NEW: K33's Vetle Lunde argues Strategy's STRC preferred shares are an expensive way to stack Bitcoin.
He estimates STRC added $725 million to annual dividend costs, about 8,740 BTC, lifting preferred dividends from roughly $830 million to $1.56 billion in 2026.
Without leaning on STRC, he figures the company would still hold 843,303 BTC as of Oct. 12, only 4,947 short of the actual 848,250.
He estimates STRC added $725 million to annual dividend costs, about 8,740 BTC, lifting preferred dividends from roughly $830 million to $1.56 billion in 2026.
Without leaning on STRC, he figures the company would still hold 843,303 BTC as of Oct. 12, only 4,947 short of the actual 848,250.