Strategy STRC joins Binance after $216M sale

• Strategy (NASDAQ:MSTR) subsidiary security STRC began spot trading on Binance Stocks after the company sold 3,588 Bitcoin worth US$216 million.
• STRC and MSTR rose in premarket trading, while Bitcoin (CRYPTO:BTC) traded near US$62,900 following a recent rebound.
• Strategy said the Bitcoin sale will fund dividend payments on its Digital Credit securities while supporting its long-term treasury strategy.

Strategy saw its STRC preferred stock listed for spot trading on Binance Stocks after the company sold 3,588 Bitcoin (CRYPTO:BTC) for US$216 million to fund dividend payments while retaining 843,775 BTC.

The listing follows Binance's earlier launch of perpetual futures linked to STRC and comes as Strategy continues using preferred securities to raise capital without reducing its long-term focus on Bitcoin holdings.

“Strategy now holds 843,775 BTC alongside US$2.55 billion in U.S. dollar reserves,” said Strategy Executive Chairman Michael Saylor.

Binance also listed several additional securities, including ADTI, ANTA, ATROB, CBRS, DISK, FOTO, KDEF, KMEM and QNT, and said fully paid securities lending will become available after trades settle, while Strategy said the Bitcoin sale was completed to meet dividend obligations tied to its Digital Credit products.

Strategy previously sold 32 Bitcoin earlier this year for preferred stock distributions, and following the announcement the Strategy share price was up 3% in premarket trading at US$104.35 while STRC rose nearly 2% to US$89.57.

Strategy said it increased its U.S. dollar reserves to US$2.55 billion, announced an MSTR share buyback programme and raised STRC's annual dividend to 12% as part of its capital management strategy.

Bitcoin traded near US$62,900 at the time of reporting with 24-hour trading volume up 23%, as investors monitored Strategy's funding approach and Binance's expansion of tokenised stock offerings.

At the time of reporting, Bitcoin price was $63,276.32.