Castle lets users convert 12% STRC dividends to Bitcoin
Share
- Castle has opened its automated Bitcoin (CRYPTO:BTC) platform to individual users.
- Users can now convert part or all of their STRC dividends into Bitcoin.
- Strategy’s STRC carries a 12% annual dividend rate for September record dates.
Castle has opened its automated Bitcoin (CRYPTO:BTC) platform to individual users, allowing them to convert STRC dividends into Bitcoin.
Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock carries a 12% annual dividend rate for September record dates.
“Investors have long faced a choice between earning steady yield and holding bitcoin. Castle eliminates that trade-off,” Castle co-founder and CTO João Almeida said.
Users can keep their dividend in cash, convert it to Bitcoin, or split it between both.
Strategy pays the STRC dividend in cash before Castle buys Bitcoin based on the user’s chosen allocation.
The STRC dividend rate can change each month, and each payment remains subject to Strategy’s board approval.
The launch expands Castle’s automated Bitcoin services from businesses and non-profit organisations to individual users.
At the time of reporting, Bitcoin price was $78,771.61.
