Michael Saylor stated on X that Strategy’s perpetual preferred stock STRC has outperformed mainstream hedge fund strategies in terms of the Sharpe ratio, a risk-adjusted return metric. It also features zero management fees, no carried interest, no lock-up periods, and daily liquidity. Saylor stated that STRC is part of the "Digital Credit" system, with its core goal being to achieve better risk-adjusted returns within a controlled risk framework. This structure allows capital to be allocated more efficiently in the digital asset environment, without the fee structures and liquidity restrictions common to traditional hedge funds.