NEW YORK, Jan 4, 2026, 5:05 PM ET — Market closed
- Strategy (MSTR) ended Friday up about 3.5%, snapping back after a rough end to 2025 for crypto-linked equities.
- A regulatory filing showed the firm lifted the dividend rate on its variable-rate STRC preferred stock to 11% and declared a January cash payout.
- Investors are also weighing a Bloomberg report that the company is likely to swing to a multibillion-dollar fourth-quarter loss tied to bitcoin’s decline.
Strategy Inc shares rose 3.5% on Friday to $157.16, after the bitcoin-treasury company lifted the annual dividend rate on its variable-rate preferred stock to 11% from 10.75% and declared a $0.916666667 per-share cash dividend for January, a filing showed.
The tweak matters now because Strategy’s equity has increasingly traded as a levered bet on bitcoin, while the company’s funding stack has grown more complex. Investors have been watching how much cash it commits to dividends and interest as it continues to pitch itself as a gateway into crypto exposure through public markets.
A Bloomberg News report on Friday said Strategy is likely to report a multibillion-dollar fourth-quarter loss as the value of its bitcoin holdings fell, swinging from a $2.8 billion profit in the prior quarter. “There was this one-time pop, but that is a different story in this quarter,” Aaron Jacob, an associate professor, said in the report. Bloomberg Law
The higher STRC payout is on a perpetual preferred stock — a security that typically ranks ahead of common shares for dividends and has no maturity date. Strategy’s preferred shares have become part of the company’s broader financing playbook, offering investors yield in exchange for taking on exposure to the firm’s crypto-heavy balance sheet.
Bitcoin was last at about $91,286, up roughly 0.9% from its prior close, setting the tone for crypto-sensitive stocks ahead of Monday’s session.
Crypto-linked equities broadly outperformed on Friday. Coinbase rose about 4.6%, while bitcoin miners Marathon Digital and Riot Platforms jumped about 10% and 12%, respectively.
But the downside scenario is straightforward: if bitcoin slides again, Strategy’s earnings and balance sheet optics can deteriorate quickly, and the stock’s moves tend to amplify swings in the underlying crypto market. Investors also remain sensitive to any sign the company needs to raise additional capital on less favorable terms.
For Monday, traders will be looking for direction from bitcoin’s weekend pricing and any fresh disclosures around Strategy’s capital structure and crypto holdings. The stock’s sharp Friday range — roughly $150 to $161 — underscores how quickly positioning can shift when crypto sentiment turns.
The next hard catalyst is Strategy’s quarterly report, with Nasdaq estimating an earnings date of Feb. 4.
