Strategy chairman Michael Saylor said on Nov. 7, 2026, that 10 financial and regulatory developments over four centuries made digital credit possible. He said Strategy combined those mechanisms in Stretch, a perpetual preferred share that trades on Nasdaq as STRC and is backed by the company’s bitcoin reserves.
Strategy sets Stretch’s monthly dividend rate, so the payment is not fixed. Holders rank ahead of common shareholders but behind creditors. Changes to its dividend record and payment dates took effect on Nov. 1, 2026.
Separately, analytics platform River said bitcoin fell 53% in 2026 amid exchange hacks and concerns about artificial intelligence and quantum computing. River also cited three earlier drawdowns since 2014.
