陈剑Jason|Jun 26, 2026 03:38
At present, even if the micro strategy continues to increase dividends, it is difficult to provide significant help to the price of STRC. After STRC fell to 75, although the dividend is still 11.5%, the actual return has increased to 15.19%. Because STRC's dividends are based on stocks, buying at different prices will result in different annual returns for one stock. Therefore, in theory, the lower the price, the higher the return, and the more people buying, the more likely the price will be held up or even pulled up again. However, this mechanism has now failed. It is not that the high 15% return is not desirable, but investors are questioning whether the micro strategy can maintain such a high return in the long run, fearing that the micro strategy may reduce dividends or even be unable to pay dividends in the future. Resulting in a decrease in actual yield instead of an increase. So many people say that they don't buy STRC because they are afraid of continuing to fall, losing interest and capital. This is the result rather than the cause. As long as the micro strategy can firmly convince the market that it has enough ability to pay interest in the long term, the price will not fall, because the more it falls, the more worth buying.
Looking back, Micro Strategy used $1.38 billion last month and only repurchased convertible bonds at a 92% discount, which was a bad move that directly consumed the vast majority of the funds on its books, leading to doubts in the market about its ability to pay future dividends.
The best way for microstrategies to pay dividends is to continue raising money from the market, robbing oneself to make up for the other. As long as you have the ability to pay dividends in the long term, there will be a continuous stream of funds willing to buy STRC, and STRC has always maintained a strong price. However, the current decline in STRC prices has forced even if money can be raised to be discounted, and due to concerns about dividend payment ability, the willingness to buy has greatly weakened.
There are still two paths left, one is to reduce or even stop paying dividends. In fact, this does not constitute a breach of contract and there is no clear legal responsibility. Micro Strategy obediently holds Bitcoin in hand and waits for the bull market, but this directly undermines the foundation of Micro Strategy's existence.
Another way is to sell BTC to exchange for money and pay dividends. If the above path is to cut off the head directly, then this path is at most a heroic one. Selling a small amount of BTC can just cover short-term dividends. It has been like a blunt knife cutting flesh, grinding and enduring until the bull market.
Be prepared to continue selling coins using micro strategies.
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