Strategy's junior preferred stock, STRD, has narrowed its credit spread to 8.12% against the U.S. 10-Year Treasury as of December 12, despite Bitcoin's price falling below $86,000. This tighter spread indicates stronger demand and improved credit perception for STRD. Additionally, Strategy has allocated $1.44 billion to cover over 21 months of dividends, enhancing the credit profile of its preferred securities. This financial maneuver underscores the company's commitment to maintaining robust creditworthiness amid fluctuating cryptocurrency markets.