Strategy Inc.'s Tokenized Equity STRCx Reaches $158 Million Market Cap

Strategy Inc. has made headlines with its tokenized version of preferred stock, STRCx, which has reached a market cap of approximately $158.56 million as of October 8, 2026. This milestone positions STRCx as the largest tokenized equity in the world.

STRCx serves as an on-chain representation of Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock, which is traded on the Nasdaq under the ticker STRC. Each STRCx token is issued by Backed Assets (JE) Limited under its xStocks framework and provides a 1:1 economic exposure to the underlying preferred shares without synthetic exposure or leverage.

One notable feature of STRCx is its approach to dividends. Instead of distributing cash payouts, the protocol utilizes a rebasing mechanism that automatically reinvests dividends back into the token, allowing holders to accumulate more tokens over time.

With a circulating supply of approximately 1.46 million tokens and a total supply estimated between 2.8 million and 2.87 million tokens, STRCx has rapidly ascended to the top of the tokenized equity market since its launch in early 2026.

This achievement reflects a growing acceptance of tokenized equities, with STRCx clearing a significant credibility threshold in the market. The success of STRCx also highlights Strategy Inc.'s unique position as a company known for its aggressive Bitcoin accumulation strategy, now extending its influence into both traditional and on-chain financial ecosystems.