MicroStrategy’s Preferred Stock Shows Diverging Returns in 2025

Strategy’s preferred stocks displayed varied results in 2025, with STRF gaining 31% and STRD declining by 6%. These outcomes highlight market preferences for Bitcoin proxy exposure and differences in preferred stock structures.

MicroStrategy’s preferred stocks exhibited varied returns in 2025. STRF reported a 31% gain, while STRD decreased by 6%.

MicroStrategy’s preferred stock returns highlight varying market appetites for risk and Bitcoin exposure.

2025 Preferred Stock Series Performance

MicroStrategy issued four preferred stock series (STRF, STRD, STRK, STRC) in 2025, leading to distinct market responses. STRF’s performance, at a 31% return, demonstrates investor preference for higher seniority and reliable dividends.

Michael Saylor, as MicroStrategy’s key executive, remains instrumental in the firm’s strategies. His influence in Bitcoin acquisition is notable, paralleling gains seen in MicroStrategy’s overall stock performance, which has risen 13% in 2025.

Investor Insights and Financial Maneuvers

These stock offerings raised $5.6 billion, largely to enhance MicroStrategy’s Bitcoin holdings and support operations. Equity issuance provides insight into market dynamics and highlights investor interest in Bitcoin proxies. Financial observers link STRD’s negative performance to investor concerns about dividend sustainability. STRD’s junior status and non-cumulative dividends fuel market skepticism.

Michael Saylor, Founder & Executive Chairman, MicroStrategy – “STRF leads with a 31% return, followed by STRK at 19% and STRC at 8%, while STRD has experienced a negative return of 6%. Additionally, MSTR’s stock price has increased by 13% so far in 2025, which is lower than Bitcoin’s 18% rise.” Source

Historical data show that MicroStrategy’s financial maneuvers consistently impact Bitcoin purchases. Analysts draw parallels with previous convertible bond offerings seen in 2021 and 2023, each linked to large BTC acquisitions.

Market experts point to the interplay between MicroStrategy’s treasury policies and broader asset market conditions, with their strategies impacting micro and macro Bitcoin landscapes.

Potential regulatory scrutiny on preferred structures offers pathways to understand financial and strategic implications. The preferred stock market’s evolution could signal future trends in both traditional and crypto-linked sectors.