The perpetual preferred security STRC, issued by Strategy (MSTR), moved back to its $100 par value in Wednesday’s U.S. session, marking its first return to that level since mid-January despite continued volatility in bitcoin.

Reclaiming par is significant because it allows Strategy to restart at-the-market (ATM) offerings of STRC, which the company uses to raise funds for additional bitcoin purchases. The preferred shares last touched $100 on Jan. 16, when bitcoin was trading near $97,000. As the cryptocurrency later slid to around $60,000 on Feb. 5, STRC dropped to approximately $93 before rebounding in recent days.

Structured as a short-duration, income-oriented instrument, STRC currently provides an 11.25% annual dividend paid monthly. The company adjusts the dividend rate each month to help stabilize trading around par, most recently increasing the payout to maintain the 11.25% yield.

Meanwhile, MSTR common shares declined 5% on Wednesday to close at $126, with bitcoin hovering near $67,500.