Anchorage Digital holds Strategy holds bitcoin holder Strategy's preferred stock

CoinDesk

by Omkar Godbole

February 25, 2026

AI-Generated Deep Dive Summary

Anchorage Digital, the first federally chartered U.S. crypto bank, has made a significant investment by acquiring perpetual preferred stock in Strategy, a bitcoin treasury firm. This move underscores Anchorage's commitment to Bitcoin and signals confidence in Strategy's approach to managing digital assets. The investment, described as "conviction compounding" by Anchorage CEO Nathan McCauley, highlights the growing alignment among institutional players in the crypto space. By structuring their investments around Bitcoin, these firms are not just talking about its potential but actively building infrastructure and strategies around it. Strategy, known for holding one of the largest bitcoin treasuries globally with 717,722 BTC worth $46.64 million, offers a unique opportunity for investors through its Short Duration High Yield Credit (STRC) preferred stock. Launched in mid-2025, STRC provides an 11.25% annual dividend, paid monthly, with yields adjusted to maintain stability around the $100 par value. Preferred stocks like STRC hold a senior position over common shares, offering steady returns without expiration dates. This structure appeals to institutions seeking reliable income streams in a volatile market. Anchorage's decision to invest in STRC is part of its broader strategy to align with companies that operationalize Bitcoin infrastructure and treasury management. The move not only supports Strategy but also reinforces the growing ties among bitcoin's institutional proponents, despite ongoing price fluctuations. Michael Saylor, founder of Strategy, expressed optimism about this investment, suggesting it could inspire other firms to follow suit. This shift in institutional behavior reflects a deeper belief in Bitcoin's long-term potential. The significance of this move extends beyond financial strategy; it signals a broader trend toward institutional adoption and confidence in Bitcoin as an asset class. By investing in STRC, Anchorage is making a statement about the viability and future growth of Bitcoin infrastructure. This aligns with its mission to offer U.S.-compliant services like custody, trading, staking, and stablecoin solutions for institutions, facilitating seamless cross-border asset transfers. For readers interested in crypto, this development highlights the increasing sophistication of institutional investment strategies in the space. It underscores the potential for preferred stocks as a vehicle for generating steady returns while supporting firms that operationalize critical components of the Bitcoin ecosystem. As more institutions like Anchorage invest in such opportunities, it could pave the way for further innovation and mainstream adoption of cryptocurrency assets.

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Originally published on CoinDesk on 2/25/2026