Cryptocurrency financial services firm Anchorage Digital announced it owns the perpetual preferred security STRC issued by Bitcoin holding company Strategy. This investment, confirmed by CEO Nathan McCauley, signals institutional alignment on Bitcoin infrastructure. The purchase comes as Strategy tops a Goldman Sachs list of most-shorted large-cap US stocks and continues its aggressive Bitcoin accumulation strategy despite market pressure.
Anchorage Digital has acquired a stake in Strategy‘s perpetual preferred security, STRC. Co-founder and CEO Nathan McCauley stated this purchase “is a sign of alignment between two organizations that focus on building out Bitcoin infrastructure.”
The security offers an 11.25% annual dividend paid monthly in cash. Strategy has used capital raised from these shares to expand its Bitcoin holdings.
This announcement coincides with Strategy reaching the top of Goldman Sachs’s list of most shorted large-cap US stocks. Short interest has contributed to volatility in the company’s share price.
Strategy is a publicly traded company that functions as a leveraged play on Bitcoin. Its share price tends to move in correlation with the cryptocurrency’s value.
The company’s latest Bitcoin purchase on Monday involved 592 Bitcoin for $39.8 million. Strategy’s treasury now holds 717,722 Bitcoin, valued at nearly $46.7 billion.
It recently announced plans to convert $6 billion in convertible bond debt into equity. This move aims to reduce leverage by turning bondholders into shareholders.
