ChainThink report, March 18: Michael Saylor, founder of Strategy, stated that the volatility of the perpetual preferred share STRC has declined to its historical low of 1.5%, driving its Sharpe ratio to a record high of 5.37, setting a new benchmark for risk-adjusted performance.

According to the official STRC data dashboard, STRC's current price is $99.88, with an effective yield of 11.51%, a 30-day historical volatility reaching a new all-time low of 1.5%, and a Sharpe ratio hitting a record high of 5.37, demonstrating STRC’s ability to deliver substantial returns with minimal risk.

ChainThink note: STRC is a floating-rate perpetual preferred share issued by Strategy, positioned as a short-term high-yield credit instrument, priced near $100, paying dividends monthly in cash, with dividend rates adjusted monthly. Strategy continuously issues new STRC to raise capital for buying BTC, leveraging the common market perception that the total BTC holding value should be lower than MSTR’s market cap to inflate its listed market cap, thereby enabling further STRC issuance to achieve a positive feedback loop. The internalized leverage amplifies MSTR’s price volatility relative to BTC, effectively serving as a leveraged exposure to Bitcoin investment.