Strategy’s $STRF Launch Sparks Intense Debate on X

On March 18th, 2025, Michael Saylor, Founder and Chairman of Strategy (Nasdaq: MSTR; STRK), announced via X the launch of $STRF ("Strife"), a perpetual preferred stock offering, highlighting the company’s focus on Bitcoin as a treasury asset alongside its business intelligence software.

Strategy today announced the launch of $STRF ("Strife"), a new perpetual preferred stock offering, available to institutional investors and select non-institutional investors. For more information, click here. $MSTR https://t.co/XM7XbMepEY
— Michael Saylor⚡️ (@saylor) March 18, 2025

The offering, targeting institutional and select non-institutional investors, comprises 5 million shares of Series A Perpetual Strife Preferred Stock, registered under the Securities Act of 1933.

It offers a fixed 10% annual dividend ($10 per share, based on an initial $100 value), payable quarterly if approved by Strategy’s board.

Without a maturity date, the stock could provide indefinite dividends contingent on the company’s ongoing operations.

However, Strategy can redeem all outstanding shares if fewer than 25% remain issued or under specific tax-related conditions.

This move aligns with Saylor’s strategy to deepen the company’s Bitcoin focus, potentially diversifying financial products for investors seeking high-yield returns while supporting further Bitcoin acquisitions.

Critics, including @GHOSTawyeeBOB and Peter Schiff, expressed skepticism, pointing to Strategy’s 2024 negative cash flow of $66.51 million and questioning the sustainability of the 10% dividend for $STRF, arguing that Saylor’s Bitcoin-heavy strategy is risky and desperate.

They referenced the company’s financial struggles, past losses (e.g., the .com bubble), and Bitcoin’s volatility, with some humorously noting price drops following Saylor’s endorsements.

In contrast, @vanguard_btc and others defended the strategy as optimal, framing negative cash flow as a trade-off for acquiring Bitcoin—a “finite asset” versus “infinite dollars”—while viewing $STRF as a strategic tool to fund long-term growth.

Replies seeking clarity on $STRF’s structure, dividend risks, and Strategy’s financials, along with witty jabs like @CryptoCowboy_AU’s 'Can you fix bitcoin yet?,' resonated widely.

Negative cash flow supports skeptics, while Strategy’s 446,400 Bitcoin holdings and $STRF’s purpose for general corporate needs, including Bitcoin, bolster optimists, underscoring a community grappling with the company’s pivot to a Bitcoin treasury model.