STRC Taps Par as Corporate Treasuries Go Full Degen Mode

Three more firms have officially aped into the STRC treasury play. Strategy's perpetual preferred equity, Stretch (STRC), has mooned back to its $100 par value, proving corporate balance sheets can have diamond hands too.

Over at the 'Bitcoin for Corporations' track during Strategy World 2026, Prevalon Energy and Anchorage Digital each revealed they've allocated a slice of their corporate treasury to STRC. In a classic "gm, wagmi" move, Brazilian bitcoin treasury firm OranjeBTC also confirmed stacking the security on its own balance sheet.

Data from STRC.live shows the security briefly kissed its $100 par value during Wednesday's trading, a level many thought was as mythical as a rug-proof project. Based on the trading volume, the move represented a purchase of roughly 22 BTC worth of activity. By Thursday's pre-market, it was chilling comfortably at par again, not a meme in sight.

STRC is a short-duration, high-yield credit instrument that sits senior to MSTR common stock and dishes out an 11.25% annual dividend paid monthly. Think of it as the corporate CFO's answer to finding a sustainable yield farm that (hopefully) doesn't get drained.

The conference delivered more than just treasury alpha. 21Shares is bringing STRC exposure to Europe via the Strategy Yield ETP on Euronext Amsterdam. Separately, in a move that screams "fine, we'll do it live," Morgan Stanley confirmed plans to launch bitcoin trading, lending, yield, and custody services, as stated by Amy Oldenburg, Head of Digital Asset Strategy.

In related market action, bitcoin is trading above $68,000, because of course it is. MSTR pumped 9% on Wednesday and is taking a slight breather in Thursday's pre-market, trading around $135.