Anchorage Digital disclosed it holds Strategy’s perpetual preferred security STRC on its balance sheet, signaling institutional alignment with Bitcoin infrastructure and treasury adoption.

This disclosure highlights growing ties within Bitcoin’s institutional ecosystem, suggesting other firms may follow in acquiring STRC or similar instruments.

As the United States’ first federally chartered crypto bank, Anchorage announced holding STRC in Strategy, a Bitcoin treasury firm, strengthening its stance as a Bitcoin infrastructure player.

Strategy founder Michael Saylor announced plans to convert roughly $6 billion of convertible debt into equity over the next several years to reduce leverage, potentially diluting existing investors but lowering debt obligations.

STRC pays monthly dividends and is designed as a non-expiring instrument, appealing to yield-focused investors.

Strategy’s executive chair Michael Saylor responded by endorsing the conviction in the strategy, underscoring confidence in the model.

Strategy has risen to become Goldman Sachs’ top-shorted large-cap US stock by short interest as a share of market cap, a trend linked to Bitcoin’s price movements.

The disclosure follows reports that Anchorage aims to raise up to $400 million ahead of a potential IPO, with discussions cited by Bloomberg in early January.

The Block emphasizes that the information reflects disclosure of holdings and strategic positioning rather than investment advice.

Strategy functions as a leveraged proxy for Bitcoin, issuing securities and deploying proceeds into BTC, which can magnify gains in rallies and losses in downturns.

Strategy notes its Bitcoin treasury would cover liabilities even in a severe downturn, estimating parity only if Bitcoin fell to around $8,000, an approximately 88% drop.

Strategy currently holds about 717,722 BTC, valued around $46.6–46.8 billion, with STRC proceeds historically used to finance Bitcoin acquisitions.