What to know:
- Saylor outlines STRC as a digital credit built on a Bitcoin-backed capital model.
- STRC grows to $8.5B AUM with strong liquidity and institutional adoption.
- Future vision includes a layered digital money system and higher dividend frequency.
Michael Saylor, co-founder of MicroStrategy, published a detailed recap of his Bitcoin 2026 keynote through an X post on May 1, focusing on the concept of digital credit and the role of STRC in financial markets.
According to him, digital credit incorporates all the traditional methods of finance, including stock listings, preferred stocks, dividend schemes, and ATM programs, into a system that depends on the performance of Bitcoin.
From his model, the value of Bitcoin is expected to yield around 38% per year. This allows STRC to pay an 11% dividend and have room for further gains in the share price.
According to Saylor, the reason for creating STRC is to connect the volatility of Bitcoin to investors who seek stable income. This arrangement leaves the risk of capital on the shoulders of the equity holders, whereas the creditors enjoy a constant return.
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STRC Market Growth and Investor Adoption
The recent figures available have it that STRC now has an estimated asset size of $8.5 billion under management after nine months in business.
This makes it one of the fastest-growing digital credit products. It has nearly $400 million in liquidity each day, a volatility of 2.9%, and a Sharpe ratio of 2.7.
Saylor noted the involvement of large institutions where BlackRock and VanEck have listed STRC as one of their key credit positions, while individuals represent around 80% of ownership in the firm.
The monthly demand gives an indication of investor sentiment, since inflows increased from $500 million in January to $80 million in February, before experiencing a sudden spike to $3.5 billion in April.
Based on such growth in demand, it was expected that demand over the year would reach around $38 billion.
Layered Finance Vision and Dividend Shift
In his presentation, he outlined a three-layered financial model, which includes digital capital represented by Bitcoin, digital credits in the form of STRC, and an additional layer for making programmable digital yield products using those layers.
He outlined existing developments in tokenized yield platforms and projected that the industry would go up from $200 million to $1 billion within a few months.
There is a suggestion that STRC dividends can be paid twice every month instead of being paid on a monthly basis, thus increasing the number of payout periods to 24 annually.
Shareholder approval on this is needed in early June. With such an arrangement, STRC will become the only preferred stock globally to pay dividends semi-monthly.
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