Strategy’s Stretch Falls to $73, Hits Record Low as Bitcoin Slump Deepens
Summary
- The perpetual preferred stock Stretch issued by Strategy, the world’s largest corporate holder of Bitcoin (BTC), fell to a record low of $73 in premarket trading.
- Strategy currently holds about $871 million in cash, while its annual preferred dividend obligation totals $1.7 billion, meaning its remaining cash would cover only about six months of dividend payments.
- The perpetual preferred stock SATA issued by Strive, a rival Bitcoin digital asset treasury company, also continued to decline, falling to $83.5 in premarket trading on June 26, its lowest level since February.
Forecast Trend Report by Period
Strategy’s perpetual preferred stock fell further into the low $70s, setting a record low as Bitcoin weakened.
Odaily reported that Stretch traded at $73 in premarket trading on June 26. It is the lowest level since Strategy issued the security in July 2025.
Stretch is a perpetual preferred stock that Strategy sells to help finance Bitcoin purchases. The company needs the shares to trade near their $100 par value to raise additional capital through at-the-market offerings.
The pressure point is Strategy’s cash position. The company is estimated to hold about $871 million in cash.
Its annual preferred dividend obligation totals about $1.7 billion. At that pace, Strategy’s remaining cash would cover only about six months of dividend payments.
Strive, a rival Bitcoin digital asset treasury company, has also seen its perpetual preferred stock continue to slide. Odaily reported that Strive’s perpetual preferred stock, SATA, traded at $83.5 in premarket trading on June 26.
That was the lowest level since February. Odaily added that Strive has continued making daily dividend payments despite the recent bear market.
