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The bitcoin treasury company's perpetual preferred equity, STRC, hit $100 for the first time since early November.\nWhat to know : Stretch (STRC), the perpetual preferred equity issued by bitcoin treasury company Strategy (MSTR) reclaimed its $100 par value in pre-market trading on Wednesday. At that level, Strategy may sell more of the stock through at-the-market offerings to fund further BTC purchases. STRC, which pays an 11% dividend, last traded at par between Nov. 4 and Nov. 13.