Strategy Inc.'s perpetual preferred stock, STRC, is exhibiting a stronger correlation with Bitcoin, reaching a 90-day correlation coefficient of nearly 0.70, the highest since its launch in July 2025. This development, reported by TradingView, suggests a shift in the risk profile of STRC, traditionally seen as a stable income provider. Both STRC and Bitcoin have experienced declines this month, with STRC dropping 23% to $76 and Bitcoin falling nearly 20% to below $60,000. The increased correlation between STRC and Bitcoin affects investors seeking steady income from the preferred stock of the world's largest corporate Bitcoin holder, which owns 847,363 BTC valued at $50.4 billion. STRC, designed as a hybrid product, offers a variable-rate perpetual preferred stock with a $100 par value and an annualized dividend rate of 11.5%, adjusted monthly to maintain trading near par value.