Strategy's perpetual preferred stock, STRC, has surpassed the $100 mark in pre-market trading for the first time since November 2025. This development allows Strategy to issue shares through an ATM mechanism linked to the product, potentially raising funds to bolster its Bitcoin holdings. STRC is marketed as a short-term, high-yield credit product, offering an annual dividend yield of 11%, paid monthly in cash. The yield is adjusted monthly to maintain the share price near its $100 par value, aiming to reduce price volatility.