Strategy STRC Pays Farmer’s Father 11.5% Yield, Critics Call It a Bitcoin Bait and Switch

Dad earns 11.5% on STRC strategy stocks

THE job spread quickly across crypto social media this weekend. The son said he called his father after the man noticed the new stock in his brokerage account. His father’s reaction was simple and direct.

“I have never received so much money just for someone else to keep my money,” the father said. “I mean, there’s always someone who owns it, the bank, the man on the moon, the cow next door, whatever. But nothing like 11 or 12 percent!”

The father, from a farming background, received his income through Strategy’s STRC preferred stock, a stock currently listed by the company at 11.5% annualized as of May 2026. Strategy sells STRC stock at a declared amount of $100 and pays cumulative cash dividends monthly, when and if declared by the board of directors.

The son explained the product to his father using an agricultural metaphor: farmland that produces crops every season, regardless of land prices, with profits reinvested to buy more acres and increase future production. This was a framework built around the capitalization of income, and not Bitcoin theory.

“Regardless of the market price of farmland in your county that day, week, or month, your land still produces the same number of crops,” he wrote. “If farmland prices fall, reinvesting your harvest proceeds allows you to accumulate farmland even faster. »

The post garnered a significant response, with many praising the son, who goes by the name Mocha on BTC Strategist wrote in response to Mocha’s message.

Bitcoin Purists push back hard

Most responses to Mocha’s post were positive. At the same time, a group of messages critical of STRC were making the rounds on X around the same time. Glenn Cameron, Global Head of Onramp Institutional, argued in a wire bitcoin was built to extinguish.

“Bitcoiners have spent a decade preaching weak time preference,” Cameron wrote. “Then Saylor offered them 11.5%, and they forgot every word of it.” He added that holders cede their sovereignty, assume counterparty risk to a single sub-investment grade company, cap their bitcoin up with a coupon, and hold what it calls a “centralized, dilutable, freezable corporate IOU.”

Cameron called it a bait and switch, saying Saylor “understood that you can sell a fiat instrument to people who have solid money as long as you wrap it in orange.” Upstream Data founder and CEO Steve Barbour also commented on STRC. “Saylor cannot sell a substantial part of his bitcoin without increasing the price. Networks are intended to be distributed. Liquidity comes from distribution. Saylor did nothing to promote the distribution. Strategy is a shitcoin”, Barbour said.

Others pushed back. X Bit Paine Account replied to Barbour’s criticism that the strategy centralizes bitcoin saying that Saylor did more to bring bitcoin to ordinary capital pools than almost anyone.

“STRC owners unknowingly use BTC to save, but with a risk profile that is acceptable to them,” wrote Bit Paine. “It opens bitcoin to people and capital reserves that previously could not access them.

Another STRC/Strategy fan, user X MarylandHODL, framed STRC as a potential bridge for the majority of people who will never self-guard. Account X indicated:

“Millions of people will never be in police custody bitcoin. Millions more will never understand private keysmining or monetary theory. If this bridge extends to tens of millions of people, the implications extend far beyond simple security. At this point, bitcoin stops being an asset class and starts becoming financial infrastructure.

How STRC Works and What Traders Watch

Strategy itself describes its securities as offering “varying degrees of economic exposure to bitcoin.” The company’s STRC IPO in July 2025 raised approximately $2.47 billion in net proceeds. Most recently, it issued an additional notional $2 billion of STRC, using the proceeds to purchase 24,869 securities. bitcoin. As of May 25, 2026, Strategy detained 843 738 BTCworth around $62 billion.

The product is not without risk. Strategy warns that dividends are not guaranteed, there is no guarantee of return or liquidityand that STRC is not FDIC insured, nor a bank deposit, nor direct bitcoin possession. Critics point out that the dividend depends on Strategy’s continued ability to issue securities and maintain investor confidence. If the STRC falls below par, new issues become less attractive, which can put pressure on the same loop that finances bitcoin purchases.

The debate has intensified alongside a distinct development. May 29, onchain trackers reported this strategy moved 411.48 BTCworth around $30.3 million, at Coinbase Prime. Later the same day, on-chain data showed Strategy withdrawing around 411.5 BTC back. The round trip moved the Polymarket odds that Strategy is selling bitcoin before December 31, 2026, between 84% and 91%.

Bets on Polymarket and the next shareholder vote

The Polymarket event to find out if the strategy sells bitcoin on several fixed dates, he took a total of $35.66 million trade volumeshowing how much attention traders are paying to the issue. The odds are currently 15% for a sale by May 31, 73% by June 30, and 90% by December 31, 2026. With May almost over, several traders have “Yes” stocks for the month, with just over $8 million in stocks. volume connected.

In terms of scale, the last bitcoin the transfer was minor. The strategy 843 738 BTC the outfit is 411 BTC approximately 0.049% of its cash flow. But Strategy has relied heavily on preferred stock financing and recently completed a $1.5 billion convertible debt buyback, keeping traders alert for any signals that the bonds could put pressure on the Treasury.

The company has scheduled a shareholder vote on June 8 on increasing the frequency of dividend payments. How that vote takes place and whether STRC can maintain a par value near $100 will say more about the future of the product than any brokerage email.