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MicroStrategy 将其永续延期优先股 (STRC) 比作公司的“iPhone 时刻”。这是一种新型金融工具,旨在通过浮动股息将股价维持在 100 美元,从而为比特币收购筹集资金。尽管该工具已成功为超过 35 亿美元的比特币收购提供资金,并提供了高收益率,但分析师警告称,风险在于公司治理和价格稳定性,而非股息覆盖率。如果市场对比特币的信心下降,价格锚定机制可能会失效,从而将风险转移给持有者,因为公司可以酌情削减股息,这可能会在不触发违约的情况下侵蚀该工具的价值。