Michael Saylor, chairman of crypto firm Strategy (NASDAQ: $MSTR), has commented, albeit briefly, on the continued selloff of the company’s preferred stock.
On social media, Saylor wrote: “Markets are closed today. Volatility is never easy. Bitcoin keeps working. So do we. Thank you for your support.”
The post, which was made on the Juneteenth holiday, is the only public comment made by Saylor or Strategy concerning the crash in the company’s preferred stock (NASDAQ: $STRC), known as “Stretch.”
On June 18, the preferred stock’s price fell to an all-time low of $83 U.S. before ending the trading session at $88 U.S.
It is the first time that the preferred stock has finished trading below its initial public offering (IPO) price of $90 U.S.
The preferred stock pays a high dividend to shareholders that currently yields 13%. The stock is also meant to maintain a stable price of around $100 U.S.
However, Stretch has now lost its par value and fallen below $90 U.S., raising concerns among investors and analysts.
Analysts say there are growing concerns about the dividend’s sustainability, especially after Strategy moved earlier in June to start paying distributions twice per month.
Strategy launched the preferred stock in July 2025 to raise funds for its Bitcoin purchases. But in late May, the company was forced to sell 32 Bitcoin to help fund the dividend on STRC stock.
People had been calling on social media for Michael Saylor to address the current situation with STRC stock and the dividend’s sustainability. His brief comment will have to suffice for now.
MSTR stock has declined 28% this year to trade at $112.53 U.S. per share.
