Strike price
Price chart for Strike (STRK) with a time-range selector. Between September 8, 2025 and September 11, 2026, STRK hit a high of 98.86 USD on September 29, 2025 and a low of 53.79 USD on June 22, 2026, a −20.5 % change over the period.
View the chart data (12 closes)
| Date | Close |
|---|---|
| 95.65 USD | |
| 87.62 USD | |
| 76.45 USD | |
| 82.60 USD | |
| 85.81 USD | |
| 78.34 USD | |
| 71.08 USD | |
| 78.55 USD | |
| 69.58 USD | |
| 60.95 USD | |
| 68.60 USD | |
| 76.00 USD |
Source: Yahoo Finance · data updated September 12, 2026.
Strike (STRK) is the first perpetual preferred issuance from Strategy, the world's largest corporate Bitcoin treasury. With an 8% annual cumulative dividend paid quarterly on a $100 par value, it offers indirect exposure to Strategy's balance sheet of more than 766,000 BTC without the direct volatility of MSTR common stock. Because it is cumulative, unpaid dividends continue to accrue and must be paid before any distribution to common shareholders. Strategy may redeem it from March 2027 onward, which introduces reinvestment risk if rates fall. It is the most liquid instrument in the series.
How do you buy STRK?
Where they trade, which brokers list them —and why some do not— and how the dividend is withheld.
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Yield Calculator
Base price: $76.00 · snapshotIndicative calculation. Dividends depend on the issuer declaring them each period, are not guaranteed and exclude tax withholdings and broker fees. The share count rounds down and assumes a market purchase at the price shown.
Dividend History
Total paid: $10.00Instrument Terms
Capital Structure
Senior to the common stock (MSTR). Junior to any secured debt. No mandatory maturity.
Bitcoin Exposure
Indirect exposure: the dividend is fixed in dollars, but the issuer's creditworthiness is backed by more than 766,000 BTC on Strategy's balance sheet.
Specific Risks
5 factors identifiedIssuer credit risk
Strategy's preferreds are not collateralized by the company's Bitcoin reserves. They are an unsecured obligation: in a bankruptcy scenario, senior bondholders are paid first and preferred holders only recover from residual assets afterwards. The backing is credit-based, not a BTC collateral pledge. A severe and prolonged drop in the Bitcoin price could compromise the issuer's ability to service the dividends.
Cumulative, but not guaranteed
If the issuer skips a dividend, the amount accrues and must be paid before any distribution to common shareholders. The protection is real but has a limit: accrued dividends are only collected if the company survives. While unpaid, they earn no interest and are not adjusted for inflation.
Call risk (early redemption)
From Mar 2027 onward, the issuer may redeem the issuance at par value ($100 per share). If market rates are lower than the current yield by then, it will likely do so: the investor gets the principal back and must reinvest it at worse yields. This scenario is especially relevant for instruments trading at a premium to par.
Interest rate sensitivity
Like any perpetual fixed income instrument, the secondary price moves inversely to rates. A significant rise in interest rates can cause sharp price declines even if the issuer keeps paying dividends on time. The effect grows with effective duration, and perpetuals are the most sensitive.
Stacked dividend obligations of the issuer
Strategy has issued 5 distinct fixed income instruments (STRK, STRF, STRC, STRD, STRE) coexisting in the same capital structure. Each new issuance adds dividend obligations on the same underlying Bitcoin balance sheet. In a prolonged BTC bear market, the issuer's cash flow to service all dividends simultaneously could compress and force prioritization decisions across issuances.
This risk analysis is for information purposes only and does not constitute financial advice. The official prospectuses (SEC) contain the full risk factor disclosure and should be reviewed before investing.
Disclaimer: SatsIntel is for informational purposes only. It is not an authorized crypto-asset service provider (CASP) and does not provide financial, tax or legal advice. Crypto-assets are high-risk assets and may result in the total loss of the invested capital. See the legal terms.