According to saylor, MicroStrategy (MSTR) is facing a significant shift in its trading dynamics. The stock's 10-day realized volatility has hit its lowest point since the company began acquiring Bitcoin (BTC) in 2020, a finding highlighted by Jeff Park of Bitwise Asset Management. This decline in both realized and implied volatility may reduce MSTR's appeal as a high-beta proxy for BTC, potentially causing traders to seek more volatile assets. Concurrently, speculation is mounting that MSTR could be added to the S&P 500 index. This is based on calculations by analyst Jeff Walton, who notes that Bitcoin's recent close above $107,000 boosts MSTR's earnings per share to a level that satisfies the final inclusion criteria. This potential catalyst appears to be driving significant gains in MSTR's perpetual preferred shares (STRK, STRF), which are outperforming both MSTR common stock and Bitcoin itself, with STRK delivering a 42% return since its February launch. These preferred shares also offer attractive yields, such as 6.6% for STRK and 8.8% for STRF, possibly front-running an official S&P 500 announcement.

According to Michael Saylor, Strategy is launching $STRD, a new Perpetual Preferred Stock, via an IPO for select investors. This move is significant for $MSTR holders and the broader crypto market, as it could improve Strategy’s capital structure and liquidity, potentially enabling larger Bitcoin acquisitions or technology investments (source: Michael Saylor on Twitter, June 3, 2025). Traders should monitor $STRD’s IPO performance and its impact on $MSTR price action, as well as any signals regarding strategic Bitcoin market activity.

According to Michael Saylor, Strategy has launched $STRD ('Stride'), a perpetual preferred stock offering targeted at institutional and select non-institutional investors (source: @saylor on Twitter, June 2, 2025). This move may increase Strategy's liquidity and capital flexibility, potentially enabling further investments in Bitcoin and digital assets, which could impact $MSTR's exposure to the crypto market. Traders should monitor $STRD’s performance and its influence on $MSTR, as well as any subsequent Bitcoin acquisition announcements from Strategy that could drive crypto market volatility.

According to André Dragosch, PhD, the dividend on MSTR's latest perpetual preferred stock offering is not fixed, allowing MSTR the theoretical option to defer payment indefinitely. This flexibility could impact investor confidence and the stock's attractiveness as a dividend investment.

According to BitMEX Research, MicroStrategy's shares have decreased by approximately 49% since their peak analysis on 21 Nov 2024. The company is now aiming to raise $500 million through a perpetual preferred stock offering, signaling a significant shift in its financial engineering strategies.