BUCK's yield depends on STRC ROC dividends being paid to Buck's Treasury. If dividends were reduced or suspended, BUCK yield would decrease — but your BUCK value would not decrease.
Why dividend suspension is unlikely:
Dividends are contractual preferred equity payments, not discretionary
$2.25B in cash reserves covers 77.4 years of dividend payments
Preferred dividends must be paid before common dividends
STRC is NASDAQ-listed with SEC oversight
In a Strategy solvency scenario, preferred shareholders (including Buck) have priority over common stockholders.
Concentration Risk
Buck's treasury is concentrated in STRC. This means simpler verification and a single transparent yield source, but no diversification across asset classes. This trade-off is mitigated by Strategy's position as the world's largest corporate Bitcoin holder ($60B+ BTC, $2.25B cash reserves).
