Strategy CEO Phong Le said the Bitcoin treasury company will lean more on Strategy preferred stock sales to fund Strategy Bitcoin buys.
He said the company is moving away from selling common stock, which can cause common stock dilution.
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Le made the comments Wednesday on Bloomberg The Close.
“We will start to transition from equity capital to preferred capital,”
Phong Le said.
The plan keeps Strategy’s focus on raising cash while limiting reliance on common stock issuance.
The comments came as Bitcoin traded near $66,800 over the last 24 hours, after an intraday move above $68,000, based on the figures cited in the report.
STRC preferred stock pays over 11% as Strategy shifts from common stock dilution
Le pointed to STRC preferred stock, also called Stretch (STRC), as a key part of the funding mix for Strategy Bitcoin buys. The company launched Stretch in July as a perpetual preferred stock.
Strategy described STRC preferred stock as offering an annual dividend of over 11%. The company also described STRC as a product aimed at buyers seeking stability.
Le said the product needs time to land with traders. He said it will “take some seasoning” and marketing, while adding that “throughout the course of this year, we expect Stretch to be a big product for us.”
STRC preferred stock returns to $100 par as Strategy weighs more Strategy Bitcoin buys
STRC preferred stock closed at its $100 par value on Wednesday for the first time since mid January, Le said. He called the return to par the “story of the day.”
Earlier this month, STRC traded below $94 when Bitcoin fell under $60,000, according to the report. After that move, STRC later climbed back to the $100 level that Strategy uses as its minimum.
With STRC preferred stock back at par, the report said Strategy could again offer shares to raise funds for Strategy Bitcoin buys.
The report described the preferred route as an alternative to issuing more common shares that can pressure the stock through common stock dilution.
Phong Le rejects buying another Bitcoin treasury company and calls it a “distraction”
Some analysts have warned the crypto treasury space is becoming crowded. They have also warned that, in some cases, crypto holdings may exceed the value of the operating company.
That discussion led to talk that larger firms could buy weaker rivals to gain Bitcoin at a discount to net asset value. However, Phong Le said Strategy is not interested in acquiring another Bitcoin treasury company to gain Bitcoin.
“I think in any new market, whether it be electric cars or AI or SaaS software, you want to focus on your core product,”
Le said.
“I think it would be a distraction to go buy, at a discount to net asset value, another digital asset treasury company.”
Strategy (MSTR) shares fall as Strategy preferred stock plan takes focus
Shares in Strategy (MSTR) ended Wednesday down over 5% at $126.14, according to the report.
The comments aired on Bloomberg The Close, and the segment also appeared via YouTube, as referenced in the story.
Le’s remarks centered on funding structure, not a shift away from Strategy Bitcoin buys.
He framed Strategy preferred stock and STRC preferred stock as the main tools as the company reduces reliance on common equity issuance.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: February 12, 2026 • 🕓 Last updated: February 12, 2026
