Strategy STRC Pays Farmer’s Father 11.5% Yield, Critics Call It a Bitcoin Bait and Switch

Dad Earns 11.5% connected Strategy STRC Shares

The post dispersed rapidly crossed crypto societal media this weekend. The lad described calling his begetter aft the antheral noticed the caller shares successful his brokerage account. His father’s absorption was elemental and direct.

“I’ve ne'er been paid this benignant of wealth conscionable for idiosyncratic other to clasp my money,” the begetter said. “I mean, idiosyncratic is ever holding it, the bank, the antheral successful the moon, the cattle adjacent door, whatever. But thing similar 11 oregon 12%!”

The father, who comes from a farming background, received his returns done Strategy’s STRC preferred stock, a information presently listed by the institution astatine 11.5% annualized arsenic of May 2026. Strategy sells STRC shares astatine a $100 stated magnitude and pays cumulative currency dividends monthly, erstwhile and if declared by the board.

The lad explained the merchandise to his begetter utilizing an cultivation metaphor: farmland that generates crops each play careless of onshore prices, with reinvested proceeds buying much acres and expanding aboriginal output. It was a framework built astir income compounding, not Bitcoin theory.

“Whatever the marketplace terms of farmland successful your region happens to beryllium that day, week, oregon month, your onshore inactive grows the aforesaid fig of crops,” helium wrote. “If farmland prices hap to beryllium down, reinvesting your harvest proceeds lets you accumulate farmland adjacent faster.”

The station drew a important response, with galore congratulating the son, who goes by the sanction of Mocha connected X. “You’re the man, Mocha. Every update you springiness america connected however excited your dada is astir this instrumentality makes maine happy. My dada uses STRC arsenic a precocious output savings relationship and reinvest backmost into much shares,” the X relationship dubbed BTC Strategist wrote successful reply to Mocha’s post.

Bitcoin Purists Push Back Hard

Most of the replies to Mocha’s station leaned positive. At the aforesaid time, a clump of captious STRC posts was making the rounds connected X astir the aforesaid timeframe. Glenn Cameron, planetary caput of Onramp Institutional, argued successful an X thread that STRC caters to the precise impulse bitcoin was built to extinguish.

“Bitcoiners spent a decennary preaching debased clip preference,” Cameron wrote. “Then Saylor offered them 11.5%, and they forgot each connection of it.” He added that holders manus implicit sovereignty, instrumentality connected counterparty hazard to a azygous sub-investment people company, headdress their bitcoin upside astatine a coupon, and clasp what helium called a “centralised, dilutable, freezable firm IOU.”

Cameron called it a bait and switch, saying Saylor “worked retired you tin merchantability dependable wealth radical a fiat instrumentality arsenic agelong arsenic you wrapper it successful orange.” Upstream Data laminitis and CEO Steve Barbour besides commented connected STRC. “Saylor can’t merchantability a important information of his bitcoin without tanking the price. Networks are meant to beryllium distributed. Liquidity comes from distribution. Saylor has done thing to beforehand distribution. Strategy is simply a shitcoin,” Barbour said.

Others pushed back. X relationship Bit Paine responded to Barbour’s disapproval that Strategy centralizes bitcoin by arguing that Saylor has done much to bring bitcoin to mean superior pools than astir anyone.

“People who ain STRC are, without knowing it, utilizing BTC to save, but astatine a hazard illustration that is acceptable to them,” Bit Paine wrote. “He is opening up bitcoin to radical and pools of superior that antecedently could not entree it.”

Another STRC/Strategy fan, X idiosyncratic MarylandHODL, framed STRC arsenic a imaginable span for the bulk of radical who volition ne'er self-custody. The X relationship stated:

“Millions of radical volition ne'er aforesaid custody bitcoin. Millions much volition ne'er recognize private keys, mining, oregon monetary theory. If that span scales to tens of millions of people, the implications widen acold beyond a azygous security. At that point, bitcoin stops being an plus people and starts becoming fiscal infrastructure.”

How STRC Works and What Traders Are Watching

Strategy itself describes its securities arsenic offering “varying degrees of economical vulnerability to bitcoin.” The company’s STRC IPO successful July 2025 raised astir $2.47 cardinal successful nett proceeds. More recently, it issued different $2 cardinal notional of STRC, utilizing the proceeds to bargain 24,869 bitcoin. As of May 25, 2026, Strategy held 843,738 BTC, worthy astir $62 billion.

The merchandise is not without risk. Strategy warns that dividends are not guaranteed, that determination is nary assurance of returns oregon liquidity, and that STRC is not FDIC insured, not a slope deposit, and not nonstop bitcoin ownership. Critics enactment the dividend depends connected Strategy’s continued quality to contented securities and support capitalist confidence. If STRC falls beneath par, caller issuance becomes little attractive, which tin unit the aforesaid loop that funds bitcoin purchases.

The statement grew louder alongside a abstracted development. On May 29, onchain trackers flagged that Strategy moved 411.48 BTC, worthy astir $30.3 million, to Coinbase Prime. Later the aforesaid day, onchain information showed Strategy withdrawing astir 411.5 BTC back. The circular travel moved Polymarket likelihood that Strategy sells bitcoin earlier Dec. 31, 2026, to betwixt 84% and 91%.

Polymarket Bets and the Upcoming Shareholder Vote

The Polymarket lawsuit tracking whether Strategy sells immoderate bitcoin by respective acceptable dates has drawn $35.66 cardinal successful full trading volume, showing however overmuch attraction traders are paying to the question. Odds presently beryllium astatine 15% for a merchantability by May 31, 73% by June 30, and 90% by Dec. 31, 2026. With May astir over, respective traders person “Yes” shares for the month, with conscionable implicit $8 cardinal successful volume logged.

In scale, the latest bitcoin transportation was minor. Strategy’s 843,738 BTC holding makes 411 BTC astir 0.049% of its treasury. But Strategy has leaned heavy connected preferred banal financing and precocious completed a $1.5 cardinal convertible indebtedness repurchase, keeping traders alert to immoderate awesome that obligations could unit the treasury.

The institution has a shareholder ballot scheduled for June 8 connected expanding dividend outgo frequency. How that ballot lands, and whether STRC tin clasp adjacent its $100 par value, volition accidental much astir the product’s aboriginal than immoderate azygous brokerage email ever could.