STRC’s correlation with Bitcoin reaches historical highs, weakening its stable yield characteristics.

BlockBeats News, June 26 – The 90-day correlation coefficient between Strategy’s perpetual preferred stock STRC (Stretch) and Bitcoin has risen to nearly 0.70, hitting a new high since its launch in July 2025, meaning its price movements are increasingly tracking Bitcoin’s volatility, weakening its appeal as a relatively stable yield product.

Data shows that STRC has fallen 23% this month to $76, while Bitcoin has dropped nearly 20% over the same period, breaking below $60k. STRC has a face value of $100 and a floating dividend mechanism, with an annualized dividend yield of 11.5%. The company originally hoped to maintain the stock price close to face value, continuously issuing additional shares to raise funds for buying more Bitcoin.

However, since STRC is currently trading well below face value, Strategy’s ability to raise funds through additional issuance to purchase Bitcoin is limited. Meanwhile, the company has recently sold small amounts of Bitcoin to pay dividends, which stands in sharp contrast to its long-held strategy of "never selling Bitcoin."

Market views are divided. Some investors believe the current discount on STRC offers an investment opportunity combining high yield with potential capital appreciation. Others worry that if the downturn persists, it could weaken Strategy’s financing capacity and affect its model of continuously accumulating Bitcoin through capital markets.