On February 25, the U.S.-licensed cryptocurrency company Anchorage Digital announced that its balance sheet now holds permanent preferred shares of Bitcoin asset management firm Strategy. This move is seen as an important signal of institutional capital structuring around the Bitcoin ecosystem. CEO Nathan McCauley described it as a “compound effect of belief,” meaning institutions are no longer just holding Bitcoin but are further investing in related infrastructure and asset management systems.
Following this, Strategy Chairman Michael Saylor responded that “belief is contagious,” implying that more institutions may follow suit by allocating to its income-generating preferred stock products, thereby strengthening capital linkages among institutions around Bitcoin asset strategies. This investment is viewed as a direct endorsement of Strategy’s Bitcoin asset management model and reflects how institutional investors are engaging in long-term Bitcoin value strategies through equity, preferred shares, and other layered structures.
Data shows that Strategy remains one of the world’s largest publicly traded Bitcoin holders, with approximately 717,722 BTC. Its long-term asset strategy revolves around Bitcoin reserves and capital market instruments. Its perpetual preferred stock, STRC, is a yield-related crypto financial product that pays dividends prior to common equity and offers a stable cash dividend mechanism. The product has an annualized dividend rate of about 11.25%, paid monthly, with a dynamic interest rate adjustment to maintain trading stability close to a $100 face value. This design is attractive to institutional funds seeking stable returns.
Headquartered in San Francisco, Anchorage Digital is the first federally chartered crypto bank in the United States, primarily providing custody, trading, staking, and stablecoin infrastructure services for institutional clients. The company is also building a compliant stablecoin channel for international banks to improve cross-border asset transfers. Against the backdrop of increasing institutional Bitcoin holdings, the trend of allocating to Bitcoin-related preferred shares, crypto banking services, and Bitcoin asset management strategies continues to strengthen, highlighting the accelerating integration of traditional and crypto finance.
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