Anchorage Digital, the U.S. federally chartered crypto bank, has publicly revealed its holding of Strategy‘s (Nasdaq: MSTR) perpetual preferred stock, known as STRC. This disclosure underscores a deep, enduring belief in Strategy’s innovative approach to corporate Bitcoin treasury management.
The announcement came directly from Anchorage Digital‘s co-founder and CEO, Nathan McCauley, via a post on X.
Conviction compounds.
Institutions don’t just talk about Bitcoin, they structure around it.
Today, @Anchorage Digital has announced it holds $STRC, @Strategy’s perpetual preferred stock, on our balance sheet.
When the company that operationalizes Bitcoin infrastructure puts…
— Nathan McCauley ⚓ (@nathanmccauley) February 25, 2026
He emphasized the strong strategic alignment between the two entities, noting that Strategy stands as the world’s leading company dedicated to holding Bitcoin as its primary treasury reserve asset.
McCauley described the move as more than a simple investment, framing it as a clear indicator of institutional confidence in Bitcoin’s long-term value.
“When the company that provides the infrastructure for Bitcoin conviction holds the security designed to fund it, that’s a signal,” he stated, highlighting how traditional financial players are increasingly structuring their operations around digital assets rather than merely discussing them.
STRC, marketed under the name “Stretch,” is a Nasdaq-listed perpetual preferred stock issued by Strategy (formerly MicroStrategy).
It functions as a short-duration, high-yield credit instrument, currently offering an 11.25% annual dividend paid monthly in cash.
The dividend rate adjusts periodically to maintain trading near its $100 par value, minimizing price volatility while providing attractive income.
Proceeds from STRC issuances have consistently supported Strategy’s aggressive Bitcoin accumulation strategy.
As a result, holding STRC offers investors indirect exposure to Strategy’s vast Bitcoin reserves—currently over 717,000 BTC—combined with reliable yield, appealing to those seeking both stability and upside from the cryptocurrency market.
Anchorage Digital, recognized as the first U.S. crypto institution to receive a federal bank charter, specializes in delivering regulated custody, trading, staking, and other services to institutional clients.
Its decision to include STRC on its balance sheet reflects a broader trend among sophisticated players in the digital asset space: moving beyond spot Bitcoin exposure to sophisticated financial products that blend traditional yield mechanisms with crypto-native strategies.
Notably, Anchorage did not reveal the exact size of its STRC position or the timing of acquisition, keeping those details private.
This revelation arrives amid Anchorage’s ongoing expansion and strengthening position in the industry.
Just weeks earlier, the firm secured a $100 million strategic equity investment from Tether, boosting its valuation to $4.2 billion and signaling backing from major ecosystem participants.
Such developments position Anchorage as a key bridge between conventional finance and digital assets.
For Strategy, led by Bitcoin advocate Michael Saylor, partnerships and endorsements like this reinforce its model of treating Bitcoin as superior “digital capital.”
Instruments like STRC expand access for income-oriented investors, allowing them to participate in the Bitcoin treasury narrative without direct cryptocurrency ownership.
Overall, Anchorage’s holding of STRC serves as a powerful endorsement of Strategy’s vision and Bitcoin’s role in corporate finance.
It demonstrates how regulated institutions are not only safeguarding digital assets but actively allocating capital to structures that perpetuate Bitcoin adoption.