Perpetual preferred stock issued by bitcoin treasury companies, tracked to the filing.

Exact terms, effective yields and dividend dates for 10 instruments from 4 issuers. Every figure carries the date it was last confirmed and the document it came from.

Instruments: 10 tracked
Issuers: Strategy, Strive, Smarter Web Company, Metaplanet
Outstanding: $16.9bn notional, USD series
Bitcoin: $77,009 · 30 Oct

All instruments

Sorted by effective yield, descending · Last close · Sterling, euro and yen instruments in their own currency

Ticker	Issuer	Structure	Rate	Close	vs par	Eff. yield	Next dividend	As of
SATS	Strive, Inc.	Fixed, cumulative	15.00%	$93.25	−6.75%	16.09%	9 Nov, each business day	30 Oct
MORE	Smarter Web Company PLC	Variable, cumulative (GBP)	12.00% var.	£80.00	−20.00%	15.00%	Weekly	30 Oct
STRD	Strategy Inc.	Fixed, non-cumulative	10.00%	$69.75	−30.25%	14.34%	Quarterly	30 Oct
SATA	Strive, Inc.	Variable, cumulative	13.00% var.	$94.86	−5.14%	13.70%	30 Nov, each business day	30 Oct
STRC	Strategy Inc.	Variable, cumulative	12.00% var.	$99.13	−0.87%	12.11%	Twice a month	30 Oct
STRK	Strategy Inc.	Convertible, cumulative	8.00%	$67.85	−32.15%	11.79%	Quarterly	30 Oct
STRF	Strategy Inc.	Fixed, cumulative	10.00%	$101.42	+1.42%	9.86%	Quarterly	30 Oct
MARS	Metaplanet Inc.	Announced	—	—	—	—	—	—
MERCURY	Metaplanet Inc.	Filed, not yet trading	4.90%	—	—	—	Quarterly	—
STRE	Strategy Inc.	Fixed, cumulative (EUR)	10.00%	—	—	—	Quarterly	—

Effective yield is the annual stated dividend divided by last close. Variable-rate series use the most recently declared rate. Methodology

About this reference

What digital credit is, and how these instruments differ

Digital credit is the issuers' own name for perpetual preferred stock sold by companies that hold bitcoin as a treasury asset. 21DC records each series' terms from its prospectus, the dividends declared in each filing and the daily closing price, and derives effective yield and discount to par from those inputs. A weekly digest of filings, rate changes and issuance starts on Fridays.

Dividend calendar

Next 90 days, declared payments

9 Nov	Payment	SATS	$0.871 per share
30 Nov	Payment	SATA, SATS	$1.0849 · $0.8554 per share