According to @QCompounding, MicroStrategy (MSTR) has launched its third bitcoin-backed preferred stock, STRD, on the Nasdaq, offering a high 10% annual dividend. The company intends to use the net proceeds of approximately $979.7 million to fund general corporate purposes and acquire more Bitcoin (BTC). This move comes as speculation grows that MSTR's perpetual preferred shares are front-running a potential inclusion in the S&P 500 index. The source suggests this speculation is driven by Bitcoin's record-high monthly close at $107,750, which, according to analyst Jeff Walton, could boost MSTR's earnings per share to a level that satisfies the final requirement for S&P 500 eligibility. In response, MSTR common stock rose 5%, while its preferred shares saw significant gains, with STRK climbing 15% and STRF adding 7.5%, highlighting strong investor interest in these high-yield instruments as a proxy for both Bitcoin exposure and potential index inclusion.

According to Michael Saylor, the new preferred stock STRF, referred to as 'Strife', has begun trading on Nasdaq. This equity offers USD Yield for $STRF investors and BTC Yield for $MSTR investors, providing distinct benefits for different investor profiles. The strategic issuance of STRF aims to attract both USD-focused and Bitcoin-focused investors, potentially impacting the market appeal and liquidity of both STRF and MSTR stocks. This dual-yield strategy offers diversification for investors and may influence trading volumes and price movements on Nasdaq.