Anchorage buys STRC as Wall Street shorts mount against Saylor’s Bitcoin proxy

CoinTelegraph

by Amin Haqshanas

February 25, 2026

AI-Generated Deep Dive Summary

Anchorage Digital has acquired STRC, a perpetual preferred security issued by Michael Saylor’s Bitcoin-focused company Strategy, as Wall Street hedge funds ramp up bearish bets against the stock, making it the most-shorted large-cap US equity. The move comes at a time when institutional confidence in Bitcoin (BTC) is being tested, with major players increasingly betting against Saylor's strategy. In a statement on X, Anchorage co-founder and CEO Nathan McCauley emphasized the alignment between his company’s focus on Bitcoin infrastructure and Strategy’s treasury adoption model, signaling a shared conviction in Bitcoin’s future. Strategy, known for its aggressive Bitcoin holdings, has seen hedge funds pile on short positions, with data from Goldman Sachs highlighting the stock’s rise as the most-shorted. Anchorage’s decision to back STRC adds institutional credibility to Saylor’s venture, which has faced growing skepticism from Wall Street traders. McCauley described the move as a strategic alignment between two companies operationalizing Bitcoin in different areas—infrastructure and treasury management. This development underscores the ongoing tension between institutional confidence in Bitcoin and Wall Street’s bearish sentiment. While shorting activity suggests doubt about Saylor’s approach, Anchorage’s support signals that major players are still betting on Bitcoin’s long-term potential. The purchase also reflects a broader trend among crypto-friendly institutions to align their strategies with Bitcoin adoption, rather than just talking about it. For readers interested in crypto, this story highlights the delicate balance between innovation and skepticism in the industry. It demonstrates how institutional moves can influence perceptions of Bitcoin’s viability as both an investment vehicle and a transformative asset. While short positions indicate challenges, Anchorage’s backing reinforces the idea that Bitcoin remains a key focus for some of the most forward-thinking financial institutions. Ultimately, this narrative is about conviction versus doubt in the crypto space. As Wall Street shorters pile on, companies like Anchorage are doubling down on their belief in Bitcoin’s future

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Originally published on CoinTelegraph on 2/25/2026