Preferred Stock • Bitcoin Strategy • Fixed Income
$STRF
MicroStrategy's 10% Series A Perpetual Strife Preferred Stock
Featured Analysis
Watch our detailed analysis of STRF's market performance and future outlook
Current Market Performance
As of June 2, 2025, STRF is trading at $104.761, which is above its liquidation preference of $100, suggesting strong investor demand for its fixed dividend. The stock has shown active trading with a 52-week range of $85.05 to $104.47.
Price Metrics
- Current Price: $104.761
- Previous Close: $103.59
- Day's High: $106.39
- Day's Low: $103.59
Volume & Range
- 52-Week Range: $85.05 - $104.47
- Average Daily Volume: 242,769 shares
- Recent Volume: 503,041 shares
- Year-to-Date Return: 9.33%
Dividend and Features
STRF offers a fixed dividend of 10.00% per annum on a stated amount of $100 per share, payable quarterly in cash starting June 30, 2025. If dividends are not paid, they compound at 18.00% per annum.
Key Features
- 10% fixed annual dividend ($10 per share)
- Quarterly cash payments
- 18% compound rate on missed dividends
- $100 liquidation preference
Conversion Rights
- Convertible to Class A common stock (MSTR)
- 0.0001 shares per $100 stated amount
- Redemption starting March 25, 2035
- Adjustable conversion rate
Market Context and Comparative Analysis
STRF operates within the preferred stock market, offering a fixed-income security with a high dividend yield compared to traditional bonds and other preferred stocks.
Comparative Yields
- STRF: 10.00% fixed dividend
- STRK (MicroStrategy's other preferred): 8.00%
- U.S. Treasury bills: ~4.2%
- Current yield at $104.761: ~9.55%
Market Sensitivity
- Interest rate sensitivity
- Bitcoin price correlation
- Fixed-income market conditions
- Supply impact from ATM program
Recent Developments
On May 22, 2025, MicroStrategy announced a $2.1 billion At-The-Market (ATM) Program for STRF, allowing the issuance of additional shares, which could affect supply and price. The initial offering raised about $711.2 million, intended for Bitcoin purchases and working capital.
Key Developments:
- March 2025: Initial public offering at $85.00
- May 2025: $2.1 billion ATM Program announcement
- Initial raise of $711.2 million
- Proceeds for Bitcoin acquisition
- Michael Saylor's X post highlighting dual appeal
Market Analysis
Current Performance
Fixed Income
10% Annual Dividend
Bitcoin Strategy
MicroStrategy's Vision