Loading rate history
Loading series
1 BTC
=
- USD
Loading market data...
Perpetual preferreds issued against bitcoin balance sheets — stated rates, effective yields, premium to par and treasury spreads across the whole universe.
| Security | Price | 24h | Par | Rate | Yield | vs 10Y (pp) | Carry | Next ex-div | Freq | Vol 21d | Recovery | Mkt cap |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MS STRDStrategy 10.00% Series A Perpetual Stride Preferred | $72.66 | +0.63% | -27.35% | 10.00% | 13.76% | 8.52 | +1.38% | — | Quarterly | 26.01% | — | $1.02B |
AS SATAStrivevariable Variable Rate Series A Perpetual SATA Preferred | $99.10 | +0.28% | -0.90% | 13.00% | 13.12% | 7.88 | +2.88% | Oct 13 | Daily | 3.28% | 2d avg | $329.0M |
MS STRCStrategyvariable Variable Rate Series A Perpetual Stretch Preferred | $99.68 | +0.23% | -0.32% | 12.00% | 12.04% | 6.80 | +2.38% | Oct 15 | Semi-Monthly | 8.67% | 12d avg | $10.46B |
MS STRKStrategy 8.00% Series A Perpetual Strike Preferred | $76.23 | +1.19% | -23.77% | 8.00% | 10.49% | 5.25 | +0.38% | — | Quarterly | 40.29% | — | $1.06B |
MS STRFStrategy 10.00% Series A Perpetual Strife Preferred | $103.23 | +0.19% | +3.23% | 10.00% | 9.69% | 4.45 | +1.38% | — | Quarterly | 7.94% | 13d avg | $1.32B |
Spread vs the 5.24% 10-year Treasury par yield (2026-10-09). Yield = annualized dividend ÷ price; rate = annualized dividend ÷ $100 par. Carry = (rate − 7.25% borrow) × 50% LTV.
Per-payment amount annualized at each ex-date, as % of $100 par — board-set raises step up, fixed coupons stay flat.
Trading days from each ex-date until the price touched par again. Green = recovered, red = window closed below par, amber = still running.
Daily closing price per security.
Annualized rate in force divided by the daily close.
Price deviation from par — negative is a discount.
Effective yield minus the same-day 10-year Treasury rate.
30-day rolling average of daily dollar volume.
Annualized std dev of daily log returns over 21 sessions.
Distance from par vs effective yield, ex-dividends flagged.
Price walk from each ex-date, 20 sessions vs $100 par. Recovered 6 of 15, avg 12 days
USD Reserve per weekly 8-K vs the issuer's disclosed annual obligations.
Cash coverage is a standstill measure — the USD Reserve alone against the issuer-wide preferred dividends + interest, assuming no further inflows; balances are parsed from each 8-K's USD Reserve Update. Asset coverage nets the whole balance sheet: (bitcoin holdings at spot + reserve − total debt) against the same obligations.
SATA — Strive files no USD reserve: its 8-Ks declare the dividend rate but disclose no dividend reserve (est. obligations $43M/yr; net-asset coverage ≈ 667 mo via the bitcoin treasury — see Behind the Paper).
Every declared payment, newest first, with the rate each one implies.
| Ex-Date | Amount | Annual Rate | Change |
|---|---|---|---|
| 2026-09-30 | $0.5000 | 12.00% | — |
| 2026-09-15 | $0.5000 | 12.00% | — |
| 2026-08-31 | $0.5000 | 12.00% | — |
| 2026-08-14 | $0.5000 | 12.00% | — |
| 2026-07-31 | $0.5000 | 12.00% | — |
| 2026-07-15 | $0.5000 | 12.00% | +0.50% |
| 2026-06-30 | $0.4790 | 11.50% | — |
| 2026-06-15 | $0.9580 | 11.50% | — |
| 2026-05-15 | $0.9580 | 11.50% | — |
| 2026-04-15 | $0.9580 | 11.50% | — |
| 2026-03-13 | $0.9580 | 11.50% | +0.24% |
| 2026-02-13 | $0.9380 | 11.26% | — |
| Year | Total / Share | Payments | Rate Path |
|---|---|---|---|
| 2026 | $9.1660 | 13 | 11.00% → 12.00% |
| 2025 | $4.2580 | 5 | 9.60% → 10.75% |
Latest 8-K current reports straight off the EDGAR submissions index.
The bitcoin balance sheets these preferreds are issued against.