Strategy CEO Phong Le has personally invested $1 million in STRC, the company’s flagship preferred stock, during a challenging trading period. The investment comes as the preferred stock is trading significantly below its intended level, raising concerns among investors about the company’s financing strategy.
Instead of retreating, Le has publicly stated that he plans to hold his investment until STRC returns to its $100 par value and likely surpasses it.
I bought $1 million of $STRC today. Will hold it until it reaches par, likely longer.
— Phong Le (@phongle) June 22, 2026
Phong Le Backs STRC With Personal Capital
Phong Le’s recent purchase comes at a time when STRC is facing intense scrutiny from investors and market observers. The company has consistently stated that STRC is designed to provide investors with a high-yield income product while maintaining price stability around its $100 stated value.
The Variable Rate Series A Perpetual “Stretch” Preferred Stock (STRC) plays a crucial role in Strategy’s capital structure. It offers a perpetual preferred stock with an annualized dividend rate of 11.5%, which is paid semi-monthly in cash. Strategy utilizes preferred securities like STRC alongside common stock offerings to raise capital and support its bitcoin acquisition strategy.
Thus, Le’s investment is more than just a routine insider purchase. At a time when market sentiment is fragile, his willingness to invest additional capital underscores his commitment to supporting the product during this challenging period.
STRC’s Market Performance
STRC is ideally designed to stay close to the $100 price mark. However, it has since dropped to around $88 this month, as shown in the chart below. This is the lowest it has seen this year. For context, the preferred stock has been significantly below the $95 threshold for the past 7 days. Among the factors that pulled its price were Strategy’s BTC sale weeks ago and the broader decline in BTC and crypto prices.
Interestingly, STRC saw a mild 0.23% increase shortly after Phong Le’s acquisition announcement. It remains to be seen just how high the stock can go with the million-dollar bet.
Meanwhile, Strategy’s common stock, MSTR, is also facing its struggles. It currently trades at $109.4, representing a 2.7% decline today and a 31% drop over the past month.
Despite these challenges, Strategy continues to be the largest corporate holder of bitcoin. Earlier today, the firm added 520 BTC for $35 million, increasing its cash reserves to $1.4 billion. Following this addition, Strategy now holds a total of 847,363 BTC, valued at approximately $54.8 billion.
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