Anchorage Digital, notable for being the first cryptocurrency firm to secure a U.S. banking charter, made headlines recently by announcing that it holds perpetual preferred stock in the bitcoin treasury firm Strategy. This strategic investment was described by Anchorage CEO Nathan McCauley as “conviction compounding,” emphasizing a strong commitment to Bitcoin within the financial industry.
McCauley highlighted the importance of institutional engagement with Bitcoin, noting that organizations are not merely discussing the cryptocurrency but are actively integrating it into their business operations. “When the company that operationalizes Bitcoin infrastructure puts capital alongside the company that operationalized the Bitcoin treasury strategy… that’s a signal,” he stated on social media platform X. This sentiment was echoed by Strategy’s CEO, Michael Saylor, who suggested that such conviction is “contagious” and implied that other firms may soon follow Anchorage’s example in acquiring Strategy’s yield-generating preferred stock.
The investment underscores a broader endorsement of the bitcoin treasury strategy that has gained traction in recent years, particularly under Saylor’s leadership at Strategy. The firm, known for being the largest publicly listed holder of bitcoin, currently possesses 717,722 BTC valued at approximately $46.64 million.
Strategy’s perpetual preferred stock, designated as Short Duration High Yield Credit (STRC), offers several advantages to investors. It ranks priority over common shares, such as MSTR, while providing steady yields and lacking an expiration date. Since its launch in mid-2025, STRC has offered an attractive annual dividend rate of 11.25%, disbursed monthly and adjusted to maintain stability around a $100 par value.
Anchorage Digital, based in San Francisco, is not only pioneering in crypto banking but also provides a suite of services including custody, trading, staking, and stablecoin options tailored for institutional clients. The firm is working on establishing U.S.-compliant stablecoin rails aimed at facilitating smoother and faster asset transfers across international borders, reinforcing its role as a critical player in the evolving cryptocurrency landscape.
