- Strategy’s STRC preferred stock posted 30-day historical volatility of 9%, below the SPDR S&P 500 ETF Trust’s 10%
- Michael Saylor positioned STRC and Strive’s SATA as digital credit competing with private credit, high-yield bonds, and bond ETFs for income allocations
- The volatility gap has narrowed since March, when STRC showed 2% volatility and sat below the Vanguard Total Bond Market ETF, which it now exceeds
Strategy (MSTR) founder Michael Saylor announced Saturday that the company’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) recorded 30-day historical volatility of 9%, below the 10% seen on the SPDR S&P 500 ETF Trust (SPY). He called the development “a milestone for Digital Credit” in a post on X.
According to data shared by Saylor, STRC’s volatility placed it above only the Vanguard Total Bond Market ETF (BND) at 5% among tracked asset classes. Strategy’s common stock led the chart at 94% volatility, with Bitcoin at 39%, Gold‘s tracker at 24%, the Invesco QQQ Trust at 15%, and the Vanguard Real Estate ETF at 11%.
Saylor described Bitcoin as digital capital, Strategy’s STRC and Strive’s SATA as digital credit, and the companies’ common stock as digital equity. He argued digital credit competes for income allocations against private credit, high-yield bonds, preferred securities, and bond ETFs.
The claim represented a narrower gap than in March, when Saylor’s chart showed STRC at 2% volatility below BND at 6%. Volatility across the broader chart has declined since then, with Bitcoin falling from 50% and SPY from 15%.
Saylor cautioned that Bitcoin appreciation remains uncertain and that the margin between asset returns and financing costs “is not a locked-in interest spread.” He noted that falling Bitcoin prices, widening credit spreads, and contracting equity multiples can reinforce one another as readily as the upside.
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