According to CoinMeta, and as reported by Bloomberg, Michael Saylor, the founder of Strategy, is attempting to transform Strategy from a mere Bitcoin treasury company into a “digital credit” issuer. By leveraging the Bitcoin held by the company as a capital base, they plan to adjust the dividend rate, issue and repurchase STRC, and manage the dollar reserves, thereby allowing the high volatility of BTC to be borne more by the MSTR common stock investors, while providing STRC holders with relatively low-volatility dollar cash returns. The current annualized dividend rate of STRC is about 12%, and Strategy also proposes to change it to a daily cumulative dividend that is paid on the next working day after announcement, in order to further reduce price volatility and increase liquidity. Saylor states that the “digital credit” market has grown from zero to approximately $16 billion over the past 20 months.