STRC Risk Transmission

Bitcoin moved +4.0% and Strategy shares moved +47.6%, but STRC moved only +4.4%. STRC is behaving more like an income security than a smaller MSTR share.

This page follows one Bitcoin move through three different securities. It keeps price movement, income, company exposure, bond behaviour and market trading capacity separate.

Completed market prices through 2026-09-18

BTC

MSTR

STRC
INCOME

one Bitcoin move reaches each security differently

STRC price$98.51-1.5% versus $100

STRC · 21 sessions+4.4%Market move

MSTR · 21 sessions+47.6%Common shares

Bitcoin · 21 sessions+4.0%Treasury asset

MSTR amplification+43.6 ptsMSTR minus Bitcoin

STRC movement stripped-43.2 ptsSTRC minus MSTR

STRC yearly volatility36.9%Daily movement pace

MSTR yearly volatility92.9%Daily movement pace

Bitcoin yearly volatility40.5%Daily movement pace

STRC link with MSTR+0.58Latest 90 sessions

STRC link with Bitcoin+0.36Latest 90 sessions

STRC sensitivity to MSTR0.22×Daily beta

STRC sensitivity to Bitcoin0.41×Daily beta

Price versus $100-1.5%Premium or discount

Indicated yearly cash payment$12.00Per share if maintained

Cash yield at market price12.2%Cash payment divided by price

Extra yield over Treasury bills+8.5 ptsIncome compensation

From recorded high+0.0%Price damage

Position in trading range100.0%From low to high

Average daily trading$150.6mnLatest 21 sessions

Buying pressure+0.07Price and volume

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Where did Bitcoin risk go?

Bitcoin is the underlying asset. MSTR common shares add company financing and equity risk. STRC exchanges much of that movement for a stated cash payment.

Bitcoin+4.0%

MSTR+47.6%

STRC+4.4%

High-yield bonds-0.9%

Bitcoin moved +4.0% and Strategy shares moved +47.6%, but STRC moved only +4.4%. STRC is behaving more like an income security than a smaller MSTR share.

What pays for the calm?

STRC offers income and a steadier price, but the market still prices company risk, rate risk and trading capacity.

Cash yield12.2%

Treasury-bill return3.7%

Extra payment+8.5%

Price versus $100-1.5%

The cash yield is 12.2%, or +8.5 points over the recent Treasury-bill return. That spread is the market’s payment for taking more risk.