Anchorage Digital’s Bitcoin bet: Crypto bank takes stake in Strategy’s STRC

Anchorage Digital, the federally chartered U.S. crypto bank, signaled deepening institutional conviction in Bitcoin by disclosing it holds perpetual preferred stock issued by Strategy on its balance sheet.

Anchorage Digital backs Strategy’s Bitcoin play with STRC bet

CEO Nathan McCauley framed the move as a meaningful alignment between the company that “operationalizes Bitcoin infrastructure” and the firm that has become synonymous with corporate Bitcoin accumulation.

McCauley posted on social platform X that the investment in STRC, Strategy’s perpetual preferred security, underscored conviction rather than casual interest in digital assets.

STRC is a Nasdaq-listed perpetual preferred security that pays an attractive annual dividend, roughly 11.25% before expenses, and is closely tied to Strategy’s Bitcoin treasury strategy.

Strategy, led by executive chairman Michael Saylor, has aggressively expanded its Bitcoin holdings through regular purchases funded by equity and preferred stock offerings. The firm recently marked its 100th Bitcoin acquisition, adding another 592 BTC and bringing its total to more than 717,000 coins, roughly 3% of all Bitcoin in circulation.

McCauley’s post was met with affirmation from Saylor himself, who echoed the sentiment that “conviction is contagious,” offering a rare glimpse into how significant institutional actors are positioning around Bitcoin beyond simple custodial services or trading exposure.

Anchorage Digital declined to disclose the size or timing of its holdings, but McCauley described the move as more than symbolic, suggesting that when a regulated crypto bank puts capital alongside the world’s largest dedicated corporate Bitcoin holder, it speaks to confidence in Bitcoin’s long-term relevance.

The bank’s move follows a $100 million equity investment from stablecoin issuer Tether and precedes Anchorage’s planned IPO.