Anchorage Digital, the first crypto firm to secure a US bank charter, said on Wednesday that its holding of a perpetual preferred stock in bitcoin tax firm Strategy on its balance sheet.
Anchorage CEO Nathan McCauley called it “conviction compounding.”
“Institutions don’t just talk about Bitcoin, they structure around it. When the company that operationalized Bitcoin infrastructure puts capital next to the company that operationalized the Bitcoin financial strategy … that’s a signal,” McCauley said at X.
Saylor responded by saying that “conviction is contagious” and hinted at the possibility that other firms may soon follow Anchorage’s lead in buying Strategy’s yield-generating preferred stock.
Anchorage’s investment is a capital vote for the bitcoin tax book popularized by Michael Saylor’s strategy. The flex also highlights deepening ties among bitcoin’s institutional stalwarts, even as prices falter. Strategy is the world’s largest publicly traded bitcoin holder, with a coin holding of 717,722 BTC worth $46.64 million.
The strategy’s perennial favorite stock, Short Duration High Yield Credit (STRC), ranks higher than common stocks like MSTR while offering investors steady returns without an expiration date.
STRC launched in mid-2025 and pays 11.25% annual dividend to holders. This is paid monthly in cash, with the rate adjusted each month to keep the trade steady around $100 face value.
San Francisco-based Anchorage Digital, the first federally chartered US crypto bank offers custody, trading, staking and stablecoin services to institutions. The firm establishes US-compatible stablecoin rails for international banks that offer faster movement of assets across borders.
