security instrument designed as a “short-term, high-yield” security. It pays an 11.25% annual dividend, adjusted monthly in cash. Funds raised from the STRC issuance have historically been used to purchase Bitcoin by Strategy – making this instrument an indirect vector of BTC exposure for investors looking for regular cash flows.
For context: Strategy currently holds 717,722 BTC valued at approximately USD 46.8 billion. Yes, you read that right.
Anchorage declined to disclose the size of the position in STRC or when it was acquired. But the very fact of disclosing information (by the CEO, publicly) says more than many quarterly reports.
Institutions are building around bitcoin
It is difficult to provide a more concise diagnosis of market momentum.
Anchorage on the offensive
This is not an isolated movement. Anchorage Digital earlier this month announced a $100 million equity investment from Tether, which valued the bank at $4.2 billion. The partnership of both entities has an operational dimension – Anchorage Digital Bank serves as the issuer of the USAT stablecoin, targeted at the American market.
Additionally, Bloomberg reported in January that Anchorage was considering raising between USD 200 million and USD 400 million before a potential IPO, planned for next year.
The picture comes together: a regulated cryptocurrency bank, a billion-dollar valuation, a strategic investor in the form of Tether and exposure to the bitcoin treasury of the largest player on the market. Anchorage is not only talking about the future of bitcoin – it is starting to co-create it.
