Buck Launches Bitcoin-Linked 'Savings Coin' Tied to Michael Saylor's Strategy

Buck Labs has launched a new crypto token called BUCK, designed as a yield-bearing savings coin according to CoinDesk. The token aims to provide users with an alternative to traditional stablecoins for earning returns on dollar-denominated crypto holdings. It is backed by shares in Strategy (MSTR), the largest corporate holder of bitcoin, and offers annualized rewards of approximately 7%.

Strategy, known for its significant bitcoin holdings, is not involved in the creation or promotion of BUCK. However, the token's reward mechanism is funded through the company's perpetual preferred stock holdings. The token is initially priced at $1 and does not maintain a hard dollar peg, meaning its value can fluctuate.

BUCK is structured as a governance token, allowing holders to vote on key protocol decisions, including reward distribution. Buck Labs emphasized that the token is intended for non-U.S. users at this stage.

Why Did This Happen?

Buck Labs founder Travis VanderZanden explained that the BUCK token fills a gap in the market between spending and saving. He compared it to stablecoins, which facilitate movement of money but not earning returns. BUCK is intended to offer returns on idle capital, leveraging Strategy's extensive bitcoin holdings.

The BUCK token is indirectly supported by Strategy's perpetual preferred stock (STRC), which pays periodic income to the foundation's treasury. This income funds the rewards distributed to BUCK holders.

How Markets Responded

Strategy itself has been active in the market, having recently raised its dividend rate on its preferred stock to 11.00% from 10.75%. This increase was effective January 1, 2026, and accompanied by a cash dividend payment for January 2026.

In the broader market, Bitcoin was trading at around $93,500, up from recent lows. However, Strategy reported a $17.44 billion unrealized loss in Q4 2025, largely due to the drop in Bitcoin's value. The company's shares dropped nearly 50% in 2025.

What Are Analysts Watching Next?

Analysts are looking at how BUCK performs in the market and whether it can attract a broad user base. The token's fluctuating price and lack of a hard dollar peg could impact adoption.

The BUCK token's success will also depend on investor confidence in the rewards model and Strategy's ability to continue generating income from its preferred stock. The token's governance model may also influence how quickly the protocol evolves.

Additionally, Strategy's recent $116 million investment in Bitcoin and its growing cash reserve of $2.25 billion are being closely watched by investors. These actions suggest continued commitment to Bitcoin as a strategic asset.