Michael Saylor, executive chairman of Strategy (formerly MicroStrategy), aims to capture 1% of the $300 trillion global credit market, amounting to $3 trillion. His strategy involves issuing digital credit instruments backed by Bitcoin, with optimistic projections suggesting a potential market share of 5% to 10%, or $15 trillion to $30 trillion.
The core instrument, STRC (Variable Rate Series A Perpetual Stretch Preferred Stock), offers an annualized variable dividend of approximately 11.5% paid monthly, with a stated volatility of around 2%. The company utilizes overcollateralization to mitigate Bitcoin price fluctuations. Total issuance for the STRC, STRK, STRD, and STRF instruments reached between $8 billion and $11 billion within 9 to 12 months.
As of late September 2026, Strategy held approximately 847,666 BTC. A new SEC innovation exemption granted in September 2026 allows for the tokenized trading of STRC and MSTR securities on decentralized finance platforms. This regulatory sandbox framework enables 24/7 trading and settlement times measured in minutes, compared to the standard two-day period in traditional markets.
