Strategy Inc 10 % Perp Stride Pfd Registered Shs Series A (STRD) Q3 2026 Earnings Report

The call was strongly optimistic, supported by record quarterly earnings, a 76% increase in MSTR, a 43% increase in Bitcoin, approximately $74 billion of treasury assets, continued Bitcoin accumulation, improved liquidity and credit coverage, and substantial digital credit and tokenization ambitions. The main negative points were the 3.7% year-to-date decline in Bitcoin per share, the prior STRC price dislocation, continued weakness and limited trading in several preferred instruments, the CFO transition, and unresolved U.S. tokenization standards and access. Highlights significantly outweighed lowlights.

Management said it aims to double Bitcoin per share over the course of the next seven years, believes MSTR has the potential to similarly outperform Bitcoin during the next year to two years, and expects “a couple year bull run.” Strategy said it could raise $10 billion, $20 billion, $30 billion through perpetual preferreds, and could create $10 billion, $20 billion, $30 billion of digital credit with its existing capital structure; when raising $1 billion or $2 billion a month on Stretch, it will likely put some into the U.S. dollar reserve and use the remainder to buy Bitcoin. The company expects digital credit to grow from $8.5 billion to tens of billions, if not hundreds of billions over time, believes Stretch volatility could fall below 10%, potentially approaching and below 5%, and said it is not going to increase the Stretch dividend, which remains right around 12%. Strategy said it expects the tokenized market to grow very fast, Nasdaq to move to seven-day trading towards the end of this year, STRC to return to par within four months if it falls below par and out of its trading range, and a set of tokenization standards, a framework and a structure to evolve over the next 12 months.