Dividend Stress Test

What this model assumes

• This model assumes Strategy's BTC holdings and USD reserves remain at the input levels. In practice, Strategy is actively buying more bitcoin weekly.
• The model does not account for new STRC shares being issued (which increases the dividend obligation over time). Use the Advanced controls to model different share counts.
• The dividend rate changes monthly at Strategy's discretion. This model uses a static rate.
• The USD reserve is drawn down as dividends are paid. This model shows a point-in-time snapshot, not a dynamic simulation.
• Bitcoin is volatile. A -50% crash can be followed by a recovery. This model shows what happens at a static price, not a dynamic price path.
• Strategy has five preferred series (STRC, STRF, STRK, STRD, STRE) that all draw dividends from the same treasury and cash reserves. The runway calculation reflects the total obligation across all series, not just STRC. The default obligation is computed from publicly disclosed share counts and rates in strc.json. Adjust in Advanced settings if updated figures are available.