Anchorage Digital, the first federally chartered crypto bank in the United States, has disclosed it holds perpetual preferred stock issued by corporate Bitcoin giant MicroStrategy on its balance sheet. The move is being framed by Anchorage's leadership as a strategic alignment and a significant vote of confidence in the Bitcoin treasury strategy popularized by MicroStrategy.
Anchorage CEO Nathan McCauley stated on social media platform X, "Institutions don’t just talk about Bitcoin, they structure around it. When the company that operationalizes Bitcoin infrastructure puts capital alongside the company that operationalized the Bitcoin treasury strategy…that's a signal." The investment is in MicroStrategy's Nasdaq-listed perpetual preferred security, known as Short Duration High Yield Credit (STRC).
STRC offers investors an annual dividend yield of approximately 11.25%, paid monthly in cash. The security ranks senior to MicroStrategy's common stock (MSTR) and is designed to trade stably around its $100 par value, with its rate adjusted monthly. Launched in mid-2025, STRC is intrinsically linked to MicroStrategy's Bitcoin-focused corporate strategy.
MicroStrategy Executive Chairman Michael Saylor responded to the news, stating, "Conviction is contagious," hinting that other firms may follow Anchorage's lead. MicroStrategy recently completed its 100th Bitcoin purchase, bringing its total holdings to 717,722 BTC, worth approximately $46.64 billion and representing roughly 3% of Bitcoin's total circulating supply.
While Anchorage did not disclose the size or timing of its STRC investment, McCauley emphasized it was a meaningful capital commitment, not merely symbolic. The bank's move follows a recent $100 million equity investment from stablecoin issuer Tether and precedes Anchorage's own plans for a potential initial public offering (IPO).
