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Tim Hakki
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Regulated US crypto bank Anchorage Digital has officially confirmed it holds Strategy’s STRC perpetual preferred stock on its balance sheet.
CEO Nathan McCauley disclosed the position on X today, framing it as a major strategic alignment between the sector’s largest digital asset treasury and its critical banking infrastructure.
This move validates the use of high yield Bitcoin proxies even as ETF outflows and price retests shake out weaker hands.
McCauley highlighted the synergy on X, noting that Anchorage plans to “build the future of BTC” alongside the Bitcoin treasury giant, Strategy.
While the exact size of the position remains undisclosed, the purchase signals that institutional custodians are now comfortable utilizing complex derivatives to gain exposure to crypto.
Key Takeaways
- Disclosure Filed: Anchorage Digital confirmed it holds Strategy’s Nasdaq-listed STRC stock.
- Position Scope: The move targets STRC’s 11.25% annual dividend yield, providing income-focused Bitcoin exposure.
- Strategic Signal: The partnership bridges operational custody with corporate treasury accumulation.
What the Anchorage Digital Disclosure Actually Signals
STRC is not a standard equity play. It is a Nasdaq listed perpetual preferred security designed as a high yield instrument that pays an 11.25% annual dividend in cash.
By holding STRC, Anchorage captures significant yield while funding Strategy’s aggressive Bitcoin purchasing engine.
“When the company that operationalizes Bitcoin infrastructure puts capital alongside the company that operationalized the Bitcoin treasury strategy … that’s a signal,” McCauley tweeted.
This structure allows institutions to bypass direct spot volatility while maintaining exposure to the ecosystem.
Proceeds from STRC issuances historically fund Strategy’s direct Bitcoin buys, creating a flywheel effect. As of Monday, Strategy held 717,722 BTC, valued at approximately $47 billion.
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A Divergence in Corporate Bitcoin Strategies
This disclosure highlights a sharp split in corporate behavior regarding crypto assets. While some operational entities liquidate positions to cover costs, (a major Bitcoin mining company just sold all its BTC), Anchorage and Strategy are doubling down on Bitcoin’s longer term prospects.
Michael Saylor, Strategy’s executive chairman, also responded to Anchorage Digital’s news by noting that “conviction is contagious.” That sentiment appears to be spreading beyond just crypto-native banks.
Strategy recently revealed that Prevalon Energy, a subsidiary of Mitsubishi Power Americas, also holds STRC on its balance sheet. This corporate adoption mirrors a growing public sector trend, as lawmakers in states like Missouri advance Bitcoin reserve bills to secure state funds against inflation.
The timing is critical. Anchorage concurrently secured a $100 million investment from Tether, valuing the firm at $4.2 billion. Allocating a portion of that balance sheet to high-yield Bitcoin proxies indicates a shift from improved custody to supporting active treasury management.
Furthermore, with overnight market liquidations defending the $60k level, these corporate treasury strategies will face their next major stress test.
Until Anchorage discloses the size of the position, the market is treating this as a qualitative vote of confidence rather than a proven liquidity event.
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