📊 Analysis of the STRD stock offering by MicroStrategy

🔍 Ticker: STRD | Yield: 10.00% per annum | Type: Preferred shares

🧾 Key information:

MicroStrategy (operating under the brand Strategy₿) offers 11,764,700 shares of Series A Perpetual Stride Preferred Stock (STRD Stock) with a fixed dividend yield of 10.00% per annum from a nominal value of $100 per share. This means an annual payment of $10 per share, subject to sufficient funds and board approval.

💥 The shares are preferred and non-redeemable (perpetual), but with the possibility of redemption by the company in certain cases.

💸 Dividends:

Type of dividends: Non-cumulative (do not accumulate if payments are missed).

Payments: Quarterly, starting from September 30, 2025 – on March 31, June 30, September 30, and December 31.

Payment form: Cash only.

Restrictions: There is no obligation to pay dividends if not declared by the board of directors. Also, dividends for past periods are not payable.

🔁 Redemption and buyback upon events:

The company may redeem some or all shares at any time, especially if the number of issued STRD falls below 25% of the total initial offering.

Shares may also be redeemed due to 'fundamental change' (e.g., change of control, merger).

The redemption price includes the nominal value ($100) + accumulated but unpaid dividends (if any).

📌 Conclusions:

✅ Pros:

High fixed yield of 10% per annum 💰.

Preference in liquidation (priority over common shares).

Quarterly payment — regular cash flow.

⚠️ Cons:

Dividends are not guaranteed and do not accumulate if missed.

The company has the right of early redemption, which may limit long-term returns.

No indication of collateral or inflation protection.

#Cryptocurrency Bitcoin is not mentioned directly in the terms of STRD — it is important to understand that the product itself is not an investment in #BTC .

📉 Brief risk analysis:

The product is suitable for investors seeking stable fixed income 💼.

But it is not protected against asset value loss or inflation.

Requires understanding of corporate risks of MicroStrategy and its dependence on #Bitcoin as part of its corporate strategy.

📌 Conclusion:

The instrument is attractive in terms of yield 📈 and can be used as part of a diversified portfolio, especially if you trust MicroStrategy's strategy. However, it is not a direct cryptocurrency investment, and investors should consider the corporate risks associated with the company's business and its assets in #BTC.

📎 Recommended for moderate investors focused on yield and acceptable levels of corporate risk.