Strategy’s STRC nears $100 level that could reopen a Bitcoin funding channel

Strategy's STRC preferred stock closed eight cents below its $100 stated value as shareholders approved daily dividends on four preferred securities.Executive Chairman Michael Saylor said preliminary results from the Oct. 28 vote showed 99.3% of votes cast supported the amendment, allowing the company's four US-listed preferred securities, STRC, STRF, STRK and STRD, to accrue dividends every calendar day.STRC rose 0.4% to close Wednesday at $99.92, eight cents below its $100 stated value.Strategy's stated policy is to refrain from issuing new STRC shares below $100. A sustained return to that level could reopen one source of funding for additional Bitcoin purchases, after more than $2 billion of STRC buybacks.Under the approved arrangement, STRC's first daily dividend record date is Nov. 1, with payment scheduled for Nov. 2, subject to the amended terms taking effect. STRF, STRK, and STRD follow on Jan. 1, 2027, with their first payment scheduled for Jan. 4.The change increases payment frequency without raising the annual dividend rates. Dividends accrue on every calendar day and are paid on the next business day.Strategy has argued that the changes could reduce price volatility, a...