MERCURY vs STRC
MERCURYSTRC
Permanent link to this comparison
21dc.com/compare/mercury-vs-strc
In summary
Generated from the terms, not an opinionMERCURY pays a fixed rate and can convert into common stock; STRC pays a variable rate set by the issuer.
MERCURY pays quarterly, STRC pays twice a month.
They are issued by different companies (Metaplanet Inc., Strategy Inc.), so their claims rank against different balance sheets.
They are denominated in different currencies (JPY, USD); figures are shown without FX conversion.
Effective yield, six months
MERCURYSTRCBitcoin, right axisTerms, aligned
Rows above the line move with price| Term | MERCURY Metaplanet Inc. | STRC Strategy Inc. |
|---|---|---|
| Last close | — | $99.99 |
| vs par | — | −0.01% |
| Effective yield | — | 12.00% |
| Stated rate | 4.90%, fixed | 12.00%, variable |
| Rate mechanism | Fixed | Issuer may set the rate each period at its sole discretion, but may not cut it (i) by more than 25bp plus the decline in one-month term SOFR over the prior period, or (ii) below one-month term SOFR; no cut allowed while any accumulated dividends are unpaid. Rate announced via strategy.com/strc. |
| Cumulative | — | Yes |
| Frequency | quarterly | twice a month |
| Next payment | — | 31 Oct 2026 |
| Rank within issuer | 2 (1 = most senior preferred) | 2 (1 = most senior preferred) |
| Redemption | — | Optional redemption of all or part at $101 (or higher at issuer's discretion) plus accumulated/unpaid dividends, any time after listing; partial redemption only if >= $250m stated amount remains outstanding. Also clean-up (<25% outstanding) and tax redemptions at liquidation preference. |
| Conversion | Long-dated option to convert into common at ¥1,000 (secondary source; mechanics unverified) | None |
| Listing, currency | Unlisted, JPY | Nasdaq, USD |
| Terms as of | 20 Nov 2025 | 30 Jun 2026 |