MSTR has lost 75% of its value since STRC began trading
Bitcoin treasury company Strategy diluted shareholders of MSTR, the company’s common stock, by $333.7 million last week and bought no bitcoin (BTC). Instead, the company redirected about 40% of the proceeds to repurchase STRC for its preferred shareholders, 16% as STRC dividends, and kept the rest for itself as cash.
Strategy disclosed the transactions in an SEC filing this morning. It was the company’s fourth straight week of diluting MSTR shareholders with $0 BTC purchases.
In fact, Strategy has not increased its BTC holdings since June 21, 2026. It owns 6,916 fewer BTC today than it did two months ago.
As a reward for patiently enduring founder Michael Saylor’s shareholder dilution program, MSTR shareholders have lost 16% of their investment since the company reported its last BTC purchase.
In fact, since the July 2025 debut of STRC on the Nasdaq, the price of MSTR has declined 75%.
The STRC rollercoaster from $100 to $71.25 to $95
Strategy has raised roughly $16.3 billion by diluting MSTR since it launched STRC, a dividend-paying preferred share that is supposed to trade near $100 yet has actually traded as low as $71.25 on the Nasdaq.
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