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Strategy Faces $1.5B Annual Dividend Obligations Against $477M Revenue, Grayscale Research Head Says

2026-06-20 13:22:11

BTC0.30%

According to Grayscale's head of research (LowBeta), Strategy Inc. faces a fundamental cash-flow problem: roughly $1.5 billion in annual preferred-stock dividends outpace its software business revenue of $477 million by more than three to one. In a podcast with journalist Laura Shin, the research head argued the issue is "a cash flow issue, not a crypto issue," noting that bitcoin generates no yield to service dividend payments. Strategy sold 32 BTC for approximately $2.5 million in late May to fund preferred-stock payouts, marking its first bitcoin sale since 2022. The company's preferred-equity stack has swollen to roughly $15.5 billion as of mid-2026.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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